FEATURE: IOT
IoT’s point of inflexion
still a year ahead
With a recent Cisco study
indicating that 60% of IoT
projects stall at the proof of
concept stage, it is apparent
that the point of inflexion may
still be at least a year ahead.
By Arun Shankar.
C
isco predicts the Internet of
Things will become a $19 trillion
market over the next few years
while IDC predicts that the worldwide
installed base of IoT endpoints will grow
from 14.9 billion at the end of 2016 to
more than 82 billion in 2025. At this
rate, IoT may soon be as indispensable
as the Internet itself. the world’s highest cloud traffic growth
rate at 41%. By 2021, more members
of the global population will be using
mobile phones (5.5 billion), than bank
accounts (5.4 billion), running water
(5.3 billion), or landlines (2.9 billion),
according to the 11th annual Cisco
Visual Networking Index Global Mobile
Data Traffic Forecast, 2016 to 2021.
Despite the forward momentum, a
new study conducted by Cisco shows
that 60% of IoT initiatives stall at the
proof of concept stage and only 26%
of companies have had an IoT initiative
that they considered a complete success.
Even worse, a third of all completed
projects were not considered a success. “Let us define what we mean by third
platform technologies. IDC coined this
term to mean an emerging platform
for growth and innovation built on the
technology pillars of mobile computing,
cloud services, big data and analytics,
and social networking. I believe that IoT
and the third platform technologies will
have to go hand in hand especially since
the next phase for the third platform
will be extending to IoT,” remarks Fady
Younes, Deputy Managing Director and
Operations Director of East Region at
Cisco Middle East.
The Middle East is primed to become
a global driver in IoT connected
innovations. As Cisco’s Global Cloud
Index Forecast estimates by 2019, that
the Middle East and Africa will have
40
INTELLIGENTCIO
“Middle East
is primed to
become a global
driver in IoT
connected
innovations.”
www.intelligentcio.com