How is IoT expected to change our experiences in the near future? – Express Computer
The Internet of Things (IoT) has made waves in the past few years with the promise to transform data from connected objects into meaning that enrich our lives. IoT as a technology focuses on convenience, efficiency as well as enabling new business models and has a vast potential for consumers and businesses.
According to McKinsey, the impact could be as large as USD 11 trillion by 2025, which is equivalent to 11% of the world economy. We are also already witnessing IoT being applied to products and services by businesses to develop digital services and drive new growth. Customers are equally excited by the development and would like to see IoT to be used for smart home applications, smart healthcare solutions and smart automotive services.