Cisco CEO John Chambers Heralds Trillion Dollar IoE Boom
January 8, 2014
Thought leaders are looking beyond smartphones in anticipation of smart cities and smart nations. The Internet of Things — or what Cisco Chairman and CEO John Chambers refers to as the Internet of Everything (IoE) — presents a $19 trillion revenue opportunity. “Think of the change the Internet brought into our lives, and imagine that 5- to 10-fold over the next decade,” Chambers shared in a Tuesday keynote address at the Venetian during CES.
Chambers shared his findings from proprietary 2013 studies including one that analyzed 7,500 businesses in 13 countries. That figure breaks down to $14.4 trillion in private revenues and savings and $4.6 trillion from the public sector. Retail represents a $1.5 trillion opportunity.
Cisco is one of the top two suppliers of networking equipment in the world (the other being China’s Huawei). Although the finding is somewhat self-interested, it doesn’t ring untrue that in the boom times ahead companies that maximally leverage IoE can significantly increase profits.
Chambers was joined onstage at various times by comedian Sarah Silverman, AT&T Mobility President and CEO Ralph de la Vega and Antoni Vives, the vice mayor of Barcelona. His presentation to a full house in the Venetian Palazzo Ballroom emphasized big data as the roadmap that will allow society to productively navigate the interconnected landscape, with smart devices driving the journey.
The presentation also included a demonstration of cloud enhancements to Cisco’s Videoscape TV delivery platform. Videoscape will now be offered on a consumption-based model, its software and APIs accessible through the cloud and open via OpenStack. The move is designed to make Videoscape more affordable and accessible, positioning it as a turnkey IT solution media companies can use to deploy and scale new video applications on demand, using little of their own equipment, saving time and money and obviating the need for internal coding and integration.
For more details, visit the press release: “Cisco Expands Videoscape TV Platform into the Cloud.”
To watch Chambers’ CES keynote, visit the Cisco webcast page.
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