As technology advances, consumers and investors should expect the "Internet of Everything" space to grow significantly in the near future, Qualcomm President Derek Aberle said Thursday.
"There's a projection that by 2019 there will be over 5 billion new connected devices shipped," Aberle said on CNBC's "Squawk Alley." "The Internet of Everything is a huge opportunity and there are a lot of companies approaching it in different ways. We think there is value to be had across the whole ecosystem."
The Internet of Everything refers to the online connectivity of everything from home appliances to smartphones to television sets.
Aberle said he believes his company can dominate the market. "The reason we think we can ultimately win here is because we've made large investments in technology for smartphones. It' really those technologies [like] connectivity and computing for low power that will drive the Internet of Everything."