how the internet of things will change everything

How the Internet of Things Will Change Everything · 1

OF THINGS

HOW THE

INTERNET WILL CHANGE EVERYTHING


This white paper provides an overview of what the Internet of Things (IoT)

is and what it means for you and your organization. As you read on you will

see forecasts, stats and quotes related to IoT devices. We will also examine

how your industry will be impacted. Lastly, we will highlight the challenges

associated with the growth of IoT, how you can tackle those challenges –

and what the future holds for this technology and your business.

– IDC, June 2014

A TRANSFORMATION IS UNDERWAY THAT WILL SEE THE WORLDWIDE MARKET FOR IOT SOLUTIONS GROW FROM $1.9 TRILLION IN 2013 TO $7.1 TRILLION IN 2020.

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INTRODUCTION


WHAT IS THE INTERNET OF THINGS?

The Internet of Things, often referred to as “IoT”, describes a paradigm shift

and it will impact every person, home, business and public infrastructure

in the developed world over the next decade, likely sooner. According to

Gartner, “The Internet of Things (IoT) is the network of physical objects that

contain embedded technology to communicate and sense or interact with

their internal states or the external environment.”1

The Internet of Things was essentially born between 2008 and 2009, at the

point when more ‘things or objects’ were connected to the Internet than

people2. However, perhaps the first connected device of sorts was the toaster

John Romkey invented and presented at the 2009 INTEROP conference. It

could be turned on and off via the Internet and was the first glimpse of things

to come.

The proliferation of mobile phones has changed our lives, the work place and

society forever. We believe that IoT will have an even greater impact. Just over

the last year alone, the number of global start-ups with IoT related concepts has

grown from 100s to 10,000+3 and within good reason. New chipset, sensor and

communication technology (that is smaller, cheaper, more modular and energy

efficient) is enabling us to realize concepts we only found in science fiction

novels, several years ago. Pairing this rapid technological progression with the

advancements in telecom networks and powerful cloud computing, allow us

to connect all of the devices together, analyze the data and provide intelligent

services through software.

1. Gartner http://www.gartner.com/it-glossary/internet-of-things/2. Cisco Internet Business Solutions Group3. Start-up Weekend, Seattle, 2014.

Smart Systems & the Internet of Things are driven by a combination of:

1. Sensors & Devices

2. Connectivity

3. People & Process

"The IoT has the potential toimpact everything from new product opportunities, to shop floor optimization, to factory worker efficiency gains that will power top-line and bottom line gain." - Goldman Sachs


HOW WILL THE GROWTH OF IOT IMPACT BUSINESS LEADERS?

IoT will touch on every part of your life and society in the next couple of years.‎

For example, you will be able to control the temperature in your apartment from

your phone while on vacation in Bali or understand how many people walk into

each of your store locations, in Hong Kong, Cape Town, and Milan, from your

mobile device in New York.

Our homes are becoming intelligent, personal and public transportation is

transforming through connected vehicles, public buildings and infrastructure

are getting connected improving: security, energy usage, accessibility and

utilization. Additionally, public servants are enabled to spend more time serving

citizens and less time at a desk. The work place is changing everywhere with

processes and tools being mobilized and near-ubiquitous connectivity. We are

also seeing every sport and hobby changing through the use of wearables and

smart devices.

At DMI, we have been working with numerous clients on making the benefits

of IoT a reality for their business. For our Healthcare clients, we have been

developing platforms with the use of connected sensors, which will revolutionize

the way they engage their consumer. By leveraging the information gained

from sensors, the healthcare products they sell will no longer be used to

manage symptoms, but will become an integral part of patient health, through

predictive data.

4. Strategy Analytics, October 2014

"The Internet of Things hasthe potential to transform industries and the way we live and work." - Gartner

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http://pages.dminc.com/IoT.html

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