The Internet of Things boosts the economy with profit forecasts of 613.000 million dollars

Service and manufacturing companies will be the ones that achieve better results thanks to the Internet of Everything, market that, according to Cisco's IoE Value Index report, will generate 2013 a benefit of 613.000 million dollars.

He Informe IoE Value Index published by Cisco estimates that the Internet of Everything business (IoE) could generate benefits of 613.000 millions of dollars in 2013, but this figure could increase in others 544.000 million more if private sector companies adapted their strategies to take advantage of the advantages offered by this technology.

“The Internet of Everything has the potential to significantly boost the economy and transform key industries”, explica Rob Lloyd, President of Sales and Development at Cisco. “The question is who will benefit the most from this new economy.”, and what the report reveals is that success does not depend on the geographical location or the size of the companies, but the ability to adapt more quickly”.

Between the different sectors of activity, services (158.800 million dollars) and manufacturing (103.100 million dollars) are those who are expected to obtain the greatest benefits in 2013.

Besides, The main drivers of IoE value in 2013 be the supply chains, consumer experiences, innovation, asset utilization and employee productivity.

IoE components

The Internet of Everything is the connection of people, processes, data and objects, and the additional value resulting from everything being connected to the network, while the different technological transitions, including among others the Internet of Things, mobility, cloud computing and Big Data, They are components of the IoE.

“The study confirms the potential of the Internet of Everything and our ability to together make the world a smarter place”, Jeff Hagins points out, SmartThings CTO. “With the SmartThings platform and open community, “We believe that a greater number of creators and developers will be able to participate in the value chain to turn this opportunity into a reality.”.
The results of the Internet of Everything Value Index Report confirm the data revealed by Cisco at the beginning of the year, which indicate that private sector organizations could obtain a potential benefit on a global scale of up to 14,4 billions of dollars (11 billions of euros) in the next decade by leveraging the benefits of IoE to optimize your operations and customer service.

The study also reveals that the 69 percent of business leaders surveyed believe the global labor market will remain static or improve as a result of the IoE, while the 89 percent believe that salaries will improve or remain as they are. Besides, Business leaders believe the Internet of Everything will help drive greater information security, indicating that they understand the importance of security and privacy in the IoE. He 50% of those surveyed believe that the IoE will improve security, while the 2% considers that this aspect will not change.

Although organizations in the United States are expected to, China and Germany obtain the highest corporate profits in 2013, the value generated by the IoE will be shared among companies around the world. It is expected that the twelve countries included in the study, which add up to close to 70% of the world's Gross Domestic Product, share the value generated by the IoE. Business leaders from emerging countries, led by India and China, are the most optimistic when it comes to capturing value from IoE

Achieve higher IoE value

To achieve greater value in the IoE economy, Companies should invest more in high-quality infrastructure and technological tools, adopt and follow inclusive practices that allow all employees to contribute, and design effective information management strategies.

To maximize value captured through IoE, Companies would have to focus on those capabilities that most benefit their sector of activity..

According to the report, although we are in the early stages of the evolution of the Internet of Everything, Organizations can get huge incentives if they align their strategy around this new phase of the Internet. In the next ten years, Companies that take advantage of the IoE to generate new value or capture value from competitors that do not adapt as quickly could access a potential benefit of up to 14,4 billions of dollars (11 billions of euros).