Cisco detailed its views on the IoT during its Editors Day event, parading out a conga line of distinguished technologists and engineers to talk about the future connected world.
“The value at stake of the Internet of Everything is $14.4 Trillion,” Rob Lloyd, Cisco’s president of Development and Sales, said during the event.
The value from the Internet of Everything (IoE) comes from multiple areas. The first is that it will improve the utilization of things and make the world more efficient, which Cisco pegs at $2.5 trillion. Lowering expenses by improving employee productivity makes up $2.5 trillion of Cisco’s IoE estimate. Supply chain and logistics improvements that will reduce the cost of producing and delivering goods and services is worth $2.7 trillion for IoE. Cross selling opportunities that will deliver better customer experiences via IoE represents $3.7 trillion. Unlocking new innovation potential through research and development as well as new models for competition is worth another $3 trillion.
In Cisco’s determination, the Internet of Everything has the potential to grow global corporate profits by 21 percent in aggregate by 2022.