Internet of Things is set to digitize the world, with sensory technology in devices, feeding real time data to the internet. It is projected to have economic impact of $3.9 trillion to $11.1 trillion by 2025.
Such impact requires favorable groundwork, like interoperability between IoT systems and data generated must be used to its maximum. There is large potential in developing countries; customers will capture most benefits with users in businesses and other organization with remote monitoring in healthcare etc. The digitization of machines is a revolutionary idea, and even shows promise at this infant stage. Capturing full potential will require innovation and investment.To know more: http://www.mckinsey.com/insights/business_technology/the_internet_of_things_the_value_of_digitizing_the_physical_world