Last month, Cisco announced new research that I find particularly exciting in my role of helping customers maximize value from their investments in collaboration, video, and mobility. “Internet of Everything: A $4.6 Trillion Public-Sector Opportunity,” the latest research and economic analysis by Cisco Consulting Services, calculates the value that the Internet of Everything (IoE) will create in the public sector worldwide from 2013 through 2022. According to Cisco, IoE will enable a global total of $19 trillion in Value at Stake over the coming decade — $4.6 trillion in public-sector value combined with the $14.4 trillion in private-sector value identified in related research last year.
IoE brings together people, process, data, and things to make networked connections more relevant and valuable than ever before. The civilian sector will drive $3.1 trillion of IoE’s value in the public sector, through increased revenue, reduced costs, and improvements to employee productivity and citizen experience. The remaining $1.5 trillion of IoE public sector Value at Stake will result from more effective military operations.
What excites me about this report is that 69 percent of the civilian public sector Value at Stake is powered by people-centric connections that can be enhanced by collaboration, video, and mobility technologies.
If there was a developing market opportunity that would bring you $19 trillion (with a “T”), you’d probably be interested, wouldn’t you. If that market’s impact on the world--not just the technology sphere--was going to have 5-10 times the impact ten years from now as it has been since the internet’s inception, you’d want to keep an eye on it.
What might surprise people would be some of the numbers Chambers threw around.
* Increasing retail revenue by $1.5 trillion with smart shopping carts and in-store integration--something it’s harder to do in online marketing, and something that could lead to a stronger in-store customer experience, thwarting the “showrooming” trend that is scaring bricks-and-mortar stores these days.
* Cutting nearly three-quarters of municipal electric bills (or nearly a third of government budgets) by using smart street lighting. * Decreasing traffic congestion by one third while improving revenues in a $41 billion niche with smart parking and traffic monitoring.
As we continue to explore and quantify the opportunities presented to our partners by the Internet of Everything (IoE), I’m excited to share that our latest research has identified $4.6 trillion of value in the public sector. That brings the total value “up for grabs” by our partners to an astounding $19 trillion by 2022 (the private sector will account for $14.4 trillion of the total opportunity). Read the IoE Public Sector Value at Stake White Paper and Top 10 Insights. Read More »
For the past 10 years, Cisco has had the unique privilege of sponsoring the Nobel Peace Prize Concert. This sponsorship has provided Cisco the additional opportunity to host global public sector leaders for a public services forum. I attended last month, where the theme of the forum was ‘Visioning Open Society’ and provided attendees the opportunity to meet with eighteen government and education leaders from Japan, South Korea, Bulgaria, the United States, Sweden and more.
Education is changing. All around the world schools, colleges and universities are seeking new approaches to teaching that overcome longstanding barriers to learning. Innovative education leaders are using new technologies to expand access to education, increase student engagement and improve student outcomes.
The Mooresville Graded School District, one of the lowest funded districts in North Carolina, implemented a district-wide digital conversion and now ranks 2nd in the state in overall student achievement. Similar results are being realized across the public sector as government and healthcare leaders also seek new approaches to citizen services and healthcare delivery.
At Cisco, we are working to make it easier for educators, government officials and health care professionals to “be there” -- to teach, to serve, to heal.