Economic Research and Analysis of the National Need for Technology Infrastructure to Support the Internet of Things (IoT)

Published

January 28, 2025

Author(s)

Benson Chan, Renil Paramel, Christopher Reberger

Abstract

In 2019, the U.S. National Institute of Standards and Technology (NIST) awarded research and innovation advisory firm Strategy of Things a cooperative agreement (grant) for a study to assess the potential economic impact of federal research investments in developing the technological infrastructure necessary to support IoT. During the time this study was conducted, the rising prominence of Artificial Intelligence (AI) has reinforced the importance and relevance of IoT. The Internet of Things provides AI with a data source to build and train algorithms and models. In turn, AI enables IoT systems to make sense of the monitored conditions and respond to these situations. In Fiscal Year 2022, the U.S. federal government invested more than $195 billion in basic and applied research and development across a range of disciplines from computer information to social sciences. Over $70 billion of this research is conducted at nearly 300 Government Owned, Government Operated (GOGO) and Government Owned, Contractor Operated (GOCO) laboratories across the country. Approximately $106 billion of this investment was in extramural research and development at universities, non-profits, and small and large businesses across the country. This study provides a set of analyses that identify IoT infrastructure gaps that have the potential to be efficiently addressed with public sector investments across a range of technologies and industries.

Citation

Grant/Contract Reports (NISTGCR) - NIST GCR 25-059

Report Number

NIST GCR 25-059

NIST Pub Series

Grant/Contract Reports (NISTGCR)

Pub Type

NIST Pubs

Download Paper

https://doi.org/10.6028/nist.gcr.25-059

Local Download

Citation

Chan, B. , Paramel, R. and Reberger, C. (2025), Economic Research and Analysis of the National Need for Technology Infrastructure to Support the Internet of Things (IoT), Grant/Contract Reports (NISTGCR), National Institute of Standards and Technology, Gaithersburg, MD, [online], https://doi.org/10.6028/nist.gcr.25-059, https://tsapps.nist.gov/publication/get_pdf.cfm?pub_id=959514 (Accessed October 6, 2025)