Be it academia, technology visionaries or research analysts, all are in unison in acknowledging the potential of this industry that is going to rule the next centuries of businesses. So much so that this industry is capable of generating revenue of $11 trillion per year by 2015. Yes, we are talking about the world of internet of things or IoT and tech major Qualcomm understands it best.
Not long ago research firm McKinsey had estimated that the economic impact of IoT can range between $4 trillion a year to $11.1 trillion a year, or 11% of the world economy, in next 8 years. This value can be accrued in multiple of industry verticals including manufacturing, healthcare, smart cities that encompasses public safety, traffic management and resource planning, retail, transport, homes and offices.
The industry enabled by internet of things or IoT is going to connect everything making it internet of everything or IoE. The connectivity and its size can be judged by the the estimated devices that are going to beconnected to the internet in times to come. It is estimated that more than 20 billion devices, from a world having 6 billion people, are going to be hooked to internet by 2020.
This estimate can be verified by the recent announcement by Qualcomm that said the company is currently shipping more than 1 million chips per day for the IoT to meet challenging customer requirements for interoperability, connectivity, compute and security.
“We are focused on significantly expanding capabilities at the edge of the network by supporting everyday objects with the connectivity, compute and security technologies required to build a powerful Internet of Things, where devices are smart, convenient, work well together and incorporate advanced security features,” says Raj Talluri, senior vice president, product management, IoT, Qualcomm Technologies.
The San Diego based technology major’s chips are currently being used in IoT products in areas including wearables, voice and music, connected cameras, robotics and drones, home control and automation, home entertainment, and commercial and industrial IoT.
“While hundreds of brands have shipped over 1.5 billion IoT products using our solutions, we are just getting a glimpse of the benefits that the IoT can deliver, with analysts estimating that IoT applications could have a total economic impact of up to 11 trillion dollars a year by 2025. We have built strong capabilities on top of our leadership in mobile inventions, and we are innovating in exciting new areas such as deep learning, voice interface and LTE IoT that will power a new generation of IoT devices,” adds Talluri.
From the perspective of building the foundation of the IoT industry, Qualcomm has been leading this industry from the front. For example, its wearables platforms have been adopted in more than 150 wearable designs, and over 80% of Android Wear smartwatches launched or announced are based on Snapdragon Wear 2100 platform. In smart homes, more than 125 million TVs, home entertainment and other connected home products from leading brands have shipped using Qualcomm Technologies’ connectivity chips.
From an industrial IoT point of view, over 30 designs are using Qualcomm’s MDM9206 modem with multimode support for LTE categories M1 and NB1, E-GPRS and global RF bands.
The company perhaps offers one of the broadest portfolios of chips and platforms to address this wide variety of ecosystems, form factors and requirements in the IoT including mobile, multimedia, cellular, Wi-Fi and Bluetooth system-on-chips. Aprt from chips and platforms, Qualcomm also offers comprehensive software with platform-specific applications and APIs, as well as support for multiple communication protocols, operating systems and cloud services.
Besides the chips for various products, Qualcomm also has developed more than 25 IoT reference designs to assist manufacturers in developing IoT devices quickly and cost-effectively in the areas of voice-enabled home assistants, connected cameras, drones, VR headsets, lighting, appliances and, smart hubs and gateways.