The case study is about the impact of IoT on the economic growth of ICTs “Information & Communication technology”. By the Multifactor, productivity (MFP) impact of the ICTs invested in the macroeconomic growth. ICT is mostly covered the productive sectors, invention of new products .The IoT is understand the providing trends that is identifiable for the physical objects by the means to connect with the internet by using the communication networks to expand the ability of the ICT. (García , 2015)
How ICT Used IoT on economic growth
As the IoT expands a ICTs domain application, which has the potential to avoid the stagnation MFP growth, that is, related to the ICT capital surplus to observe the industrialized economics. Where the impact of the ICT in the investment of the macroeconomic growth by the MFP is characterized. The application of the ICTs is now interact by the physical world, and there is variety of new use of cases like allowing the integration of the IoT devices, creating the liquid marketplaces.
Factors determined their Adoption
The ICT adoption has reached the point of the Multifactor Productivity. The productivity increase and the quantity of the production factor is the result of the economic growth. The Factor accumulation is causes the short-term growth for the improvement of the productivity that has the permanent effects. Then the analyses of the factors, which effect on the productivity that has the central economic growth.
Key affordances of ICTs affected outcomes of IOT on economic growth
Role of the affordances in the IOT of the economic growth is that, it pushing us to the new frontiers of the human computer interactions .Whereas the affordances has the historically forte for the industrial design. Affordances of the ICT that epitomize a feature of the late modern age as well as explore the affordances of the IoT on the economic growth. For the effective sue of the multiple sectors the affordance cost of the MFP is occurred the transformative effects. (Conole & et.al, 2004)
Broader implications of IOT on economic growth for ICTs
In the impact of IoT economics growth of the ICT, the broader implications is that; select the emerging economies that has the some characteristics of the developed countries. It should still receive the MFP advantages for their investments of the ICT of the IoT. The improvement of the diminishing the MFP returns the connected by the ICT investments.
- Conole, G., & et.al. (2004, June). What are the affordances of information and communication technologies? ALT-J, Research in Learning Technology, 12(2). Retrieved from https://core.ac.uk/download/pdf/14186.pdf
- García , M. (2015). The Impact of IoT on Economic Growth: A Multifactor Productivity Approach. International Conference on Computational Science and Computational Intelligence, 855-856. doi:10.1109/csci.2015.134