Foreign Minister: Statements Attributed to One of Russian President's Media Are Completely Devoid of Truth    World Bank sees 'major global recession' due to pandemic    WHO opens door to broader use of masks to limit spread of coronavirus    GACA launches Long Distance Learning Platform for Preparatory Year Students    Wall Street falls as coronavirus cuts into U.S. payrolls    KSrelief Distributes 315 Food Baskets in Socotra Governorate, Yemen    Lebanon Reports 14 New Cases of COVID-19    HRH Crown Prince Congratulates Senegalese President on his Country's Independence    Saudi Press: 150 Saudi Doctors, in France, to Combat Coronavirus Pandemic    Official Source at Ministry of Interior: Curfew in Dammam, Governorates of Taif, Qatif to be Scaled forward as of 03pm, beginning on Friday    Host Bids for AFC Asian Cup 2027 Extended    Saudi Stock Market index closes high at 6749.69 points    SAMA Urges Financing Institutions to Provide Services through "Tamweel" Platform    Bangladesh reports first coronavirus death    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    Saudi Aramco International Women's Golf Championship receives more than 100 international players    Liverpool ride early jolt to return to winning ways    Saudi Arabia to Host First Professional Women Golf Tournament    Hail Region Governor to Patronize 2020 Diabetes and Obesity International Conference    Winter at Tantora Celebrates Eastern and Western Culture as AlUla Embraces a Night of Persian Music    Saudi Health Economics Experts Dialogue Forum Held in Riyadh    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    Custodian of Two Holy Mosques addresses Citizens and Muslims on the Advent of Holy Month of Ramadan    Ministry of Hajj and Umrah Launches Awareness Message on Sacrifice Day    Newcastle Beat West Ham 3-0 for their first Win of the Season    Mourinho insists Ibrahimovic must be good enough for Manchester United    Reforms have saved the economy from possible recession, say analysts    The King and Crown Prince congratulates Moldova's President    More than 1,5 million pilgrims arrive in Saudi Arabia, so far    MWL allocates SR 7 million for Eid sacrifice project in 47 countries    Saudi Campaign provides educational and training services for Syrians in Al-Za'tari camp    Saudi student goes missing in Kentucky, US    Harvey lashes Texas US coast with high wind, torrential rain    North Korea tests short-range missiles as South Korea, US conduct drills    Samsung leader Jay Y. Lee given five-year jail sentence for bribery    Known days    "MODON" Signs MoU with Chinese Goldwind Company for wind-turbines manufacturing in the Kingdom    Flyadeal, Saudi Arabia's new low-cost airline, scheduled to launch on September 23, reports    Mastercard launches Masterpass in the Kingdom of Saudi Arabia    Honda among 27 Japan players named for World Cup qualifiers    Joker, Harley Quinn movie in works with 'Crazy Stupid Love' filmmakers    Madhuri Dixit to venture into Marathi films as a producer    Consumers warned against using some brands of face powder, hair products    How 'GOT' makers made the frozen lake in 'Beyond the Wall'    Shraddha Kapoor wants people to help the needy    Neymar targets improvement after phenomenal home debut    Politicizing the pilgrimage    Rakhi 2017: "Bond of Love" between a brother and his sister    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Smart investment to drive global IoT market to $2 trillion valuation by '20
Published in The Saudi Gazette on 31 - 03 - 2016

A gathering of global technology leaders at this week's Internet of Things Expo (IoTX) at Dubai World Trade Centre (DWTC) believe a combination of hyper connectivity, supercomputing, cloud computing, smart technologies and cyber security will make the Internet of Things (IoT) sector the single largest market opportunity for global businesses by the turn of the decade.
"IoT is a great blue ocean of opportunity and we're only just starting to explore it. We expect global IoT spend to reach $2 trillion by 2020," said Anastasia Ribbing Kristoffers, a Senior Managing Consultant for Huawei Technologies, who earmarked healthcare, education, energy and utilities, transport and smart cities as the core industries driving IoT growth.
With two billion smartphones currently being used worldwide and 217 new Internet users every minute, global IoT growth will see 50 billion physical objects connected to the Internet by 2020. Kristoffers revealed Huweai expects the number of connected devices to hit 100 billion by 2025.
When it does, the explosion in data will generate vast capacity for analytics-driven solutions to interpret, monetize and, vitally, secure the information. "IoT data is like oil – it is very valuable but if you spill it, it's dangerous," added Kristoffers.
At present, technology solutions companies such as Huawei are working with device, service and application providers as well as standards bodies to build an IoT ecosystem to support the impending growth in connected devices and data.
Public-private partnerships will be the key to exploiting opportunities – especially in the transformation of smart cities - believes Irfan Khan, Chief Technology Officer, SAP Global Customer Operations, a speaker at IoTX,
"Dubai is already a global Smart City leader and the emirate can further drive innovation by localizing global best practices such as the smart and connected 2016 Rio de Janeiro Olympics, Barcelona's mobile tourism app and Buenos Aires' natural disaster management," said Khan. "SAP is committed to driving the public-private-academic partnerships that support the region's government-led Smart City innovation to help cities run better, enhance daily lives and upskill local talent."
In only its second year, IoTX has cemented its status as a strategic industry gathering for up to 10,000 public and private sector Information Communications Technology (ICT) professionals – comprising providers, vendors and buyers - to converge and explore software, hardware and infrastructure investments opportunities across the booming IoT ecosystem.
Encompassing a two-day conference spanning core IoT touchpoints including global digitization, wearables, security and risk, robotics, applications and the penetration of solutions and services across multiple industrial sectors, IoTX featured more than 20 expert-led sessions.
Speakers included Younus Al Nasser, Assistant Director General - Dubai Smart Government Office; Karine Dognin-Sauze, Deputy Mayor, Greater Lyon; Safder Nazir, Regional Vice President Smart Cities & IoT – Huawei; Jonny Voon, IoT Leader, Innovate UK; Dilip Rahulan, Executive Chairman & CEO - Pacific Controls; Rutger Reman, President of Industry & Society Unit - Ericsson Middle East, amongst others.
A core component of DWTC's Future Technology Week – a new umbrella identity collecting Gulf Information Security Expo & Conference (GISEC), The Big Data Show and GEMEC – IoTX includes a three-day exhibition ending on Thursday that has attracted a high-profile contingent of the world's leading technology companies including AdvanTech, BT, Cisco, Dark Matter, DELL, Ericsson, GE, Intel, Huawei, Microsoft, Pacific Controls and SAP and Future Technology Week runs until March 31 at DWTC.
Future Technology Week and its associated segmented exhibitions and conferences are strictly trade-only events open to business and trade visitors only. Visitor attendance to Future Technology Week exhibitions is free of charge but conference attendance is charged on either a single conference or ‘season pass' basis. — SG

Clic here to read the story from its source.