The Investment in the Industrial Internet of Things in France
The Industrial Internet of Things (IIoT) is a promising industry with numerous opportunities. Here's how France is encouraging investment and innovation in this sector.
The term "Industrial Internet of Things" (IIoT) refers to non-consumer devices used by businesses, governments, and other organizations to improve operations. The main goal of IIoT is to boost productivity, efficiency, and safety while reducing waste in operations. Manufacturing equipment, robots, and 3D printers are some of the well-known examples of IIoT devices. It is undoubtedly one of the most important technologies of the 21st century, thanks to its ability to provide seamless communication between people, processes, and things.
A Promising Sector
There are currently over 17.7 billion IIoT connections, leading some experts to predict the number to grow to more than 36.8 billion by 2025, representing a 107% growth rate. The IIoT, therefore, has the potential to be the future of network connectivity, and people must make the most of it. France has been making great strides in this regard.
France Plans to Be a Pioneer
In 2015, France inaugurated the “Cité de l'Objet Connecté”, IoT City. This innovative concept consists of all necessary equipment (electronic hardware, software, plastics, mechanics, and design) and the important skills for designing intelligent objects in a single place.
A "one-stop-shop" for startups, SMEs, mid-cap companies, large groups, and educational institutions promote investments in the sector. Indeed, the project also includes a startup accelerator thanks to a partnership with the company Numa. The incubator has a program to prepare startups for fundraising, open innovation, and entrepreneurial mechanisms dedicated to large groups. It has set up a network of international branches in seven cities, including Barcelona and Mexico City.
Several large groups like Orange, Bouygues, BPI France, and Indigo have invested in this project, materializing France's desire to be the hub of the Internet of Industrial Objects in Europe. Government aid and tax credits are also made available to companies working in the IoT sector to enable them to invest in research and development.
Therefore, France could be a world bombshell of digital technologies when these projects are successful and massification becomes widespread. But this requires convincing a portion of consumers who did not trust this technology due to privacy issues.
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