Google is starting to make John Chambers' case. Chambers, Cisco's CEO, valued the so-called Internet of Things (IoT) in his 2014 International CES keynote last week at $19.1 trillion.
Less than a week later, Google buys Nest, the digital thermostat and smoke-detector maker, for $3.2 billion. Sure, there's a few trillion here and there to go. But what's that?
Welcome to the largest Internet of Things purchase to date.
"It's interesting to see just how quickly this will happen," Scott Strawn, International Data Corporation (IDC) senior analyst, told CMSWire about the growth of the IoT. "Google's acquisition of Nest will hasten the pace of the innovation."