Frost & Sullivan: Connected living has market potential of USD$731 billion by 2020 - KCTV5

Frost & Sullivan: Connected living has market potential of USD$731 billion by 2020

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SOURCE Frost & Sullivan

SYDNEY, May 19, 2014 /PRNewswire/ -- Connected Living is defined as a world where consumers use many different devices to experience services that integrate video, voice, and data services to provide access and ubiquitous connectivity anytime and anywhere.

Audrey William, Head of ICT Research ANZ, Frost & Sullivan says, "Cloud computing, big data, mobility and low cost sensors are driving the internet of things and connected industries, and the internet of things is forcing transformation and innovation across the connected home, workplace and city."

Connected home incorporates home automation; smart meters and smart thermostats, intelligent lighting, remote monitoring and control, home health ie., remote diagnostics and wearable health devices. Connected work encompasses mobility (Mobile email, enterprise mobile apps, people locator, bring your own device), communication (unified messaging, remote desktop access) and networking (web-based project collaboration tools, cloud-based file sharing services). Connected city comprises eGovernance, eCitizens, smart transportation cards, e-learning, mobile banking and digital classrooms, remote education services and digital libraries.

Frost & Sullivan forecasts the total connected living market to reach $731.70 billion by 2020. Connected city will contribute the largest percentage at 54%, equating to an estimated market potential of $392.94 billion, with smart governance and education services making up 50% of growth in this segment. Connected work will comprise 31%, contributing $228.44 billion. Connected home competes the remaining 15% at $111 billion.

The value chain of smart solutions to service all the components of connected living is extremely fragmented with no clear "one stop shop" solution provider providing end-to-end solutions. There are many players, ranging from module/component providers to device vendors to network and platform providers to system integrators. Within these groups are big name players such as Sendum, Gemalto, Apple, Samsung, Telefonica, AT & T, Cisco, SAP, Oracle, IBM and Accenture.

In Australia, Telstra and other telecom operators already offer bundled connectivity and entertainment services, while unified communications vendors like Microsoft Lync, Cisco, Mitel, Alcatel Lucent, Shoretel, Interactive Intelligence and Avaya enable the connected worker to experience seamless transitions from various applications to various devices every day.

While the ecosystem of players is complex, collectively, the market potential is huge and presents immense opportunities for telecom operators and ICT vendors.

The Rise in Connected Living and what it means for ICT podcast:



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