SAN FRANCISCO, April 20, 2016 /PRNewswire/ -- Penton today announced the launch of the IoT Institute, a new business unit focused on the rapidly-growing world of the Internet of Things (IoT). The IoT will unleash $6.2 trillion in new global economic value annually by 2025, with $2.3 trillion coming from the global manufacturing industry alone. While most coverage of IoT centers on the hype around wearables and other consumer applications, the largest market will be in industrial application.
According to McKinsey, the largest growth segments for IoT ahead are Smart Cities and Manufacturing. Penton's IoT Initiative is squarely focused on these two segments, and the business decision-makers who are now confronted by the challenge of practical application.
Penton Group President Paul Miller clarified: "IoT is now as relevant to non-technical professionals running companies and projects as it is to the technology community. The IoT Institute will focus on sharing best practice between technologists and line executives in order to drive practical and measurable results."
The IoT Institute franchise encompasses information services, learning, research and live events. The IoT Institute launches with:
- A digital community (www.ioti.com) enables cross-industry and cross-job function learning to drive IoT market value and results.
- IoT Emerge, scheduled to take place in Chicago this Fall, will offer real-world insights and demos, cross-functional peer-to-peer networking, advice and lessons.
- Breaking industry research focused to educate and drive business performance with IoT.
Penton has a unique ability to rapidly scale this new business, as the topic applies to virtually all of its 14 verticals. Some examples of Penton markets with very high application relevance include energy, buildings, automotive, aviation, municipal government and infrastructure, agriculture, waste, IT & data-centers, and engineering. "Penton can apply a layer of intelligence around IoT that ensures the topic is relevant to the nuances of each of our markets. This ensures our insights will be practically applied, and lead to tangible results for our users and marketers," said David Kieselstein, Penton's Chief Executive Officer. He added, "With a target audience of 10 million professional users we plan to quickly establish what will be the largest professional IoT community."
Stay connected with Penton IoT Institute on Twitter @IoTiPenton, Facebook: IoT Institute and LinkedIn Group: The IoT Institute.
About Penton's IoT Institute
Penton's IoT Institute is an online community and live events franchise focused on practical B2B applications in the rapidly-growing world of the Internet of Things (IoT). The IoT Institute provides actionable case studies, insights, research, and e-learning on the industrial and cultural phenomenon that's changing the shape of business and cities today. The IoT Institute's mission is to enable cross-industry and cross-job function learning to drive business performance.
Penton is an innovative information services company that empowers nearly 20 million business decision makers in markets that drive more than 12 trillion dollars in purchases each year. Our products inform with rich industry insights and workflow tools; engage through dynamic events, education and networking; and advance business with powerful marketing services programs. Penton is the way smart businesses buy, sell and grow.
Headquartered in New York, Penton is privately owned by MidOcean Partners and Wasserstein & Co., LP. For more information, visit http://www.penton.com or follow us on Twitter @PentonNow.