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Scoop.it!
Forecasts for the future number of connected wearable devices continue to top each other, and the latest report continues that trend. Shipments of connected wearables reached 73 million this year, according to a new study by Berg Insight. But that’s nothing compared to what’s coming. By 2020, there will be 228 million connected wearables shipped, according to Berg.... 
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Scoop.it!
Some of the numbers associated with the Internet of Things are striking. They range from the millions to billions to trillions. Earlier this week, I aggregated many of the percentages around the IoT, as I wrote about here (The Internet of Things by the Percentages). While many of the percentages, especially around growth, are huge, they hardly compare to the sheer numbers, either by units or dollars. So here for your edification are some of the numbers around the Internet of Things, with the source of each...
Jeff Domansky's insight:
Chuck Martin shares some of the big numbers about the Internet of Things.
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While many have speculated positively on the value of the Internet of Things, a report from the McKinsey Global Institute projects an even more hopeful future for the catchall term for connected devices than previously predicted, especially in regards to local retail. The report covers the full extent of IoT’s potential, projecting anywhere from $3.9 to an astounding $11.1 trillion dollar global economic impact by 2025. Of that, roughly $410 billion to $1.2 trillion will impact the retail industry and how local businesses and services interact with their customers .Automated checkout systems alone could add up to $380 billion in potential value but combined with the many other retail uses of IoT, McKinsey believes the value could be anywhere from $410 billion to $1.2 trillion by 2025....
Jeff Domansky's insight:
Retail can't ignore Internet of Things, worth up to $1.2 trillion by 2025.
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For a business to tap into the potential of The Internet of Things is going to require some buy-in from those at the top. If a new study of one group of business leaders is any indication of the IoT state of adoption, some have a ways to go. It turns out that the majority of top execs in Canada are not even aware of The Internet of Things.Most (53%) executives said they are completely unaware of the Internet of Things and even more (72%) find it to be a confusing concept....
Jeff Domansky's insight:
Huh? I find this research hard to believe.
Scoop.it!
The digitization of the physical world around us, dubbed the Internet of Things (IoT), is transforming how we do business and how we live our day-to-day lives. But when it comes to what consumers think about the IoT, there’s not much more important to them than their privacy, and that’s an important consideration for managed service providers (MSPs) as they think about how the IoT impacts the customers they serve. A recent report from the Altimeter Group bears this out. The Consumer Perceptions of Privacy in the Internet of Things report questioned 2,062 American consumers about their perceptions of privacy issues around the IoT. The results should be eye-opening to MSPs, as they illustrate just how wide the chasm is between what consumers actually know about the IoT in general (which isn’t much), as well as their deep concerns about trust, privacy, and the security of their data. For an MSP, this is valuable information, as it provides more proof that being able to promote top-notch privacy and security as one of its offerings will continue to be a game changer when it comes to having a competitive advantage in the marketplace....
Jeff Domansky's insight:
However smart connected devices may be, consumers may not accept them unless they know how their data is used and can control how and when it’s collected.
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Beacons are primarily for customer interactions in one way or another while RFID tags typically are used to track products and affect pricing based on inventory and online pricing. Leading retailers using the IoT are poised to gain a market advantage as they generate an ecosystem for IoT connections and interactions, according to Juniper. Combining IoT revenue and cost savings, Juniper estimates the IoT opportunity to reach $300 billion by 2020. The overall number of IoT devices installed is projected to increase from 13 billion devices this year to 39 billion within five years....
Jeff Domansky's insight:
Chuck Martin writes that while not all retailers have bought into the idea of implementing Internet of Things technologies, it appears that some of those who have plan to invest pretty heavily.
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228 million wearables will ship; 13% of households will own a consumer robot. That's big business!