"The Internet of Things (IoT) is considered to be one of the enablers of the next industrial revolution. It is fuelled by the advancement of digital technologies, as well as dramatically changing how companies engage in business activities and people interact with their environment. The IoT's disruptive nature requires the assessment of the requirements for its future deployment across the digital value chain in various industries and many application areas.
The IoT is bridging the physical, digital, cyber and virtual worlds and requires sound information processing capabilities for the “digital shadows” of these real things. IoT applications are gradually moving from vertical, single purpose solutions to multi-purpose and collaborative applications interacting across industry verticals, organizations and people, which represent one of the essential paradigms of the digital economy. Many of those applications still have to be identified, while involvement of end users in this innovation is crucial.
IoT technologies are key enablers of the Digital Single Market (DSM), which will have a potentially significant impact on the creation of jobs and growth, along with providing opportunities for IoT stakeholders in deploying and commercializing IoT technologies and applications within European and global markets..."