Report Indicates $8 Trillion IoT Value At Stake

DHL & Cisco Tip the IoT

DHL and Cisco, last week, published a joint report claiming that the burgeoning Internet of Things (IoT) will lead to a $1.9tn boost to their respective industries.

Both companies are currently working together on a new IoT-driven operation for supply chains and warehouse operations. The companies believe such a new innovation would be a hefty boon to their businesses, according to the report.

Internet-of-Everything

DHL, part of the Deutsche Post DHL Group, and Cisco Consulting Services make the case of embedded sensors in warehouses, stock inventory, and delivery vehicles that create a constantly monitored system, which would, in theory, improve efficiency across the board.

The report was launched at the DHL Global Technology Conference in Dubai, UAE.

The number of connected devices globally is growing, anticipated to reach 50 billion by 2020, but remains surprisingly limited, says Ken Allen, CEO of DHL Express and Board Sponsor Technology, citing figures in their report.  “There is huge potential for countries to further increase their connectedness and prosper through trade, integration and technology,” says Allen. “We believe the Internet of Things will be a primary enabler of this global transformation.”

Cisco’s economic analysis claims that the Internet of Things will generate $8tn worldwide over the next ten years. This includes the $1.9tn figure on supply chains and logistics mentioned above. Other areas include revenue, enhanced customer experience, and improving employee productivity with the Internet of Things.

IOT-Value

Internet of Things sensors and automated technologies could be used in every step of the shipping and deliveries industries from tracking stored and moved shipments to smarter inventory management in warehouses.

Meanwhile in transportation, businesses could track the movement of goods and schedule maintenance more efficiently for faster deliveries for the customer, says the report. “This report clearly demonstrates that digitization and the IoT will deliver long term efficiencies and growth opportunities across a wide range of industries,” said Ciscos’ EMEAR president, Chris Dedicoat.

It won’t be easy by the looks of things though. Industries will need to fully understand every aspect of the value chain and how it can be improved for the most efficient results.

Investing in Internet of Things

Markus KückelhausFurthermore, businesses will need to be open to investing in the Internet of Things for the future and for long term business, according to vice president of innovation and trend research at DHL Customer Solutions & Innovation, Markus Kückelhaus (Seen in image).

To get the maximum global economic benefit, we’ll need to understand how all components in the value chain converge and this will require a comprehensive collaboration, participation and the willingness to invest to create a thriving IoT eco system for sustainable business processes. The new Trend Report is another step towards making sure DHL delivers the benefits of IoT to our customers” said Kückelhaus, DHL and Cisco’s report breaks the use of Internet of Things technology into two distinct parts – sense and sense making. Sense refers to the monitoring and tracking of assets while sense making is the separate field of wrapping your head around the massive amounts of data that will be produced.

The time is right to leverage this data, say the report’s authors, with the technology existing to make sense of the data. “Today, we see optimal conditions for IoT to take off in the industry,” they write. “There is a clear technology push through the rise of mobile computing, consumerization of IT, 5G networks, and big data analytics, as well as  a pull from customers who are increasingly demanding IoT-based solutions. Combined, these factors are enabling logistics providers to adopt IoT at an accelerating rate.”

The report goes on to state some practical examples of IoT technology in action in a number of different industries, namely Hamburg’s Port Authority in Germany. As Europe’s second busiest port, it deals with an immense number of shipments in and out every day.

Its IT system was expanded as part of its upgrade and over 300 sensors were placed around the port to monitor to and from traffic as well as check the integrity of bridges for any necessary maintenance. Meanwhile drivers can avail of mobile apps with details on the port like accessibility and parking.

Adopting a similarly proactive approach to Internet of Things technology in the supply chain and logistics could yield impressive results. This is the crux of DHL and Cisco’s report.

Similar reports and predictions have been made for the use of the IoT in other industries, such as manufacturing, and the IoT benefits to logistics have been tabled before in the past.

By Jonathan Keane

Gary Taylor

5 Reasons Why Virtual Desktop Infrastructure Will Go Mainstream Post 2020

Virtual Desktop Infrastructure Growth Virtual Desktop Infrastructure (VDI) technology enables remote users to access their desktop from anywhere using an internet connection. This technology has been around for a couple of decades but never received ...
Episode 11: Leveraging the Power of WordPress with the Toolkit – and a Global Community

Episode 11: Leveraging the Power of WordPress with the Toolkit – and a Global Community

A conversation with TJ Danklefs of cPanel and Angelo Giuffrida of VentraIP Australia WordPress is a significant player in the global webspace, and tools like the WordPress toolkit allow businesses of all sizes prepare, stage, ...
New York

From Y2K To NYC Parking Meters: Have We Learned Anything About Complacency In Cybersecurity?

Cybersecurity Complacency This past January – in what seems like a different world now – a story briefly hit the headlines and was seen as more of a quirk than a threat. It was soon ...
hybrid cloud management platforms

Do We Have A Right To Remote Work?

A Right To Remote Work? Remote work is the reason that most companies were able to survive during the pandemic. Whilst some of us may not enjoy working from home as it causes your work ...
Space

The Space Race Is Heating Up

The Space Race Is Heating Up For years the Space Race was the domain of countries and the national space programs. Namely Russia and America with China and India joining the game more recently. The ...

PROXY SERVICES

The CloudTweaks technology lists will include updated resources to leading services from around the globe. Examples include leading IT Monitoring Services, Bootcamps, VPNs, CDNs, Reseller Programs and much more...

  • Smartproxy

    Smartproxy

    Smartproxy is a rising star in the constantly growing proxy market. Smartproxy offers awarded customer service, impressive performance, and is serious about your anonymity (yes, cybersecurity matters). The latest features developed by Smartproxy are 30 minute long sticky sessions and Google Proxies. Rumor has it, the latter guarantee 100% success rate

  • Bright Data

    Bright Data

    Bright Data’s network is one of the most robust of its kind globally. Here are its stark advantages: Extremely stable connection for long sessions (99.99% uptime guaranteed). Free to integrate with our Proxy Manager which allows you to define custom rules for optimized results. Send unlimited concurrent requests increasing speed, cost-effectiveness, and overall efficiency.

  • Rsocks

    Rsocks

    RSocks team offers a huge amount of residential plans which were developed for plenty of tasks and, most importantly, has been proved to be quite efficient. Such variety has been created on purpose to let everyone choose a plan for a reasonable price, online, rotation and other parameters.

  • Storm Proxies

    Storm Proxies

    Storm Proxies' network is optimized for high performance and fast multi-threaded tools. You get unlimited bandwidth. No hidden costs, no limits on bandwidth. Try Storm Proxies 100% Risk Free. If you are not happy with the service email us within 24 hours of purchase and we will refund you.