Phil Smith, CEO of Cisco UK & Ireland, today laid out his company’s vision for the future of the Internet of Things.
Smith, who was appointed chairman of the UK Technology Strategy Board last year, said that IoT would have a market value of $19 trillion (£12.15 trillion) over the next ten years.
“By 2019, there will be 24 billion devices with an IP address,” Smith said. “For every person that joins the internet, there will be ten things that are connected.”
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Speaking at Interop London, the thought leader said that within the next four years, 40% of data would be coming from sensors.
Cisco has been forming an increasingly clear vision of where it sees the Internet of Things going in the coming years. Of course, it’s not the only major vendor making a power play on IoT, but it is certainly one of the better positioned.
In this new-fangled world of things, the network will play an increasingly vital role, and Cisco knows that it is a dominant force when it comes to the glue that will hold IoT together.
“From our perspective, as all these devices get connected, the network becomes a sensor itself. The network is touching everything and can look at behavioural patterns and make determinations.”
Interop, the flagship event of London Technology Week, takes place at ExCeL London June 16 to 18 2015. Find out more here.Sean McGrath is a freelance IT writer, researcher, and journalist. He has written for PC Pro, the BBC, and TechWeekEurope, and has produced content for a range of private organizations. Although he holds a first class degree in investigative journalism, his dreams of being a ... View Full Bio