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.