May 5, 2014 Comments Off on Cisco: at the forefront of the IoT revolution
Cisco: at the forefront of the IoT revolution
We live in a connected world. We are constantly attached to technology through our smartphones and are able to perform simple actions at the touch of a screen. If you believe what analysts are saying about the Internet of Things (IoT), smart devices are just the beginning of the IoT phenomenon and we are about to see everyday things like cars, buses, motors, refrigerators, and even clothes and shoes performing certain tasks for us. The connected home and connected city are coming and when they arrive they’re going to change the way we live.
The sheer potential of IoT knows no bounds and Cisco understands this. According to Cisco research, more than 50 billion devices will be connected to the Internet by 2020 and that the IoT industry has the the potential to grow globally to as much as US$14.4 trillion by 2022. Which is why last week, the company, through its venture capital arm Cisco Investments, invested in IoT startups including EVRYTHING and Ayla Networks. It also infused funds to Alchemist Accelerator which will diversify to include startups focused on the IoT. The funding is part of Cisco Investments’ “thematic investing,” with dedicated funds totalling US$250 million.
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