The global Internet of Everything (IoE) market is capped at more than US$7 billion by 2020. Increasingly, government is assessing how the IoE will streamline services, including healthcare, transport, infrastructure, utilities, aviation or education.
The global Internet of Everything (IoE) market is capped at more than US$7 billion by 2020. Increasingly, government is assessing how the IoE will streamline services, including healthcare, transport, infrastructure, utilities, aviation or education. Track 7 key trends around IoE for government, business and education.
For government departments and agencies, the Internet of Everything (IoE) offers cost-savings for service delivery, while better integrating a host of platforms including the cloud, internet, machine-to-machine and mobile apps. This snapshot offers a closer scrutiny of trends around the IoE.
Trend 1 – IoE is the future
Start by clarifying what you mean by the Internet of Everything (IoE). At first glance, the IoE appears to be a new spin on oldish concepts. For example, convergence morphed into the Internet of Things. This sees a new incarnation as the IoE, connecting people, places and devices, across a pervasive network.
Throw in a few sensors, mobile devices, big data, and networks that snake the planet in real-time, so that you and “everything” else is connected.
Trend 2 – Incorporate intelligent devices
The IoE landscape is marked by anywhere, anytime interaction between machines, machines and people, intelligent devices, apps, systems and business processes.
Among the stats, there’re an estimated 25 billion connected devices on the planet. This will grow to 50 billion by 2020.
London-based Future Market Insights says the overall IoE market will grow at 16.4 per cent through to 2020. The forecast is highlighted in its “Global IoE (Internet of Everything) Market Analysis and Opportunity Assessment, 2014–2020” report. By 2020, the IoE market is capped at more than US$ 7 billion.
Growth is led by a runaway success of connected devices, and enterprise mobility. Moreover, smart cities, smart grids and government initiatives are embracing IoE devices to support fully-integrated services.
Government initiatives galvanise emerging and established markets. The potential is massive, for example, involving healthcare, transport, infrastructure, utilities, aviation or education.
Trend 3 – Leverage a pervasive network
This domain expands on the Internet of Things, taking it to the next level. This nascent territory is not just about connecting physical devices. It’s about connecting everything across pervasive networks.
The internet remains the glue, linking billions of networks, devices, people, processes and technologies. The IoE changes the dynamics for government services, healthcare, transport, infrastructure, aviation, and utilities, among other sectors.
Trend 4 – Incorporate built-in smarts
Beyond machine-to-machine or M2M communications, you now have access to the more advanced, intuitive and personalised connectivity. This incorporates devices with built-in intelligence and tracking features.
You benefit from smarter apps, better automation, and connections that push the envelope. At the grassroots, this is about integrating millions of devices onto a network or network-of-networks.
These links stretch the boundaries, out to the edges, and beyond. The links are fluid, dynamic, and adapt to a fast-changing inventory of things or people being connected.
The potential touches all industries – from retail to telecommunications to banking, financial services, health, government, defence, aeronautics, transport, aviation, and more.
Trend 5 – Ensure security-of-everything
In this super-connected environment, security matters. This goes beyond network performance, availability, and ease of access.
Ask yourself: how is data being collected from all endpoints? Who tracks the traffic involving hundreds of thousands to millions or tens of millions of heterogeneous devices?
A complicated network is more vulnerable to attacks – from unexpected sources, both internal and external.
The next big wave connects different systems, devices, networks, machines, cars, airplanes, ships, trains, plants, factories, among a few. In this fluid space, experts caution against underestimating the risks.
Trend 6 – Track new jobs
The broad consensus is that the IoE re-frames the dynamics of work. Entry-level staff, or perhaps the millennials (generation X), are better adapted in this space.
This demographic is internet-savvy, and maintains an intuitive relationship with connected devices. The dialogue is built around open source, cleaner ways to cut code, and social media.
Companies, with an eye to the future, may expand the skill-sets for the more nomadic staff. “IoE” trainers” are a new breed of professionals. A different genre of job titles emerge: among these, IoE-specific engineers, or staff that focus on different skills or capabilities.
Trend 7 – Make commercially-savvy decisions
IoE enables executives to stay sharp to new opportunities. This involves making savvy commercial decisions, doing less with more, and ensuring the technology investment delivers a bang for the buck. For example, you need a deeper understanding of what needs changing from an operational perspective. Or integrate the corporate and personal connections with your day-to-day business.
Take a close look at how future revenue models will emerge, or if funding streams need a rethink. You need buy-in from board members or stakeholders. In other words, a corporate nod, as you refine the road-map on a connected journey.