This article was originally published in April 2022 by Forbes. Reprinted with permission of the publisher.
IoT And Where It’s Going
By Bill Geary | June 7, 2022
Read Time: 1 Minutes
In its simplest form, the Internet of Things (IoT) is about connected devices. For leaders, the goal is to gain insights from those devices to enable better business decisions. According to McKinsey, the Internet of Things could create $5.5 trillion to $12.6 trillion in global economic value by 2030. While it can help organizations capture value, there are challenges in capturing the true value of implementing IoT.
With hundreds of thousands of applications, IoT use cases and tailored solutions can be difficult for organizations to define on their own. Beecham Research found that nearly three-fourths of IoT projects fail in the proof-of-concept phase. So what does the future of IoT look like? From my perspective, it centers around outcomes.
ABOUT THE AUTHOR
Bill became Wesco's Executive Vice President and General Manager – Communications & Security Solutions in July 2020, following Anixter’s merger with Wesco. Prior to this, he served as executive vice president of the Network & Security Solutions segment for Anixter since July 2017.