Speaking at the Cisco Partner Summit, the outfit’s vice president for Industry Solutions Group, Steve Steinhilber, said that the IoT market will be worth $19 billion by 2020 – $14.4 billion of which will come from the private sector, and $4.6 billion from the public sector.
He claimed partners were getting a 40 percent annual boost to their Cisco businesses through selling IoT kit, but said the skills gap is a pressing concern.
He said that for Cisco and its partners this is a genuinely new available market. But one of the big gaps in the next three to five years is a tremendous shortfall in skills.
“You have people coming from the operational technology space and people coming from the IT space so you need training on how these worlds are going to merge. For Cisco, just in the industrial [vertical market], we see a shortage of 300,000 people with the right skills across the globe.”
In the past nine months, Cisco has trained 38 partners globally as IoT Specialised partners, and another 94 are currently going through the process, Steinhilber said, adding that this should start to fill the gap.
“We’ve begun rolling out a series of programmes,” he said. “Over the next 12 months you will see a serious of other unique training courses focused on industry-vertical skills.”