THE NETWORKING OF THINGS
According to independent studies, about five billion smartphones will be in use worldwide by 2020. In addition, some further 150 billion connected “things“ (Internet of Things, or IoT), so called cyber-physical systems which operate actively or passively on the internet and fulfill different functions autonomously or semi-autonomously, are also expected to be utilized.
Such development leads to an enormously rapid increase of information, enabling all active participants to have an exponentially growing advance in knowledge.
Today’s industry is facing the challenge of effective and quick usage of a rapidly growing knowledge base. Therefore, increased effort is needed to unleash this potential.
Industrial companies that shy away from this expense are likely to face a drastically difficult market competition in the future.