Wire19 May 16, 2022
Amy Sarah John

The Internet of Things (IoT) is one of the most talked-about technologies today, and for good reason. While there are many possibilities for how IoT will be used, the opportunities are endless, and the possibilities are exciting. However, the IoT has been facing many challenges, including change management and cost in recent years. Change management, talent, cost, and cybersecurity are some issues, especially in enterprises that have hindered the scaling of IoT. A new research by McKinsey explores how the IoT economic value will increase in this decade. Some key findings are discussed here.

The potential value of IoT 

With the ever-growing potential of economic value that IoT has, reports estimate that it could unlock up to $5.5 trillion to $12.6 trillion value globally.  This...

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