If you're not already familiar with the Internet of Things, it won't be long until you are.
IT research firm Gartner says... revenue generated by hardware and service providers in the sector...
will top 3-hundred billion U.S. dollars in 2020.
But why look so far ahead?
Koreans have already started to integrate the concept into their daily lives... and
our Laah Hyun-kyung reports...
there's much more to come.
Connecting physical objects through the Internet,... and creating new information and business
models -- it is called the Internet of Things.
Here's an example.
Footage is recorded through numerous surveillance cameras on expressways... and data is collected...
but instead of simply having the two pieces of information relayed,... the Internet is
used to help connect the two, and provide authorities better control of the traffic
system.
And there will be many more examples to list in the future...
with the concept evolving into what's called the Internet of Everything.
"There will be massive improvements in efficiency.
For example, using energy usage to make the planet more green.
Also improvements in agriculture.
Making up food where we keep track of rainfall, appropriate fertilization to maximally use
our agricultural capacity given the climate change and everything else."
For that...
Internet connectivity and the availability of wireless and cellular networks is critical.
It does not hurt that Korea has a state-of-the art mobile network system.
"But even with advanced internet connectivity, there are still many more hurdles that not
only Korea but the global markets need to overcome before the concept becomes a full
part of our daily lives."
"The format in which data is sent to networks is not standardized.
People will feel the actual effects...
only if related businesses can agree on a standardized protocol... for developing technologies
and devices."
The Korean government plans to inject 50 million dollars into fostering the Internet of Things
market in 2014.
Although experts say it will take years, if not generations, for the Internet of Everything
to be fully commercialized globally...
they also agree that the market for the Internet of Things in Korea... is very close to being
realized.
Laah Hyun-kyung, Arirang News.