The IoT: Security and integration are key to success – KMWorld Magazine
The Internet of Things (IoT) is poised to have an impact on the amount of data being collected that is difficult to put into perspective. According to Gartner, the number of devices will grow from 8.4 billion in 2017 to 19.4 billion in 2020. McKinsey predicts that the worldwide market will range from $3.9 trillion to $11 trillion by 2025. Among the markets expected to lead in the use of IoT are factories, smart cities and healthcare. If the high end of the range is reached, IoT-related business would account for 11 percent of the global economy.
As significant as the numbers are, the impact on how organizations and society in general operate will be even more dramatic, bringing new business models and new ways of serving customers. Along with those opportunities are additional obstacles, however, including the need to maintain security for the pervasive technologies and to integrate the information so it provides meaningful knowledge.