The global internet of everything (IoE) market is estimated to register a CAGR of 15.2% during the forecast period of 2020-2030, according to a new market intelligence report.

Governments of most developed and developing countries are focusing on smart city projects to implement new technologies, which ensures optimal utilization of the available resources. The primary aim of these smart cities is to provide superior connectivity that ensure a healthy lifestyle by keeping pollution levels in check through sensors and alerts.

In 2019, spending on smart city initiative reached approximately $95 billion, which indirectly hints have investments in Internet of Everything (IoE).  As governments are investing and focusing on smart cities the adoption of technologies like Blockchain, smart sensors, Internet of Things (IoT), wireless communication, and 5G has increased. Deployment of these advanced technologies is expected to ensure improvements in terms of city orientation and solutions to many problems such as safety, energy utilization, traffic, pollution, and recreation.

Various kind of electronic equipment is used to build solutions for smart traffic, smart homes, smart security, and utilities. As a result, there is an increase in demand for connected devices such as smart meters, home gateways, smart appliances, sensors, smart plugs, IoT, and IOE.

Internet of Everything also plays an important role connecting people, things, data and processes in network of billions of automatic connections. These automatic connections will create a vast amount of data that can be analyzed and used for decision making and thus can have boundless applications in a smart city and beyond.

The ability to IoE to simplify complex business process and handle vast amount of data has also improved the scope of its application in healthcare, transport and logistics, and other industries.

Internet of Everything (IoE) Market: Key Takeaways

• During the forecast period healthcare segment is estimated to register a CAGR of 20.3%, leading the way for the market

• Mobile & wearable device segment to dominate in 2020 with a market share of 38.5% followed by smart cities and connected cars  
• Software segment is expected to be the key component of Internet of Everything by registering a growth of 17% Y-o-Y
• South Asia & Pacific internet of everything (IoE) market is expected to witness high growth rate with investment by governments for smart city projects and increasing penetration of smartphones

COVID-19 Impact Analysis on Internet of Everything (IoE) Market

The economy is facing an unprecedented impact due to COVID-19. However, it has tested the capabilities of technologies such as IoT, IoE, machine learning, artificial intelligence, and others as businesses have been swift in adopting them to deal with overnight lockdowns and remote working conditions.

Organizations rapidly adopting work from home policy have spent about 10-15% of their budgets in the Q1-2020 on workplace collaboration related technologies. Many manufacturing and retail companies are currently affected by production, shipping, and distribution delays due to pandemic, so in response companies are adopting digital twins to create digital representation of the end-to-end supply chain that helps customers to explore dynamic sourcing options.

The pandemic has fuelled a surge in IoT healthcare applications like telehealth consultation, remote monitoring, digital diagnostic, and robot assistance. The telehealth consultation has increased to 620 digital visits per day from 20 digital visit before COVID-19 pandemic. Before the pandemic, Asia Pacific region had only 7% of IoT solutions in healthcare sector, which has witness a growth by 5% in COVID-19 pandemic.

The growing awareness amongst people to avoid touching vulnerable surfaces such as light switches, door knobs, and other things, particularly after touching the parcels or packages, is expected to propel use of smart home devices like smart speakers, doorbells, security systems to open doors, switch on light, etc. This emerging trend is expected to increase the demand of smart home devices by approximately 40% through the forecast period.

“Key players are forming alliances with players that offer and deliver innovative and differentiated services in various industrial sectors. Thus, partnerships, collaborations, and acquisitions to enhance customer base and presence in the market is anticipated to be an emerging trend. Players are focusing on offering IoE cloud-based solutions that to maintain better security,” says Report Analyst.

Increasing Penetration of Smart Devices is Spurring Market Growth

Penetration of smart devices like smartphones, smart watches, smart appliances, and others is increasing in various sectors such as healthcare, transportation, retail, manufacturing, and others.

According to estimates, the number of internet-connected devices or smart devices will reach approximately 50 Bn in 2020. Due to increasing penetration of smart devices the demand for IoE will skyrocket as it assigns digital identifier to smart devices, providing users, a new way to connect, communicate, and share. Smart devices such as smartphones help form an intelligent network that can be accessed and controlled online under IoE.

The IoE describes an environment where smart devices can sense the environment through the use of sensors to detect the status, process data, retrieve useful information, measure the condition, connect over public or private networks using standard protocol, and communicate over the internet and control the behavior adaptively.

The penetration of smartphone is increasing as smartphones are used for monitoring and controlling the process of smart home products. This will allow users to control power usage of different appliances, smartphone capabilities, and sensors, which will play an important role in identification, tracking, and localization. The number of smartphones worldwide exceeded 2.8 billion in 2019, which highlights tremendous scope for IoE in the near future. 

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As we all know by now that the internet has become a huge pool of data of millions, nay, billions of users around the world. Amongst other tech giants like Facebook or Instagram, Google is one of the biggest data collectors of all time. Now, the Mountain View-based tech giant has released a new report showing the number of requests for user data from various government agencies.

Now, as the internet contains all kinds of information of users from almost every part of the world, these data are sometimes used by various government agencies. We have seen some mishaps happening with data mining, like in the Facebook-Cambridge Analytica case or the Clearview AI fiasco. So, to maintain transparency, Google released this report to show how many requests they get from the governments and how they handle the disclosure of the data.

Now, keep in mind, the below information is from one of the three parts of Google’s “Transparency Report“. The “global requests for user information” report shows the number of requests from many countries. However, if you’re looking for how many requests for user information enterprises have made to the company, there is the second section. And if you want to know about the number of requests related to the US National Security, there is the third one.

Now, coming to the “global requests for user information” report, Google categorized it into three sections — Requests by reporting period, percentage of requests where some information is disclosed, and diplomatic legal requests. 

Amongst these three sections, the lowest number of requests are in the “diplomatic legal requests” section. This is because diplomatic legal requests are made between governments of different countries under an official treaty. So, the chances of these requests are pretty low. As per the report, India has only 17 diplomatic legal requests under her name over the past 10 years.

Now, going back to the previous sections of the report, the “request by reporting period” section and the “percentage of requests where some information is disclosed” section, both contain interactive charts that show the information in an easy-to-read graphical format.

In the chart of the first section, you can filter the graph by choosing a specific country or show data of all the countries combined and the time period on which the requests are made.

In the second chart, however, you only have the “country” filter and no “time period” filter as it shows the percentage of requests of the countries.

Now, according to Google, when they receive requests like these from the governments, they “carefully review each request to make sure it satisfies applicable laws. If a request asks for too much information, [they] try to narrow it, and in some cases, [they] object to producing any information at all.”

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