Preparing for the Internet of Things

According to a recent McKinsey Global Institute report, the networking efficiencies and opportunities created by the Internet of Things may have a global economic impact of as much as $11 trillion per year by 2025 across multiple sectors. The report also suggests that, although consumer applications seem to be on the leading edge of adoption, nearly 70 percent of the projected economic value will eventually come from the use of sensor technology and swarm intelligence among B2B users. To accommodate the development and support of smart devices, companies will need to update existing IT architectures and operating models.