Moment Research Consultancy -The tipping point for the next phase of the Internet is now. The Internet of Everything, which is the revolutionary connection of people, process, data and things, will drive even greater change in how we do business, live, entertain and communicate, transforming job creation, healthcare and education in ways we never thought possible.
Fueling the Internet of Everything is the tremendous explosion in the number of devices and people connected to the Internet – with more than 50 billion linked devices expected by 2020. We’re beginning to see firsthand that when you connect devices, infrastructures – even communities – amazing things are possible. The Internet of Everything presents a USD $19 trillion global opportunity to create value. It will speed up decision-making and innovation cycles for businesses, providing companies with more information so that they can make the right decisions in real-time.
We are already seeing the great transformation the Internet of Everything can unleash in cities across the globe. As the world undergoes a major urbanization transition, the Internet of Everything will be a key solution for governments – it will allow cities to change the way they operate, saving money and energy, while dramatically improving the lives and experience of their citizens.
For instance, 70 percent of the world’s energy is used by cities. By utilizing intelligent street lighting, which equips streetlamps with sensors and connects them to the greater network, streetlights will stay dim without motion to save energy, which can reduce city energy costs 70 to 80 percent. Even something as simple as waste management can also make a difference. Internet of Everything solutions can offer cities a 30 percent reduction in operating costs via connected garbage cans, which help make routes more efficient, alert maintenance staff when they are full and need to be emptied, and notify them of existence of any gas or hazardous materials.
The Internet of Everything is a reality in Barcelona, Spain, which is one of the few European cities with a budget surplus. By connecting people and things – from garbage trucks and parking lots, to street lights and irrigation systems – Barcelona has completely revolutionized the urban experience. Intelligent street lighting saves the city USD $37 million a year and has even reduced local crime. The city has also leveraged the Internet of Everything to connect its water management system, saving USD $58 million annually, and has even embedded parking spaces with sensors that let drivers know where open spaces exist, creating USD $68 million in value. Cities such as Barcelona are just scratching the surface of what this revolutionary phase of the Internet makes possible.
The Internet of Everything is changing everything and as a result everyone will benefit. Watch below for a glimpse of how this will look in action.
Want to learn about how the Internet of Everything is opening up a world of real opportunities and transforming our communities, our cities and our daily lives? Join the top thought leaders, implementers and creators across public sector, private business and education at the IoT World Forum happening October 14-16 in Chicago, Illinois. Can’t attend live? Be sure to follow along through the event hashtag #IoTWF. We hope to see you there!