At the CES 2014, Cisco said Internet of Everything may generate $4.6 trillion in value for public sector organizations over the next decade.
IoE, the networked connection of people, process, data and things, can help governments create value by saving money, improving employee productivity, generating new revenue (without raising taxes) and enhancing citizen benefits.
There are live examples. Barcelona is utilizing IoE solutions to offer citizens new services and richer experiences. Barcelona is using video and collaboration technologies to allow citizens to interact with city hall without having to travel to local offices. Barcelona has implemented IoE solutions in water management, smart parking, waste management and connected buses, all of which are helping the city save money and improve the quality of service to citizens.
Cities globally have the potential to claim $1.9 trillion in value from IoE over the next decade, according to Cisco’s study.
Smart buildings are poised to generate $100 billion by lowering operating costs by reducing energy consumption through the integration of HVAC and other systems.
Gas monitoring could generate $69 billion by reducing meter-reading costs and increasing the accuracy of readings for citizens and municipal utility agencies.
Smart parking could create $41 billion by providing real-time visibility into the availability of parking spaces across a city. Residents can identify and reserve the closest available space, traffic wardens can identify non-compliant usage, and municipalities can introduce demand-based pricing.
Water management could generate $39 billion by connecting the household water meter over an IP network to provide remote information on use and status.
Road pricing could create $18 billion in new revenues by implementing automatic payments as vehicles enter busy zones of cities, improving traffic conditions and raising revenues.
State agencies have the potential to realize $682 billion in value by applying IoE solutions to processes like bridge maintenance, offender transport, chronic disease management, connected learning and wildfire suppression.
Non-defense federal agencies could capture $472 billion through IoE solutions to improve disaster response, fleet management, cybersecurity and many other areas.
Defense forces globally can improve the effectiveness of military missions through secure connection and information sharing among soldiers, bases, vehicles and battlefield assets. Improved connections among defense forces globally could generate $1.5 trillion in value and measurably enhance soldier safety.
With 350 million public employees in the world, IoE applications that improve employee productivity across state, local and non-defense federal agencies can generate significant value. For example, increased use of telework solutions could create an estimated $125 billion in value by lowering real-estate, printing and other costs. These same solutions improve employee retention and productivity, and provide additional employment opportunities.