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New research shows that the IoT offers significant economic value potential through 2030, but companies must achieve scale to capture it.
In 2015, the McKinsey Global Institute published a research report entitled The Internet of Things: Mapping the value beyond the hype. The report analyzed the economic potential that the IoT could unleash through consideration of hundreds of use cases in the physical settings in which they could be deployed.
Six years later, in a new report, The Internet of Things: Catching up to an accelerating opportunity, we have updated the analysis to estimate how much of that value has been captured, how the potential value of the IoT could evolve in the coming decade, and the factors that explain both (see sidebar, “Defining the Internet of Things”).
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