https://ktn.innovateuk.org/web/2206770
Kickstarting the Internet of Things ecosystem : Opportunities, barriers, recommendations
The Internet of Things is now emerging as a brand that generally describes a world where things are embedded with sensors, processors or actuators that have the ability to communicate. Some analysts estimate that the added value services using the Internet of Things could reach as much as $200b/year and could deliver the next wave of growth of the Internet. Yet, despite progress in many areas, this potential is still largely untapped and often unproven. A large number of pilots have been funded that are small scale, incompatible and generally closed. And the case for public or private sectors investment in this type of infrastructure is still uncertain. What is required to change this situation and create the ecosystem that will enable this business?
The Internet of Things is now emerging as a brand that generally describes a world where things (e.g. objects, environments, vehicles, and clothing) are embedded with sensors, processors or actuators and with the ability to communicate, network, and produce information. Some analysts estimate that the added value services using the Internet of Things could reach as much as $200b/year and could deliver the next wave of growth of the Internet, with new business models, application and services in most sectors of the economy. Such demand could also spur innovation and growth in the value chain of components, devices, wireless connectivity, middleware, decision support tools, etc.
Yet, despite progress in many areas, this potential is still largely untapped and often unproven. A large number of pilots have been funded that are small scale, or single purpose, incompatible with other similar ones, and generally closed. And the case for public or private sectors investment in this type of infrastructure is still uncertain.
In mobile phones, industry looked for years for the killer application, whereas the killer application turned out to be the ecosystem of applications as exemplified by the rapid growth of the iPhone and Android platforms .
Is the Internet of Things suffering from the same issue? What would an ecosystem for the Internet of Things look like and what would its potential be? What will it offer to end users? And how could innovative businesses, large or small, and entrepreneurs drive it, or engage with it? Are there fundamental barriers that need to be overcome? What could be done to address them?
The ESP, DC and DS Knowledge Transfer Networks, with support from the Department for Business, Innovation & Skills, RCUK’s Digital Economy programme, and the UK Future Internet Strategy Group, are organizing, on behalf of the Technology Strategy Board, a consultation workshop to explore the opportunities of, and barriers to, an Internet of Things ecosystem of application and services.
This professionally facilitated workshop will bring together present and potential actors of the ecosystem and will explore, debate and make recommendations on these key issues. The output of the workshop will inform potential investments and initiatives by the Technology Strategy Board in this space.
A representative of the Technology Strategy board will also briefly outline how the forthcoming Digital Services for Growth competition for feasibility studies, which opens on January 10th 2011, relates to this challenge.
We are also inviting 3-5 businesses to give short presentations and their perspectives on business opportunities for the Internet of Things. If you are interested in presenting, please contact
nigel.rix@espktn.org with a brief abstract.
There will be no charge for this event but all attendees will be expected to take an active part in the discussions and provide information that will help shape the future Technology Strategy Board work in this area. Numbers will be limited to ensure effective and lively interchanges take place.
