Published: January 7th, 2015

In his keynote address to the 2015 Consumer Electronics Show (CES) in Las Vegas on Monday, Samsung Electronics CEO BK Yoon launched a call for greater openness and collaboration across industries in order to harness the potential of the Internet of Things.

First popularized by networking vendor Cisco Systems and estimated to be a global market worth some $19 trillion, the term Internet of Things refers to the interconnection of embedded computing devices across the Internet, going beyond machine to machine communications to see devices, systems and services dynamically connected and interoperating. Gartner predicts there will be nearly 26 billion devices in this Internet of Things by 2020.

“The Internet of Things has the potential to transform our society, economy and how we live our lives,” said Yoon. “It is our job to pull together — as an industry, and across different sectors — to make true on the promise of the Internet of Things.”

To be successful, Yoon told attendees that the Internet of Things shouldn’t really be about things, but about people. It must fit into their lifestyles seamlessly, and adapt and change as people move through their world.

Samsung has committed to making all of its technology Internet of Things-ready within five years, beginning with all Samsung televisions by 2017. The vendor is also investing more than US$100 million in its developer community this year to help build the Internet of Things ecosystem.

Key to Samsung’s Internet of Things vision is more precise, compact and energy efficient sensors. Yoon said Samsung is developing new advanced sensors precise enough to understand a person’s surrounding environment and offer the right solution or service, including a new three-dimensional range sensor that can detect even the smallest movements. It’s also working on chips – including the embedded package on package and the – which can go into wearables and mobile devices.

“Expanding the devices in the IoT ecosystem and the components that power them is the first step in fulfilling the promise of the Internet of Things,” said Yoon. “Samsung already has a broad range of IoT devices. Last year, Samsung delivered more than 665 million products, and this number is set to increase. We have already begun to unlock the value hidden in connected devices and all the everyday objects around us.”

No vendor can realize the Internet of things vision alone though, said Yoon. It will require companies across all industries working together to build the infrastructure and develop tailored services to meet the needs of the market.

“I know in my heart that neither one single company nor one industry alone can deliver the benefits of the Internet of Things,” said Yoon. “To create this Internet of Things universe, we have to see the potential of the Internet of Things across all kinds of industries. Only if we work together can we improve people’s lives.”