Internet of Everything or IoE refers to the network of fixed computing devices that are interrelated individually in the existing internet infrastructure. It is a concept that widens the Internet of Things (IoT) prominence on machine-to-machine (M2M) communications. It brings collectively data, people, process and things to build networked connections more relevant & valuable than ever before-turning information into actions which generate better experience, new capabilities and the unprecedented economic opportunity for the individuals, business and countries. The emergence of IoE technology has addressed the increase in needs for better lifestyles & energy optimization. The growth of portable devices like smart-phones & tablets, support the new technology evolution added to the data input & output, decentralization & moving to the edge and relation to every technology in the process of digital transformation.
The use of IoE are used in city traffic, dynamic pricing, retail, lighting, transportation, vineyards or farming, office furniture, banking & insurance and invisibles.
According to study, “Global Internet of Everything (IoE) Market, By Technologies, Services, Applications, Devices, Verticals, & Regions – Trends & Forecast, 2015-2020” the major companies currently operating in the global IoE market are Cisco Systems, Inc., Qualcomm Technologies, Inc., PTC Inc., SAP SE, Amazon.com, Inc., General Electric Company, Samsung Electronics Co. Ltd., AT&T Intellectual Property, Schneider Electric SE, Ericsson, Hewlett-Packard Development Company, L.P, Accenture PLC, Freescale Semiconductor, International Business Machines Corporation, Fujitsu Ltd., Bosch Software Innovations GmbH, Google Inc., Microsoft Corp., Oracle Corporation, Atmel Corporation, Continental AG.
Based on components, global IoE market is segmented into software, hardware and services. Software components include data management software, communication & collaboration software, IT security software, software analytics and other software. Services components include operation management, consulting, repair & maintenance and integration & implementation etc. Based on technologies, market is bifurcated into application technologies, satellite technologies and infrastructure & network technologies. Application technologies include data virtualization, big data analytics, cloud collaborations and enterprise energy management. Satellite technologies include zigbee, Ethernet, Z-wave, modbus and Power Line Communication (PLC) etc. Infrastructure & network technologies include 4G or LTE, 3G, Wi-Fi and Bluetooth.
The market of global IoE is primarily driven by rising inclination of industries for instance manufacturing & mining towards process automation. Some other driven aspects include increasing government initiatives to adopt IoE technologies and evolution of business models across end-user industries. Apart from benefits, some of the hinder aspects are increasing data privacy or security concerns, followed by lack of high speed connectivity in developing & underdeveloped regions. In addition, some of the new opportunities are rapid proliferation of connections among electronic devices, rising adoption of cloud-based IoT solutions and introduction of smart sensors & devices etc.
The IoE has brought new and vast opportunities for different enterprises ranging from large enterprises to small & medium enterprises, and even for the start-ups. The growth of this market is dominated by North America & Western Europe, and rising markets such as Asia-Pacific (India & China) & Latin America will see an elevated growth in upcoming. Global IoE market is expected remain quite competitive, and it is expected to reach US $23.9 trillion, by 2020. Over the forecast period it is also estimated that above 50 billion of devices to get connected to the internet.
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Ankur Gupta, Head Marketing & Communications