Business leaders and companies from around the world are uniting this October to discuss ways to make money from the Internet of Things (IoT) market.
The Monetising the Internet of Things event will include roundtables, presentations and workshops from IoT experts with the aim of improving productivity and cost savings for businesses.
IoT refers to appliances enabled with sensors and assigned their own IP address that connect to the Internet – thus creating a world where devices and machines can communicate with each other, interpret information and make intelligent decisions in real-time.
The event is expected to focus on how IoT can be used in different verticals and industries, the benefits of data generated by IoT and practical examples of successful implementations.
Specifically, companies can save more money, increase revenue and efficiency, and improve relationships with customers using IoT.
Gemma Fawcett, GM of Arena Conferences, said: "We are delighted to be launching this exciting event – our research has shown that companies want to take advantage of IoT but don’t necessarily know the best ways to go about it. In bringing our audience real life examples of successful initiatives and pilots, we believe these insights will help companies take the practical steps to profit from IoT."
It comes as the IoT market value is expected to grow from $1.9 trillion in 2013 to $7.1 trillion by 2020 as competition intensifies around smart analytics and applications, according to figures released by IDC in June.
Monetising the Internet of Things takes place in Frankfurt, October 1 and 2 2014.