The Study Of Impacts Of Internet Of Things Industry On Economic Growth

In the face of slowing economic growth,sluggish investment,less new consumption hot spots,bland international market,and potential risks of development,China urgently needs to seek new economic point of growth,and carry out industrial restructuring and upgrading.The IOT industry is just the new economic point of growth.As the revolutionary achievement of information technology-Internet of things,since the date of birth,it has received great attention from governments.Governments have integrated the IOT industry into the national strategic development goals,as an effective means to enhance international competitiveness.Compared with Internet,the IOT technology further optimizes the production,distribution,exchange and consumption of information resources,breaking the time and space constraints of social production.lt is the representative of industrial economy to digital economy and information economy.Therefore,the IOT industry has a strong ability of technological innovation and application innovation.It not only brings about the invention and creation of new information technology,the emergence of new business models,the creation of new products,but also through the expansion of its application fields of technology,the IOT industry gradually promotes the traditional industries' production methods,sales,storage,management ideas.What's more,the IOT industry has the characteristics of increasing returns to scale,high-permeability,external economy,high value-added,etc,which make the IOT industry impact on the national economy more important.In one word,the IOT industry can create more advanced productivity,promote the optimization of the industrial structure of the national economy,and finally stimulate the vitality of national economic development,bring economic growth.This paper mainly analyzes the impact of the IOT industry on the growth of the national economy.To illustrate this point,first of all.we elaborate the connotation,technical framework and characteristics of the IOT industry,and sum up the relevant researches.On the basis of relevant research results,we establish the theoretical system of the relationship between the IOT industry and economic growth,and build the the framework of this study.The main content is the impact of the IOT industry on the economic growth in quantity and quality,from the perspective of theoretical analysis and empirical analysis.In the case of economic growth,this paper first theoretically analyzes the impact mechanism of the IOT industry for economic growth,and divides the effects of the IOT industry on the economic growth into two aspects:direct and indirect.Secondly,we apply gray correlation methods to do the empirical analysis between the IOT industry and economic growth.Furthermore,by using the PL.S path model,we establish the path model of IOT industry affecting economic growth.In the case of improving the quality of economic growth,the mechanism of the IOT industry on the optimization and upgrading of industrial structure is analyzed theoretically.Then from the empirical perspective,we verify the impact of IOT industry on the industrial structure by constructing the industrial association network of 40 departments,which include the IOT industry,through social network analysis.Finally,on the basis of theoretical analysis,this thesis puts forward some relevant policy recommendations to develop the IOT industry and thus promote economic growth.Results show that the development of IOT industry can contribute to economic growth.The Internet of Things industry can not only directly promote economic growth,but also indirectly promote economic growth through technological innovation,human capital accumulation and energy efficiency.Therefore,the impact of IOT industry on economic growth should not be overlooked.Furthermore the IOT industry is located in the center of China's industrial association network,which belongs to the leading industry of our country.In addition,the IOT industry plays an important role in promoting the development of other industries.In one word,it can make the industrial structure of the national economy from the second industry as the main body to the third industry as the main body.Accordingly,it is proposed to strengthen the construction of the Internet of Things industry.