Penton, the global information service provider company, has launched an IoT institute, a new business unit that will focus at the practicalities of the expanding B2B IoT world. The institute franchise will encompass information services, learning, research, and live events. Being an online community it will provide 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.
According to Penton, IoT will unchain more than $6 trillion in new global economic value annually by 2025, and about $2.3 trillion will be coming from the global manufacturing industry alone. Penton claims that most coverage of IoT centers on the hype around wearables and other consumer applications, the largest market will be in industrial application. McKinsey also states that 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.
Paul Miller, President, Penton Group, says:
“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.”
Penton has the ability to rapidly scale this new business, as the topic applies to virtually all of its 14 verticals. Penton operates in markets with a high relevance to IoT namely; energy, buildings, automotive, aviation, municipal government and infrastructure, agriculture, waste, IT & data-centers, and engineering. Currently it is collaborating with the Industrial Internet Consortium, the Chief Marketing Officer (CMO) Council, the Business Performance Innovation Network (BPI) and the Illinois Technology Association. And its IoT Institute will launch with:
- A digital community that will enable cross-industry and cross-job function learning to drive IoT market value and results.
- IoT Emerge, an event scheduled to take place in Chicago that will offer real-world insights and demos, cross-functional peer-to-peer networking, advice and lessons.
- Breaking industry research which will focused to educate and drive business performance with IoT.
“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. With a target audience of 10 million professional users we plan to quickly establish what will be the largest professional IoT community,” says David Kieselstein, Chief Executive Officer, Penton.