Can the Internet of things revive the old Europe?

Drapeaux-Européen1,000 billion euros, that is what will be the impact of the Internet of objects on the 28 countries of the European Union according to AT Kearney. For these analysts, the market of the IoT solutions themselves will represent 80 billion euros but connected objects will have an impact that goes far beyond. This total of 1.000 billion euros, productivity gains are expected to be 430 billion euros, energy savings and better maintenance 300 billion, the time savings and better health of Europeans 210 billion more. Europe is well positioned facing the challenges of the IoT, but it will have to face a few gaps.

The IoT will have a strong impact on transport, the world of health and housing

IoT-GDP-impact-by-sectorTo explain these staggering figures, analysts of A.T. Kearney have estimated the impact of the IoT on 6 vertical segments and not less than 40 applications. With 245 billion euros expected, the transport segment is one that will benefit the most objects connected. It will benefit from the Internet of objects by reducing the number of accidents, car sharing, platforms of taxi and VTC, autonomous cars, a better management of public transport, the reduction of traffic jams, etc. The health sector follows, with 235 billion euros, then housing and hospitality.

The market of the 80 billion euros of the Internet of objects will be divided between 10 billion dedicated to the electronic components, 15 billion for M2M networks, 15 other billion for Cloud services, 1 billion software and modules, 22 billion for the integration of systems and finally 18 billion for services and the aggregation of the platforms.IoT-solutions-marketAnalysts have not sought to assess the market of connected objects themselves, a market to the very uncertain contours.

Facing this challenge, analysts of A.T. Kearney estimate rather well placed Europe, before even the United States if its companies can well negotiate the turn. In addition, they emphasize certain weaknesses, particularly in the field of components, software. Gaps that the industry is going to have level if Europe wants to be eligible to win this jackpot of 1,000 billion euros of the Internet of things.

Translation : Bing Translator

Source : “The Internet of Things: A New Path to European Prosperity”, AT Kearney report, January 7, 2016

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