For example, connected home incorporates home automation; smart meters and smart thermostats, intelligent lighting, remote monitoring and control, and home health via remote diagnostics and wearable health devices. Connected work encompasses mobility such as enterprise mobile apps, communication via remote desktop access, and networking such as web-based project collaboration tools or cloud-based file sharing services. Connected city comprises smart transportation cards, remote education services, and digital libraries.
Audrey William, Frost & Sullivan’s head of ICT research for Australia and New Zealand says, “Cloud computing, big data, mobility and low cost sensors are driving the internet of things and connected industries, and the internet of things is forcing transformation and innovation across the connected home, workplace and city.”
According to Frost & Sullivan, “The total connected living market to reach $731.70 billion by 2020. Connected city will contribute the largest percentage at 54%, equating to an estimated market potential of $392.94 billion, with smart governance and education services making up 50% of growth in this segment. Connected work will comprise 31%, contributing $228.44 billion. Connected home competes the remaining 15% at $111 billion.”
The company also noted: “The value chain of smart solutions to service all the components of connected living is extremely fragmented with no clear one-stop-shop” solution provider providing end-to-end solutions. While the ecosystem of players is complex, collectively, the market potential is huge and presents immense opportunities for telecom operators and ICT vendors. ”