In his speech at Computex Taipei, Francois Guibert, Executive Vice President and President of ST’s Greater China and South Asia Region observed that the Internet of Things (IoT) is widely accepted as the next ‘Big Thing’. In fact, its power is in its promise to exploit the Internet with a multitude of applications and products, particularly wireless and mobile, penetrating a broad spectrum of markets.
In many ways, the IoT is the hardware counterpart to the software app market and is unleashing a new wave of creativity in many different segments. ST envisages that anyone, from entrepreneurs to companies, can leverage the existing Internet infrastructure to conceive new applications and markets and create new business opportunities.
According to Gartner, the IoT market, which excludes PCs, tablets, and smartphones, will grow to 26 billion units installed in 2020, representing an almost 30-fold increase from 0.9 billion in 2009. Gartner predicts IoT product and service suppliers will generate incremental revenue exceeding $300 billion, mostly in services by that time, resulting in $1.9 trillion in global economic value-add through sales into diverse end markets.
Francois Guibert says ST is committed to playing a key role in enabling the Internet of Things including its important role in tackling today’s societal challenges. As a global market leader in MEMS and sensors, ARM Cortex-based microcontrollers, smart power, and automotive technologies, STMicroelectronics sees the IoT as the next step in the natural progression of smart features in electronic devices, and is ready for the next wave of IoT with an even richer portfolio of products and technologies that include integrated smart systems with multiple sensors, processing, and communication technologies.
Mr Guibert shared ST’s vision for IoT, describing how to ‘augment’ everyday objects such as watches, bracelets and eyewear to make them smart and connected. He also described the required building blocks to create these ‘augmented things’. He touched on the IoT going forward where new concepts such as Smart City, Smart Car, Smart Home, Smart Me Healthcare and Smart Me Fitness & Wellness will become realities.
ST’s portfolio of smart sensors, embedded processing, connectivity, analogue and power solutions as well as their broad ecosystem makes it possible to develop these new applications that connect to the internet.