Enterprise networking vendor Cisco has shared details of how Internet of Everything (IoE) will transform key industry verticals such as healthcare, retail, transport, energy and manufacturing in the U.K.
Cisco says 50 billion things will be connected globally by 2020, creating $19 trillion worth of value to the industry.
Sharing a report, called The Internet of Everything: Bringing the Future to Life, Phil Smith, chief executive, Cisco UK & Ireland, said: “With just 1 percent of the physical world connected at this time, this is just the beginning of an amazing future. As connections become smarter, faster and more insightful, we will only see more imaginative and ambitious applications of the IoE which will quite literally change the world.”
In the healthcare sector, which faces several challenges, Cisco advises that the industry needs a different thinking and new operational models to empower medical staff, carers and the patients. Communication technology like 4G will enable patients to manage their own healthcare conditions, medical staff to keep track of recovery remotely and automatically update health care records.
Global retail industry is going through an IT transformation. Cisco says IoE will enable retailers to attract more consumers. Retailers can market their products in a time-specific targeted way. They can make informed decisions based on customer behavior. Retailers can customize their offerings to their clients.
Cisco said smart cities – powered by connections and intelligent engineering of railways, stations, vehicles and roads — will transform the daily commute and transport network.
Consumers and enterprises can look forward for the remote monitoring of infrastructure conditions through digitally connected tracks and roads to the provision of real time data and journey-planning applications.
UK is likely to face energy shortfalls approaching 10 percent by 2015. Cisco said the use of smarter devices allows us to be less wasteful through the more measurable use of energy. The networking of everything from our thermostats to the sensors that monitor our homes can help us toward a more productive energy future.
Manufacturing industry will utilize sensors and monitoring devices for production process and products to improve customer relationships with purchases. Manufacturers can frame strategies for tracking product lifecycles from the raw materials in the field through to refurbishment and renewal to improve productivity.