Cisco this week provided a bit more detail into the Internet of Things group it announced in June, and in the initiative overall. Cisco's IoT effort will have an initial focus on security, sensors, real-time analytics and applications, with Cisco specifically developing the connectivity infrastructure between sensors and applications.
The total available market for IoT sensors, connectivity and applications is expected to be $80 billion by 2016, Cisco says, growing at 36% compounded annually. Cisco's piece specifically is $27 billion, growing at 42% CAGR.
The IoT initiative will develop vertical business solutions to connect previously unconnected sensors, devices and other "things" into an Internet of Things. Target verticals include discrete manufacturing, oil and gas, mining, defense, transportation, smart cities, sports & entertainment, energy, and machine-to-machine operations for service providers.
Cisco's entire Internet of Things initiative is comprised of a cross-functional internal team led by Maciej Kranz, vice president of the Corporate Technology Group within the office of the Chief Technology and Strategy Officer. The team will aggregate company-wide efforts, including venture investments focused on the IoT ecosystem and intended to catalyze startups and entrepreneurs.
The Internet of Things Group, meanwhile, has named Cisco Vice President Guido Jouret as its general manager. As reported in June, the group is headed by Rob Soderbery, senior vice president and general manager of Cisco's Enterprise Networks business, and Wim Elfrink, Cisco's chief globalization officer and executive vice president of Industry Solutions.
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