The developing value of the Internet of Things
Cisco adds real-world grounding to its Internet of Everything concept
In November 2012, Cisco introduced the Internet of Everything as a concept and stamped it with a total value of approximately USD $14.4 billion through 2022. The term and the services around it all seemed a bit futuristic at the time, but with the recent release of Cisco’s IoE Value Index, the company is claiming there is approximately $1.2 trillion in value to be made in 2013 from the Internet of Everything. In fact, the company believes businesses around the world are already tapping into the value of the Internet of Everything, something they have dubbed the fourth phase of the Internet.
What is the Internet of Everything?
Actually, Cisco’s Internet of Everything is derived from the term Internet of Things, which was purportedly first used by Kevin Ashton, co-founder and former executive director of the Auto-ID Center, who claims he first used the term Internet of Things in 1999 to describe the possibilities presented by RFID technology.