Cisco’s Internet of Things World Forum (IoTWF), which was held at the World Trade Centre in Dubai, has been the central hub for IoT related information. Since the start of the conference, the company has revealed a plethora of facts and figures relating to IoT.
The Internet of Things World Forum is, according to Cisco, an exclusive industry event. Last year’s event in Chicago was attended by more than 1600 delegates including 84 media and analyst representatives, headlined by 13 speakers representing the best and brightest thinkers, practitioners, and innovators in the IoT landscape.
With 2014 hosting top-tier speakers and sessions, here are the top stats revealed at the 2015 IoTWF:
1. The 600 largest cities in the world are expected to generate 65 percent of global GDP growth through 2025 – the impact of IoT technologies can be substantial.
2. 35 percent of manufacturers will offer smart products by 2016 (Oxford Economics).
3. Navigant research estimates that LED based retrofit lighting sold to commercial spaces will go from 15 percent today to 76 percent by 2024.
4. By 2020 more than 5 billion people will be connected not to mention 50 billion things (World Economic Forum).
5. The market for IoT components and systems grew 160 percent in 2013 and 2014, and could exceed 30 percent a year through 2025.
6. IoT in Healthcare: $1.1 Trillion potential annual value of IoT from monitoring and treating patients with chronic diseases.
7. IoT in manufacturing: 33 percent of US manufacturers are currently collecting and using data generated by smart sensors to enhance manufacturing/operating processes (PWC).
8. IoT in Oil and Gas: 99 percent of data collected from 30 000 sensors on an oil rig is lost before reaching operational decision makers.
9. IoT in Education: IoT technology is bolstering education to bring about an age of digital learning, updating campuses and classrooms globally for the better.
10. IoT in Transportation: Iot Transportation applications could be worth more than $800 billion per year to cities around the world.
11. IoT in Energy: Verizon data shows 49 percent year-over-year growth in the number of IoT connections in the energy and utilities sector (Verizon).
12. By 2020 75 percent of businesses will become fully digital. Only 30 percent of these digitisation efforts will be successful. The number one reson companies don’t succeed is because they fail to innovate and reinvent.
13. 87 percent of CEOs think going digital is crucial; however only 7 percent actually have a digital strategy.
14. In 10 years, it’s predicted that 40 percent + of enterprise companies will no longer exit.
Darryl Linington
