Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

'Internet of Everything' to unlock £9.6 trillion by 2020: Cisco

Sophie Curtis | March 15, 2013
The so-called 'Internet of Everything' – which brings together people, processes, data, and things – will create $14.4 trillion (£9.6tr) of value for companies and industries over the next 10 years, representing 21 percent aggregate growth in the profits of all the companies in the world, according to Cisco.

Cisco has deployed StreetLine sensors at its own campus in San Jose, and has also built some middleware that allows user to reserve a parking spot. The company claims that the technology not only provides a better experience for employees, but also rids it of the need for for vallet parking.

"This is one example of the network being agile. In this case the network is determining where the compute needs to occur," said Cisco CTO Padmasree Warrior. "That's the connection being application-centric, and the network having distributed capabilities."

While the Internet of Everything clearly presents a significant opportunity for companies and industries, Cisco warned that there is still work to do around converging the 'things' that are currently sitting in proprietary stacks into the world of open IP protocols.

"Mostly the challenge for us is the legacy protocols and the approach of closedness versus openness," said Maciej Kranz, VP and general manager of the Connected Industries Group at Cisco.

"In the industrial world there are around 50 proprietary protocols that have been deployed there over the years in the refineries or assembly lines. Everybody has their own optimised protocols and technologies. In some ways this is the problem we're dealing with right now."

However, he said that the industry has started to transition to new protocols, and everything is gradually shifting to IP.

"If you went to the Hanover Fair last year you would have seen that all the major players now have Ethernet and IP interfaces. Some of our partners started to ship explosively Ethernet interfaces there as well, so I would say the industry is moving in the right direction," he said.

 

Previous Page  1  2 

Sign up for CIO Asia eNewsletters.