Skip to main content

Connected Living Market to Reach $731 Billion by 2020

Massive technology-led disruption across all industries is moving everyone globally towards an Internet of Everything -- where into the 2020's, tens of millions of people will be connected by trillions of digital things and software applications.

This evolution started in the 1970's that had specialized activities driven by proprietary equipment and mainframes, then increased productivity in the 1990's propelled by the advent of PC's and the internet, followed by bursts of disruption and innovation in 2010 onward -- through open-source cloud and mobility.

Connected Living, according to the latest market study by Frost & Sullivan, is defined as a world in which people use many different devices to experience compelling new services that integrate video, voice, and data services to provide access and ubiquitous connectivity anytime and anywhere.

"Mobility and cloud computing are two pillars of growth that has brought about significant changes in the ICT industry. Cloud computing, big data, mobility and low-cost sensors are driving the Internet of Things and connected industries, and the IoT is forcing transformation and innovation across the connected home, connected workplace and connected city," said Audrey William, head of research at Frost & Sullivan.

Connected home incorporates home automation; smart meters and smart thermostats, intelligent lighting, remote monitoring and control as well as home health -- such as remote diagnostics and wearable health devices.

Connected work encompasses mobility (Mobile email, enterprise mobile apps, people locator, bring your own device), communication (unified messaging, remote desktop access) and networking (web-based project collaboration tools, cloud-based file sharing services).

Connected city comprises eGovernance, eCitizens, smart transportation cards, e-learning, mobile banking and digital classrooms, remote education services as well as digital libraries.

Frost & Sullivan forecasts the total connected living market to reach $731.70 billion by 2020 as the importance of the internet and digital solutions grows in the overall economy.

Connected city will contribute the largest percentage at 54 percent, equating to an estimated market potential of $392.94 billion, with smart governance and education services making up 50 percent of growth in this segment.Connected work will comprise 31 percent, contributing $228.44 billion. Connected home competes the remaining 15 percent at $111 billion.

Frost & Sullivan predicts that by 2025, the rise of connected living will see 3.7 billion smartphones, 700 million tablets, 520 million wearable health-related devices and 410 million smart appliances in the connected person world. The connected worker world will see 90 million IP Telephones, 400 million laptops and over 60 million unified communication platforms.

Frost & Sullivan expects that nearly 80 percent of US enterprises will adopt BYOD, 30 percent of populations will access office networks remotely, and 90 percent of organisations will offer mobility to workers.

Meanwhile, the connected citizen will have access to 15 million interactive kiosks enabled by 25 million cloud servers servicing around 1 billion smart government and ID cards. Around 500 million smart transportation cards and 50 million contact-less payment cards will be issued and an estimated 35 billion subscribed location based services (LBS) devices by 2020.

The value chain of smart solutions to service all the components of connected living is extremely fragmented, currently with no provider offering end-to-end solutions. While the ecosystem of players is complex, there is no denying that collectively, the market potential is huge and presents immense opportunities for the telecom network operators and ICT vendors.

Popular posts from this blog

Industrial Cloud Computing Apps Gain Momentum

In the manufacturing industry, cloud computing can help leaders improve their production efficiency by providing them with real-time data about their operations. This has gained the attention of the C-suite. Total forecast Industrial Cloud platform revenue in manufacturing will surpass $300 billion by 2033 with a CAGR of 22.57 percent, driven by solution providers enhancing platform interoperability while expanding partner ecosystems for application development. ABI Research found the cloud computing manufacturing market will grow over the next decade due to the adoption of new architectural frameworks that enhance data extraction and interoperability for manufacturers looking to maximize utility from their data. Industrial Cloud Computing Market Development "Historically, manufacturers have built out their infrastructure to include expensive data housing in the form of on-premises servers. The large initial upfront cost of purchasing, setting up, and maintaining these servers is

Demand for Quantum Computing as a Service

The enterprise demand for quantum computing is still in its early stages, growing slowly. As the technology becomes more usable, we may see demand evolve beyond scientific applications. The global quantum computing market is forecast to grow from $1.1 billion in 2022 to $7.6 billion in 2027, according to the latest worldwide market study by International Data Corporation (IDC). That's a five-year compound annual growth rate (CAGR) of 48.1 percent. The forecast includes base Quantum Computing as a Service, as well as enabling and adjacent Quantum Computing as a Service. However, this updated forecast is considerably lower than IDC's previous quantum computing forecast, which was published in 2021, due to lower demand globally. Quantum Computing Market Development In the interim, customer spend for quantum computing has been negatively impacted by several factors, including: slower than expected advances in quantum hardware development, which have delayed potential return on inve

Contact Center as a Service Gains AI Benefits

Enterprise leaders with large customer care organizations are exploring Artificial Intelligence (AI) applications to improve their online customer experience, increase operational efficiency, and reduce costs to improve profitability. Trained AI can be used to automate tasks, such as answering routine questions, freeing up contact center agents to focus on more complex inquiries. AI can also be applied to personalize the customer experience by recommending new offerings. Additionally, AI can be deployed to analyze vast amounts of existing customer data to identify support trends and patterns, which can be used to improve the overall customer experience. Customer Care AI Market Development Worldwide Contact Center (CC) and Conversational AI, including virtual assistant end-user spending is projected to total $18.6 billion in 2023 -- that's an increase of 16.2 percent from 2022, according to the latest market study by Gartner. "Near-term investment growth rates for CC and CC Con