The terms “Internet of Everything” (IoE) and “Internet of Things” (IoT) are related but have slightly different meanings.
IoT refers to the growing network of physical objects that are connected to the internet and can collect and exchange data. These objects, known as “smart devices” or “smart objects,” can include things like smartphones, smart appliances, and wearable technology. IoT devices are typically controlled remotely, and they can be used to automate tasks and make our lives more convenient.
On the other hand, IoE refers to the idea that everything can be connected to the internet, not only physical objects but also people, processes, data, and things. It’s an extension of IoT, where everything is connected and can interact with each other. IoE goes beyond IoT, it adds more context and enables more precise decision making, by connecting the entire ecosystem, including people, data, processes, and things. This way, it enables new business models, new capabilities and new opportunities for innovation.
To put it simply, IoT is a subset of IoE. IoT is about connecting devices to the Internet, whereas IoE is about connecting people, data, and things to create new value. Both IoT and IoE have the ability to collect and analyze data, but IoE goes further by providing more context and enabling more precise decision making.