The concept of “The Internet Of Everything,” the notion that all products, people, and services communicate for the sake of personalization and efficiency, is more than just the wave of the tech future. It could mean very big business. According to Cisco Systems, the concept is worth $14 trillion in revenue over the ten years.
And you thought your refrigerator and your dishwasher would never speak to each other.
Here’s a brief explanation of the concept. EVERYTHING is connected to the internet. Appliances, home systems like electricity and plumbing, transportation routes, cars, you name it. Everything, in this case, actually means everything.
So, for example, when you put bread in your toaster, your refrigerator knows to make the butter tray 20 degrees warmer so it’s easier to spread. Or when your car pulls into the garage, the lights are automatically turned on in your entryway. (Without, we hope, any sass.)
Some things that you can already buy easily (in fact, on Amazon!) include:
An Internet-connected power outlet so that you can turn on and off anything you want, from anywhere you want, whenever you want.
The Internet Of Everything represents the next stage of evolution for the internet — beyond the computer and into the world at large. It also represents a huge opportunity for manufacturers and marketers.
That’s where the aforementioned $14 trillion comes into play.
Because the internet will be connected to every person, product, service, and infrastructure, products won’t just be developed with connectivity. They’ll be developed in a manner that will tailor improvements and innovations to the ways consumers best enjoy making use of them.
Your car’s air conditioning system won’t just know it’s broken. It’ll call the repair shop. And call again when they don’t call back. All products will be intuitive. We’re already experiencing that.
But now, they will be able to communicate.
Be careful. When the Internet Of Everything arrives by 2020, who knows what your toothbrush will have to say to your trash compactor?