Bulletin

£100bn leg up from Internet of Things

digital world

The latest wave of the Internet of Things could be worth £100bn to UK start-up companies within 10 years, according to IT group Cisco. The 'Internet of Everything' is defined by Cisco as the business of connecting people, processes, data and devices without the need for human interaction to create a more efficient digital world. It includes smart fridges that can place an online order for staples such as milk or eggs when supplies run low; remote monitoring systems for the elderly; and sophisticated tagging devices that monitor endangered species to protect them from poachers. Healthcare businesses could generate over £48bn from the IoE, according to Cisco, as a result of wearable technology which can transmit data about heart rate, blood pressure and oxygen levels automatically. Retail start-ups also stand to make £37bn from IoE, the report found. Transport companies will generate £11bn from the trend, and energy start-ups £7bn. Phil Smith, chief executive of Cisco UK and Ireland, commented: 'The new industrial revolution starts here.'

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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