IOT: Powering the digital economy

Telecoms giant Vodafone makes push into internet of things consumer market

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Vodafone has launched a new system that it says will allow consumers to connect "millions of home and leisure electronics products" to its dedicated global internet of things network.

In an announcement Tuesday, the business said its "V by Vodafone" system was made up of, among other things, an internet of things sim card and a smartphone app.

The sim card will be sent out with internet of things-enabled products sold by Vodafone, while the app will give customers an overview of all the internet of things-enabled products registered to their account.

Launch products include a location and activity tracker for pets, which allows owners to track their dogs and cats using GPS and the mobile network. Owners will get an alert on their smartphone if their pet moves away from a designated area, and will be able to monitor their animal's sleeping patterns and movements.

The European Commission describes the internet of things as merging "physical and virtual worlds, creating smart environments." According to analysis from the McKinsey Global Institute, the potential economic impact of the internet of things in 2025, including consumer surplus, could be anything between $3.9 trillion and $11.1 trillion.

"The internet of things is already beginning to transform how businesses operate," Vittorio Colao, chief executive of the Vodafone Group, said in a statement Tuesday. "Over the next decade, the expansion of internet of things into consumer markets will bring about an equally dramatic shift in how people manage their daily lives, at home and in their leisure time."

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