How does connectivity affect the things we make?

By Concurrent Engineering Ltd
schedule19th Aug 14

There are approximately 7 billion people on Earth and approximately 33% of these people are connected to the Internet. But, did you know that since 2010, there are more things, more products that are connected to the Internet than there are people on Earth?

While we think of connected thing like smartphones and laptops, logic indicates that these cannot be the only things connected to the Internet. More and more, we find that everyday objects like fridges and thermostats are connected. And, because of this trend, it is estimated that by 2020 there will be 8 billion people on Earth and 50 billion connected things. 

Over the next decade, the growth in connected things is going to rapidly outstrip population growth.

So why should you care? In short, it offers the potential for manufacturers to offer and generate real value. In 2013 McKinsey published a report on the most disruptive technologies. Near the top of this list was Internet of Things and by 2025 the Internet of Things phenomenon will generate $6.2 trillion of global economic value add. Also in this report, Internet of Things is predicted to generate ten times the economic value of 3D printing.

Interestingly though, much of the world doesn’t yet appreciate the potential of Internet of Things. In truth, it isn’t really about the Internet. It’s about the Things and the way that these Things are changing as a direct result of connectivity– it’s where the real innovation is happening.  And manufacturers are the ones who will make this a reality, as you’re the ones who will design, manufacture and market these Things both now and in the future. 

Want to find out more about the trends impacting on the future of product development and manufacturing? Download the free eBook here:


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