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The Internet of Things: Seizing the Benefits and Addressing the Challenges

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Abstract

The Internet of Things represents the next step in convergence between ICTs and the economy on an unprecedented scale, with estimates indicating that 25 billion devices will be connected by 2020. Network connectivity, widespread sensor placement and sophisticated data analytics enable applications to aggregate and act on large amounts of data generated by devices in homes, work places and the natural world. This aggregated data can drive innovation, research and marketing, holding the promise to substantially contribute to further economic growth and social prosperity. However, the degree of adoption and ability to reap its benefits will largely depend on the capacity of governments to create adequate policy and regulatory frameworks in key areas including telecommunications, security, privacy and consumer policy. This report provides information on the opportunities and challenges around the Internet of Things and identifies areas for engagement and ease of deployment by all stakeholders.

Suggested Citation

  • Oecd, 2016. "The Internet of Things: Seizing the Benefits and Addressing the Challenges," OECD Digital Economy Papers 252, OECD Publishing.
    • Handle: RePEc:oec:stiaab:252-en
    DOI: 10.1787/5jlwvzz8td0n-en
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    Cited by:

    1. Espinoza, Héctor & Kling, Gerhard & McGroarty, Frank & O'Mahony, Mary & Ziouvelou, Xenia, 2020. "Estimating the impact of the Internet of Things on productivity in Europe," LSE Research Online Documents on Economics 116391, London School of Economics and Political Science, LSE Library.
    2. Subhashish Gupta & Kalpana Tyagi & Rajkumar Upadhyay, 2018. "Twilight of voice, dawn of data: the future of telecommunications in India," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 45(2), pages 161-183, June.
    3. A. V. Trachuk & N. V. Linder, 2018. "Fourth Industrial Revolution: How The Internet Of Things Influenceson Industrial Business Relationships?," Strategic decisions and risk management, Real Economy Publishing House, issue 3.
    4. Olbert, Marcel & Spengel, Christoph, 2019. "Taxation in the digital economy: Recent policy developments and the question of value creation," ZEW Discussion Papers 19-010, ZEW - Leibniz Centre for European Economic Research.
    5. Fukuda, Kayano, 2020. "Science, technology and innovation ecosystem transformation toward society 5.0," International Journal of Production Economics, Elsevier, vol. 220(C).
    6. Furszyfer Del Rio, Dylan D. & Sovacool, Benjamin K. & Bergman, Noam & Makuch, Karen E., 2020. "Critically reviewing smart home technology applications and business models in Europe," Energy Policy, Elsevier, vol. 144(C).

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