The blog post is based on the keynote presented by Tyson Tuttle, CEO of Silicon Labs, at 2014 IIC CEO Summit in Shanghai under the title of “How the IoT Will Change Our World.” At the summit, Tyson introduced Silicon Labs’ broad portfolio of low power solutions for Internet of Things (IoT) applications and how IoT will impact embedded designers and consumer markets.
In the next few slides, I am going to talk in more detail about some of the ways that the Internet of Things is here today.
Smart energy was one of the first drivers of the Internet of Things. If we consider the smart energy field, for example, we now see wide deployment of smart meters for electricity, water, gas and heat resources.
A considerable amount of the global economy is related to energy and resource utilization. Approximately 2 trillion dollars is spent annually on electricity. By comparison, the entire semiconductor industry represents more than $300 billion (USD) this year.
The ability to reduce energy consumption through smart energy technologies can thus have a much greater impact on the global economy than the size of our semiconductor industry alone.
The Internet of Things is playing a key role in driving efficiencies in energy usage through monitoring and load balancing that will help both utilities and consumers significantly reduce energy consumption.
Continue to read the keynote: Internet of Things Keynote #6: The IoT Is Here Today: Smart Homes
Visit our Internet of Things page to learn more about our low power embedded solutions.