In 2015, the European Commission published a study (written by IDC) which provides an overview of Europe’s IoT digital ecosystem, its current status and anticipates a suggested vision of the same ecosystem in 2020. That study found:
The IoT (Internet of Things) is a pervasive innovative technology building on the universal connectivity of things and people, now moving in Europe from the pioneer phase to widespread adoption. In combination with cloud computing and Big Data the IoT is opening the new age of the hyper-connected society and acting as a powerful driver of business innovation, but also facing equally strong barriers in terms of security risks, concerns about privacy protection, and resistance to organizational change.”
According to the model developed by IDC for the EU study in 2015, the number of IoT connections within the EU28 will increase from approximately 1.8 billion in 2013 (the base year) to almost 6 billion in 2020 and IoT revenues in the EU28 will increase from more than €307 billion in 2013 to more than €1,181 billion in 2020, including hardware, software and services. Since 2015, the European Commission has undertaken a range of activities to both regulate and stimulate the IoT sector in Europe. Of course, IoT is a global phenomena, and with so many IT, big data and cloud service providers located in the US no discussion of IoT can ignore the US position.
If you want to find out more about how IoT issues are being addressed in both Europe and the US, please join us on Tuesday, April 18, 2017 from 5-6pm, London / 6-7pm Brussels time for a webinar that will address:
- Overview of EU security rules
- Securing the IoT
- Product liability and other potential claims in the US
- Health care reimbursement and fraud issues in the US
- Cyber liability insurance
Click here to register.