For Canada, How Big is “Everything” in The Internet of Everything?

Big: adjective \ˈbig\: a obsolete: of great strength b : of great force <a big storm> 2 a : large or great in dimensions, bulk, or extent <a big house>; also : large or great in quantity, number, or amount <a big fleet> b : operating on a large scale <big government>

– The Oxford English Dictionary

I like this definition of “Big” from The Oxford English Dictionary. It’s a common word most of use on a regular basis and it is a good descriptive word when measuring quantity and scale. When we think about the Internet of Everything (IoE) that connects people, processes, data and things, how can we begin to measure what those connections mean? How big is “Everything”?

At Cisco, we have several perspectives on how to measure the growth and development of the Internet of Everything. We are all familiar with the explosion of the mobile Internet and according to the recent Cisco Visual Networking Index study, we know that by the end of this year, the number of mobile-connected devices will exceed the number of people on earth.

For Canada, How Big is “Everything” in The Internet of Everything?

An even more staggering assertion is the growing number devices that connect to the Internet. In 2010 there were over 12.5 billion devices. Cisco’s Internet Business Solutions Group (IBSG) predicts some 25 billion devices will be connected by 2015, and 50 billion by 2020.

Based on Oxford’s definition, we can also define “big” as a “great force.” When the definition is applied to the Internet of Everything, we can discuss the connective force of IoE to improve innovation, productivity, efficiency and customer experience. By measuring this value at stake, we can have a better understanding and another form of measuring the impact of the Internet of Everything.

In Canada, the Internet of Everything Value at Stake – the combination of increased revenues and lower costs that is created or will migrate among companies and industries over the next 10 years – is estimated to be a total of $400 billion. There are five main factors that fuel IoE value at stake:

  1. Asset utilization (reduced costs)
  2. Employee productivity (greater labor efficiencies)
  3. Supply chain and logistics (eliminating waste)
  4. Customer experience (addition of more customers)
  5. Innovation (reducing time to market)

For 2013, the value at stake is estimated to be $57 billion and these five factors account for approximately $30 billion of value realized leaving Canada with a large gap to fill before we are able to fully reap the benefits the Internet of Everything offers.

One of the greatest benefits and challenges of the Internet of Everything is the drive to innovate.  Recently, I had the opportunity to listen to Kevin Lynch, Vice-Chair of the BMO Financial Group as he discussed the need to increase innovation and productivity in Canada. For years he has worked to advocate the importance of Canada investing in our future through innovation. In a 2010 Globe and Mail article, he stated:

“Innovation allows you to create new products, new processes, new markets, ways of doing things differently… It actually creates really dynamic economies. It actually uses intellectual property. It creates brand value. It really does drive things dynamically. It’s important for productivity, it’s important for growing, to have innovation for a growing economy.”

The importance for Canada to lead innovation is crucial. As Canada ranked 14th for a second year in a row on the World Economic Forums’ ranking of most competitive economies, we are at a point in time that Canada can innovate through the Internet of Everything and realize the value at stake.

When it comes to whether or not the Internet of Everything is big, the most distinctive type of measurement is how big of a benefit IoE can be to Canada. Through the Internet of Everything, we not only have the opportunity to raise our productivity world ranking, but improve our lives. There is nothing more important, or bigger than that.

About Victor Woo

Victor serves as the GM for the Internet of Things (IoT) for Cisco Canada. As one of Cisco’s top priorities, IoT extends internet technologies to devices within industrial markets (Manufacturing, Utilities, Transportation, Machine to Machine, etc). He currently oversees sales and business development initiatives for IoT related activities within the Canadian marketplace. As a 17 veteran of Cisco, Victor has held previous roles in systems engineering (CCIE 3838) and sales for various markets including banking, public sector, manufacturing, retail, hi tech and service provider. For his achievements in sales excellence, Victor has earned Chairman’s Club Award three times at Cisco - a distinction that is reserved for the top 1.5% performers personifying, customer satisfaction, leadership, teamwork and innovation. Prior to joining Cisco, Victor held positions at Nortel Networks in Product Management and Information Technology. Victor holds a Bachelor’s Degree in Systems Engineering and Management Sciences from the University Waterloo. À titre de DG, Victor dirige les initiatives relatives à l'Internet des Objets (IdO) pour Cisco Canada. En tant que l'une des principales priorités de Cisco, l'Internet des Objets prolonge les technologies Internet aux périphériques utilisés dans les marchés industriels (fabrication, services publics, transport, machine à machine, etc.). Il supervise actuellement les initiatives de développement des ventes et des affaires pour les activités liées à l'IdO sur le marché canadien. Fort de 17 années de service chez Cisco, Victor occupait auparavant des fonctions en ingénierie et vente de systèmes (CCIE 3838) dans divers marchés notamment dans le secteur bancaire, le secteur public, le secteur de la fabrication et de la distribution, ainsi que dans le secteur des hautes technologies et des fournisseurs de services. Pour ses réalisations et pour avoir fait preuve d'excellence dans le domaine des ventes, Victor a gagné à trois reprises le Prix du club du président chez Cisco - un honneur réservé au 1,5 % des employés les plus performants personnifiant la satisfaction à la clientèle, l'initiative, le travail d'équipe et l'innovation. Avant de se joindre à Cisco, Victor a œuvré au sein de Nortel Networks dans des postes de gestion de produits et de technologies d'information. Victor détient un diplôme de premier cycle en ingénierie des systèmes et sciences de la gestion de l'université Waterloo.
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2 Responses to For Canada, How Big is “Everything” in The Internet of Everything?

  1. Pingback: Next-Gen Canadian Infrastructure Depends on A Highway Built of Bits and Bytes | Cisco Canada Blog

  2. Pingback: Why faster devices, video and machine-to-machine traffic are driving rapid growth in mobile data | Cisco Canada Blog

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