NEW YORK (TheStreet) -- When Cisco (CSCO) executive Joseph Bradley sees a problem, be it in retail, manufacturing, the public sector, or financial services, his first question is, "What is the dark asset?" In other words, what can be connected to the Internet.
On Wednesday morning, Bradley, the vice president of the Internet of Everything Practice at Cisco, spoke at Internet Week New York about the vast opportunities on getting everything connected to the Internet and how companies can leverage these opportunities to solve their own problems by making sure to focus on the consumer connection.
"Internet of Everything is great, but unfortunately just connecting things isn't enough," Bradley said. "What we found when we started thinking about this was value is not found in simply connecting a thing, but value is found in a connection itself, and we define a connection as having four elements: people, process, data, and things."
Whether you call it the "Internet of Things," the "Internet of Everything," or just "Connected Devices," this industry is here to stay. Just consider the fact that connected devices outnumber the world's population by 1.5 to 1, according to Cisco. This ubiquity is translating to a huge business opportunity. Cisco estimates the market of connected devices to reach $19 trillion by 2022 -- $14.4 trillion in the private sector and $4.6 trillion in the public sector.