GE says it is already on track to deliver more than $1bn of revenue this year from more than 40 industrial Internet offerings, with $1.3bn in orders, helping customers improve asset performance management (APM) and business operations. It is currently monitoring and analysing 50 million data elements from 10 million sensors on $1 trillion of managed assets every day, to help its customers to minimise unplanned downtime.

“The industrial Internet is a win-win for GE and our customers,” says Inmelt. “Our offerings will increase GE’s services margins and boost organic industrial growth, with the potential to drive as much as $20bn in annual savings across our industries.”

GE has also announced new global alliances with Softbank, Verizon, and Vodafone to provide a range of wireless-based systems optimised for the industrial Internet. In addition, it is working with AT&T to connect its machines and equipment, such as locomotives and aircraft engines, to the secure cloud via AT&T’s global network.