There’s a new technological force sweeping the globe, potentially worth an estimated $14 trillion over the next decade. This same force has the potential to boost aggregate corporate profits 21% globally by 2022. This growing force is the Internet of Everything, or IoE.
What is it and why is it important?
The above estimates came from a report by Cisco Systems, Inc. (NASDAQ:CSCO), one of many companies bringing the IoE to life. The below graphic, supplied by QUALCOMM, Inc. (NASDAQ:QCOM) gives a visual conceptualization of the Internet of everything:
The IoE is important because it’s the next step in the Internet’s evolution, where everything from appliances to automobiles will be connected with the capability to share data and communicate over the Internet.
Cisco Systems, Inc. (NASDAQ:CSCO) believes that once nearly all of our everyday items and devices are connected, the human race will “unlock capabilities we haven’t seen yet”– revolutionizing everything from manufacturing to public transportation and making them more efficient. Inroads to establish the IoE are already being made.
The new face of home security?
Earlier this year, Cisco Systems, Inc. (NASDAQ:CSCO) announced a partnership with AT&T Inc. (NYSE:T) to help create the Digital Life platform, which will allow customers to manage home security, energy consumption, and other applications through a combination of AT&T Inc. (NYSE:T)’s software and Cisco Systems, Inc. (NASDAQ:CSCO)’s wireless technology. The Digital Life platform is home security blended with the IoE, where customers will be able to monitor and control everything from their thermostats to motion sensors remotely from their PC or smartphone.
AT&T Inc. (NYSE:T) is also partnering up with QUALCOMM, Inc. (NASDAQ:QCOM) to expand its reach into the IoE, creating a new platform for developers to create a range of cellular-connected products and applications for things such as tracking and health care. Chris Penrose, a senior VP with AT&T Inc. (NYSE:T) said that “This IoE development platform opens a world of opportunity for equipment makers who want to connect their devices to the mobile Internet… Wireless connectivity makes products better, and this IoE development platform makes it easier for both existing and new AT&T developers to embed wireless into their products.”
The new platform will run on QUALCOMM, Inc. (NASDAQ:QCOM)’s Gobi QSC6270-Turbo Integrated Chipset, a modem solution for 3G. According to a press release, it will allow developers to decrease time-to-market for a wide range of applications and devices to connect to the AT&T Inc. (NYSE:T) mobile Internet.
The telecom giants’s foray into the IoE is smart, because as more devices become connected, there will be an increasing demand for security as well, and the company is getting the first-movers advantage by leveraging its network with Cisco Systems, Inc. (NASDAQ:CSCO)’s technology to develop its Digital Life ecosystem. The company is also opening up IoE innovation centers to attract developers for its new platform and working with the assistance of QUALCOMM, Inc. (NASDAQ:QCOM).