Cisco is looking to connect 99% of the Internet of Things (IoT) market, which it believes is a "huge market and opportunity".
Chong Kyung-won, GM and VP of Cisco Korea, told Korea JoonGang Daily the networking firm’s next mission is to connect 99% of things that are unconnected to the Internet.
"We see there are 99% of things that are unconnected and the things that are connected to the Internet, such as people and equipment, is only 1%," he explained.
"Our mission and vision is to connect the 99%, for which there is a huge market and opportunity for us.
"Although many companies say they make convergences and provide total solutions through convergence, networks are the core to the solutions.
"Thus, Cisco is in the best position to connect the other 99% of the world."
He continued to say that biggest challenge in connecting 99% of the IoT lies in security.
"It is impossible to connect everything without ensuring security, as it is the most important component of IoE. Cisco will focus on investing in the security business," he said.
"Cyberattacks and hacks happen through networks because all data are transmitted through networks. Telecommunication enables security in both cable and wireless."
He also added that biggest surge in data will happen in the IoT, when the 99% of things are connected with the Internet.
"For instance, let’s say that we attach sensors on all the equipment of an airplane and collect and transmit the real-time data to let people know whether the plane is safely flying, as an example of the Internet of Things," he explained
"For one airplane to fly for 30 minutes and transmit the data, 1 terabyte is needed. There are countless airplanes flying every day, which means that the data generated by IoT or IoE would be tremendous.
"If equipment drove applications in the past, from now on applications will drive and pull networks or network equipment."
Last week, Cisco announced plans to cut as many 6,000 jobs, which is 8% of its global workforce, over the next 12 months.
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