Internet Of Things (IOT)
A recent study by the McKinsey
Global Institute forecasts that the Internet of Things (IoT) will
create economic benefits between $4 to $11 trillion by the year 2025. This
includes profits to device-makers, efficiency, new businesses and savings to
consumers from better-run products. The report suggests that the economic
opportunity created by IoT has been hardly utilized and most people who are
working in the space of IoT are still in the early
phase. McKinsey’s central finding is that the hype may actually
understate the full potential but that capturing it will require an
understanding of where real value can be created and a successful effort to
address a set of system issues, including interoperability.
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