A trio of firms that includes GE, Gartner Research and Cisco are moving forward on initiatives or making strong predictions regarding the “Internet of Things,” according to a recent article by Joe Panettieri, at Information-Management.com. The Internet of Things is defined as embedded computing devices interconnected with the existing Internet infrastructure. Examples include automobiles with built-in sensors; smart thermostats; and home appliances that are networked for remote monitoring. Among their findings, predictions and progress points…
- The Internet of Things (IoT) will include 26 billion units installed by 2020, Gartner predicts. By that time, IoT product and service suppliers will generate incremental revenue exceeding $300 billion, mostly in services, Gartner forecasts.
- There will be more mobile devices and smartphones connected than the total global population by 2015, according to Cisco. By 2020, more than 5 billion people will be connected, not to mention 50 billion things, Cisco forecasts.
- Big companies see IoT opportunities from different angles. GE, for instance, refers to the global network connecting people, data and machines as the Industrial Internet. Moreover, the Industrial Internet has the potential to add $10 trillion to $15 trillion to the GDP (global domestic product) from 2012 to 2032, CEO Jeff Immelt has predicted. GE is investing $1 billion to develop related Industrial Internet technologies and applications.
- For IoT to really thrive, vendors and customers will need to embrace open standards that improve device monitoring and management; big data information gathering and analytics; and overall network communications. Key IoT standards initiatives are underway at the IEEE Standards Association.
- More than 100 companies are already embracing new open-source standards, including consumer electronics companies, home appliance makers, auto makers, cloud providers, retailers, software developers and more.
- The increasing digitization and automation of the multitudes of devices deployed across different areas of modern urban environments are set to create new security challenges to many industries, according to Gartner. Significant security challenges will remain as the big data created as a result of the deployment of myriad devices will drastically increase security complexity. This, in turn, will have an impact on availability requirements, which are also expected to increase, putting real-time business processes and, potentially, personal safety at risk, Gartner asserts.
- The impact of the IoT on storage infrastructure is another factor contributing to the increasing demand for more storage capacity, and one that will have to be addressed as this data becomes more prevalent. The focus today must be on storage capacity, as well as whether or not the business can harvest and use IoT data in a cost-effective manner, Gartner asserts.
- Existing data center WAN links are sized for the moderate-bandwidth requirements generated by human interactions with applications. IoT promises to dramatically change these patterns by transferring massive amounts of small message sensor data to the data center for processing, dramatically increasing inbound data center bandwidth requirements, Gartner said.