Industry Market Trends
How Will Smart Cities Transform the Future?
July 3, 2013
Last week Cisco Systems hosted a Twitter chat at #SmartCityIoE to raise awareness of its Smart+Connected Communities initiative. "IoE" refers to the Internet of Everything, which Cisco describes as, "bringing together people, process, data, and things to make networked connections more relevant and valuable than ever before." The availability of these connections can potentially turn "information into actions that create new capabilities, richer experiences, and unprecedented economic opportunity for businesses, individuals, and countries." In February, Cisco released a study that estimates a potential value of $14.4 trillion over the next decade for technology and services that connect people to people (P2P), machines to people (M2P) and machines to machines (M2M). This value will be achieved by improvements in:
- Asset utilization ($2.5 trillion)
- Employee productivity ($2.5 trillion)
- Supply chain and logistics ($2.7 trillion)
- Customer experience ($3.7 trillion)
- Innovation and time to market ($3.0 trillion)
- How can the immediate availability of a near-infinite source of both data and information improve the performance and usefulness of my products or services?
- How can my products or services be combined with this same level of information to provide a richer, more productive, more satisfying, and more valuable experience to my customers?