Executive Briefings

You Mean All the Hoopla Over the Internet of Things Actually Underestimates Its Impact on Retail?

Could it be that the Internet of Things is actually under-hyped? Yes - it could have a total economic impact between $3.9tr and $11tr a year by 2025, including $410bn to $1.2tr per year in retail environments.

You Mean All the Hoopla Over the Internet of Things Actually Underestimates Its Impact on Retail?

While the IoT has garnered oceans of digital ink in the last five years for its vast and varied potential, it is worth all the attention and may be due more, according to a recent McKinsey Global Institute report, "The Internet of Things: Mapping the Value Beyond the Hype." And while the consumer market for interconnected devices will be large, the business-to-business market may represent 70 percent of the IoT value.

"Our central finding is that the hype may actually understate the full potential of the Internet of Things - but that capturing the maximum benefits will require an understanding of where real value can be created and successfully addressing a set of systems issues, including interoperability," the study stated.

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While the IoT has garnered oceans of digital ink in the last five years for its vast and varied potential, it is worth all the attention and may be due more, according to a recent McKinsey Global Institute report, "The Internet of Things: Mapping the Value Beyond the Hype." And while the consumer market for interconnected devices will be large, the business-to-business market may represent 70 percent of the IoT value.

"Our central finding is that the hype may actually understate the full potential of the Internet of Things - but that capturing the maximum benefits will require an understanding of where real value can be created and successfully addressing a set of systems issues, including interoperability," the study stated.

Read Full Article

You Mean All the Hoopla Over the Internet of Things Actually Underestimates Its Impact on Retail?