The Industrial Internet of Things (IIoT) is a major trend with significant implications for the global economy. It spans industries representing 62 percent of gross domestic product (GDP) among G20 nations, according to Oxford Economics,1 including manufacturing, mining, agriculture, oil and gas, and utilities. It also encompasses companies that depend on durable physical goods to conduct business, such as organizations that operate hospitals, warehouses and ports or that offer transportation, logistics and healthcare services.