Jahangir Mohammed, Founder & CEO, Jasper Wireless, presents during the session entitled: ‘The Connected Lifestyle: Transforming Industries.’
According to McKinsey Global Institute’s Report on “Disruptive technologies: Advances that will transform life, business, and the global economy,” the Internet of Things (IoT) has the potential to create an economic impact of $2.7 trillion to $6.2 trillion annually by 2025.
As per IDC’s report on Worldwide Internet of Things (IoT) 2013–2020 Forecast: Billions of Things, Trillions of Dollars, 30 billion connected (autonomous) things are predicted to be part of the Internet of Things by 2020…Another IDC’s report on “Worldwide Internet of Things Spending by Vertical Market 2014–2017 Forecast” states that the potential market size of the Internet of Things is $7.3 trillion in 2017.
With such a phenomenal economic impact, the markets have to focus on companies such as Cisco Systems, Ericsson, GE, Google, IBM, Intel, Jasper, Qualcomm, National Instruments, Pivotal, SAP and the start-ups in the Silicon Valley, Silicon Alley, European Union, and Silicon Wadi to witness how it will generate new streams of revenue through innovative products, services, and solutions to their clients and create a value for the angel investors, venture capital and private equity firms, crowdfunding industry, sovereign wealth funds, and institutional and individual shareholders in stock markets all around the world.
Rock-solid security (logical and physical) combined with privacy laws and policies will be the critical enabler of the Internet of Everything Economy. At the same time, a comprehensive set of government acts, laws, and regulatory frameworks and technical standards needs to be developed to harness the potential of new models of interactions among government, enterprises, and individuals. More on IoT at https://www.linkedin.com/pulse/20140813052721-4114386-internet-of-everything-ioe-is-it-a-19-trillion-opportunity
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