Consultancy McKinsey & Co. estimates US$6.2 trillion in benefits by 2025 from the Internet of Things. Technology vendor Cisco projects that organizations will capture US$14.4 trillion in value during a similar period. This is perhaps the biggest technological transformation of everything that the world has ever seen so far. Are you seizing the opportunities and mitigating risks?
- The world of synced devices, home appliances and wearable technology will start to mainstream.
- Smart-home, health-related and connected-vehicle applications will churn out higher average revenue per user than industrial and enterprise or public infrastructure applications.
- ‘Smart Bands’ will add blood oxygen, respiratory rate, blood pressure, and body temperature sensors to Watches.
- 130m smart wearable devices will ship in 2018 – 10 times the number in today’s market.
- Wearable band shipments will grow 129% year on year to reach 43.2 million units in 2015.
- Smart clothing will deliver to a sports fan tactile, visceral sensations as they watch a game from her living room, while couples will share immersive intimate moments across vast distances.
- Devices like smart watches, headbands and belts will all work well using magnetic field human body communication.
- Smart Classrooms Market is expected to grow from USD 43.27 Billion in 2015 to USD 93.76 Billion in 2020, at a CAGR of 16.7%.
- Sales of AR smart glasses are expected to be worth $1.2 billion in two years’ time (2017).
- For brands prepared to invest in smart engagement strategies, the rise and rise of athleisure presents a key opportunity to exploit a new obsession.
- Rapid urbanization, global connectivity and digital convergence of next-generation IT solutions will open up growth opportunities for IoT and cloud-based solutions in smart buildings.
- Valuing a smart building will be even more difficult as its valuation will have to rely on physical structures as well as digital features within the building and its environment.
- Smart cities are a $7.5 billion annual opportunity for technology providers by 2020.
- Annual smart city technology investment in Asia Pacific will almost quadruple by 2023.
- World-leading names in lighting and smart cities solutions will leverage strengths in real-world Internet of Things applications.
- Property value drivers will be increasingly embedded into digital maps.
- Living architecture affecting buildings’ structures will become the norm.
- Samsung smart TVs could capture ambient audio collected from its customers and transmit that to “third parties”.
- Home security will factor in as a related growth area with the rise of the smart house and appliances.
- Technology will enable smart ticketing to work across thousands of devices including railway station gates, validators and ticket machines.
- Upcoming AI and vehicle robotics technologies could allow the elderly to maintain their independence.
- Automakers are already developing cars that can anticipate a driver’s heart attack or sudden disability to bring the vehicle to a safe halt.
- The total cost of ownership for business operations will be reduced by 30% through smart machines and industrialized services.
- Purpose-built data centres will become an essential component within theinfrastructure of every smart city.
- Companies that aim to enhance the value of the grid to all customers will usetechnology to improve system performance and customer engagement and to provide flexibility.
- There will be huge opportunity for businesses who can offer smart home technology as a service-installing, monitoring, and maintaining it.
- The number of networked devices will surge to 25 billion units by 2020 from about 900 million in 2009.
- Big Data analytics and decision support tools will be a major driver in tomorrow’s digital hospital.
- Enabling collaborative manufacturing and real-time connectivity between the end consumer and the manufacturer will accelerate plant-floor automation and help ICT providers anchor their place in the global smart plants space.
- Collaborating with industrial automation providers to design, integrate and implement fully automated plants based on manufacturer requirements will be a crucial step in bringing the concept of smart plants to reality.
- Connected home technologies like thermostats and home security systems could introduce new risks that home owners and even manufacturers hadn’t considered.
- Weather forecasts and historical data predict the likely magnitude of an outage based on the age of the equipment in the area and other factors.
- One possibility is that the tech could be used by the UK government to police the bedroom tax in council housing (Big Brother! is watching you!)
- Data gleaned from smart heating systems in rented housing could be extracted by landlords keen to cut their heating bill.
- Smart Dust could measure the health of water supplies or nuclear facilities or even large groups of people.
- Military tacticians could envision Smart Dust as some kind of advanced scout in theaters of war.
- Some consumers will fight employer tracking.
- Smart information systems could be implemented that enable participants at the distribution level to see the real costs of all aspects of the electricity system.
- Smart machines will increase productivity.
- One in three jobs will be converted to either software, robots or smart machines.
- ICT will be used for communicating between surveillance systems, transportation sectors, control centers and service providers for providing traffic management, building management, security services.
- The economic future of people will increasingly depend on being able to live and work in a connected and interactive smart city.
What future opportunities and risks could arise for your organization from advances in smart technologies? Develop your answer and response here.
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