By VARINDIA    2017-03-09

Internet of Things (IoT) market forecasts show that IoT is already making an impact on the global economy. While estimates of the economic impact during the next five to ten years vary slightly (IDC estimates USD 1,7 trillion in 2020. Gartner sees a benefit of USD 2 trillion by that time, and McKinsey predicts growth of USD 4 trillion to USD 11 trillion by 2025), there seems to be a consensus that the impact of IoT technologies is substantial and growing. Although a significant impact already exists, Gartner notes that both IoT and the business models associated with it are immature at this point, hence the huge transformation that the economy – and maybe even society as a whole – will face from the Internet of Things is still to come...

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