Technology

ICT Supporting the Smart Economy: The Case of Ireland

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This case study examines the contribution of information and communication technologies (ICT) to national economic development in the context of Ireland’s National Knowledge Society Strategy. It charts the evolution of the national industrial development strategy from early-stage, low value-added manufacturing to higher value-added innovation-driven approach and identifies essential steps relating to public investment in education …

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Interoperability is a critical source of value in IoT systems

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One of the central findings from our sizing exercise is the importance of interoperability in generating maximum value from IoT applications. We estimate that situations in which two or more IoT systems must work together can account for about 40 percent of the total value that can be unlocked by the Internet of Things.8 In our …

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HOW IOT APPLICATIONS CREATE VALUE IN DIFFERENT SETTINGS

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To estimate the potential economic impact of the Internet of Things across economies in 2025, we have sized applications in nine settings. We estimate impact by examining applications that exist today, are evolving, or are likely to have significant adoption in 2025. We measure both direct financial impact, such as potential savings from improved machine …

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OPTIMIZE people, processes, and technology to get faster results

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Just how much will videoconferencing, telecommuting, or hybrid vehicles in the company fleet reduce the output of greenhouse gases? To what degree will a change in materials or methods affect other processes and the bottom line? How does one factor supply chain practices into one’s own carbon footprint? Which initiatives will have the best impact …

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THE INTERNET OF THINGS: MAPPING THE VALUE BEYOND THE HYPE

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By blending physical and digital realms, the Internet of Things (IoT) vastly expands the reach of information technology. The myriad possibilities that arise from the ability to monitor and control things in the physical world electronically have inspired a surge of innovation and enthusiasm. The sweeping changes that IoT can bring to how companies manage …

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Users of IoT technologies will capture most of the potential value over time

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As in other technology markets, the end customer ultimately captures the most value, we find. Eventually, we estimate that customers (such as factory owners using machines guided by IoT technology, operators of transportation fleets, and consumers) will capture upwards of 90 percent of the value opportunities IoT applications generate. In many settings, customers will capture value …

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Autonomous vehicles outside the city setting

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The largest potential impact of self-driving cars is in time savings for drivers in urban areas, which we calculate in the city setting above. In the outside setting, we estimate the potential impact of autonomous cars and other autonomous vehicles such as trucks and buses outside of cities. The total economic potential from self-driving cars …

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Bases of competition for IoT technology suppliers

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For companies to establish a market presence and maintain share over the long term, they will need to understand how their strategies and strengths fit within the three phases of the industry evolution. Across these three phases are at least four distinct bases of competition that can lead to disproportionately large value capture opportunities for …

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