Just when you thought the Internet of Things couldn’t possibly live up to its hype, along comes a blockbuster, 142-page report from McKinsey Global Institute (“The Internet of Things: Mapping the Value Beyond the Hype”) that says, if anything, we’re underestimating the potential economic impact of the Internet of Things. By 2025, says McKinsey, the potential economic impact of having “sensors and actuators connected by networks to computing systems” (McKinsey’s definition of the Internet of Things) could be more than $11 trillion annually.
According to McKinsey, there are six reasons we may be underhyping the Internet of Things.
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