Networking vendor Cisco Systems created the term Internet of Everything (IoE) and now it’s putting a pricetag on the related opportunity for the public sector: $4.6 trillion.
That’s the value the IoE could generate for public sector organizations over the next decade, according to a new Cisco study. The value would come from helping governments save money, improve employee productivity, generate new revenue and enhance citizen benefits.
Cisco defines the IoE as “the networked connection of people, process, data and things, and the increased value that occurs as ‘everything’ joins the network.” A number of trends, such as mobility, cloud computing and big data are making it possible.
As an example, Cisco points to the City of Barcelona in Spain, which is using video and collaboration technologies to allow citizens to virtually interact with city hall, and has implemented other “IoE” solutions in water management, smart parking, waste management and connected buses.
The vendor sees a number of “killer apps” for cities, such as smart buildings, gas monitoring, smart parking, water management and road pricing.
“With more of the world’s population moving into urban centers daily, cities must become more flexible and responsive to citizen needs, while making the most of public resources,” said Wim Elfrink, Cisco’s EVP of industry solutions and chief globalisation officer, in a statement. “The Internet of Everything is transforming how cities deliver services and how citizens interact with government.”
