To estimate the potential economic impact of the Internet of Things across economies in 2025, we have sized applications in nine settings. We estimate impact by examining applications that exist today, are evolving, or are likely to have significant adoption in 2025. We measure both direct financial impact, such as potential savings from improved machine […]
HOW IOT APPLICATIONS CREATE VALUE IN DIFFERENT SETTINGS Read More »
Just how much will videoconferencing, telecommuting, or hybrid vehicles in the company fleet reduce the output of greenhouse gases? To what degree will a change in materials or methods affect other processes and the bottom line? How does one factor supply chain practices into one’s own carbon footprint? Which initiatives will have the best impact
OPTIMIZE people, processes, and technology to get faster results Read More »
By blending physical and digital realms, the Internet of Things (IoT) vastly expands the reach of information technology. The myriad possibilities that arise from the ability to monitor and control things in the physical world electronically have inspired a surge of innovation and enthusiasm. The sweeping changes that IoT can bring to how companies manage
THE INTERNET OF THINGS: MAPPING THE VALUE BEYOND THE HYPE Read More »
As in other technology markets, the end customer ultimately captures the most value, we find. Eventually, we estimate that customers (such as factory owners using machines guided by IoT technology, operators of transportation fleets, and consumers) will capture upwards of 90 percent of the value opportunities IoT applications generate. In many settings, customers will capture value
Users of IoT technologies will capture most of the potential value over time Read More »
The largest potential impact of self-driving cars is in time savings for drivers in urban areas, which we calculate in the city setting above. In the outside setting, we estimate the potential impact of autonomous cars and other autonomous vehicles such as trucks and buses outside of cities. The total economic potential from self-driving cars
Autonomous vehicles outside the city setting Read More »
Telecom providers. Today’s cellular phone networks are not well equipped to handle the demands of the Internet of Things. IoT applications will require not only a great deal of data capacity, but will also need it to be less expensive than current mobile voice or data service. Moreover, IoT devices need to work on low
RELATED MGI AND MCKINSEY RESEARCH Read More »
For companies to establish a market presence and maintain share over the long term, they will need to understand how their strategies and strengths fit within the three phases of the industry evolution. Across these three phases are at least four distinct bases of competition that can lead to disproportionately large value capture opportunities for
Bases of competition for IoT technology suppliers Read More »
IT organizations now better understand that their primary purpose is to provide the business with high-quality and reliable services at the cheapest possible cost. especially to those who work as a construction cost estimator.” IT also realizes that without the business, it would not even exist. And with outsourcing becoming more and more prevalent, IT
IT and business alignment Read More »
For households, businesses, and public-sector organizations of all types, the implications of managing energy, greenhouse gas emissions, and social responsibility are significant. First, there is the moral and regulatory imperative to operate in an environmentally responsible manner. Second, there are dramatic cost savings to be gained by reducing resource consumption and waste. And third, there
