Cisco CEO Pegs Internet of Things as $19 Trillion Market
John Chambers, chairman and chief executive officer of Cisco Systems Inc., delivers a keynote speech during a news conference at the 2014 Consumer Electronics Show (CES) in Las Vegas on Jan. 7, 2014. Close
Cisco Systems Inc. Chief Executive Officer John Chambers said that the Internet of Everything — connected products ranging from cars to household goods — could be a $19 trillion opportunity.
In a keynote presentation yesterday at the International Consumer Electronics Show that also featured comedian Sarah Silverman, Chambers drew a picture of a world in which objects in homes, at airports, at hotels and elsewhere that are connected to the Internet know peoples’ preferences. That could lead to consumers buying more goods, he said. Such connectivity will have other ripple effects, including linked garbage cans reducing waste management costs by 30 percent, Chambers said at the giant technology trade show in Las Vegas.
“This is not about technology at all,” Chambers said. “It’s about how it changes peoples’ lives forever.”
