Cisco's New Market: The Internet of Things

by Parks Associates | Jun. 7, 2013

According to John Chambers, CEO at Cisco, the Internet of Things (IoT) will create $14 trillion in profits over the next 10 years by putting objects like cars, door locks, appliances, and smart meters on the Internet.

Cisco believes that by 2017, there will be about 2.8 billion machines on the Internet, which is about 30% of the devices connected to the internet worldwide, up from 960 million devices and 17% in 2012.

These devices will lead to the creation of new apps, services, support jobs and will cause businesses and service providers to upgrade their networks, too. Cisco has even coined a phrase for this: the "Internet of Everything”.

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