Internet of Things Projected To Generate Up To $12.6 Trillion By 2030 (axios.com) 31
From smart home devices to sensor-laden factories, the Internet of Things (IoT) is poised to generate trillions of dollars in value by the end of the decade, according to a new report from the McKinsey Global Institute (MGI). Axios reports: MGI estimates by 2030 the IoT could enable between $5.5 trillion and $12.6 trillion in value globally. About 65% of that value is projected to be created in business applications, like smart factories or offices, rather than consumer applications like internet-connected robot vacuums. The IoT economy is predicted to lean toward developing countries -- which benefit from being able to build smart facilities from the ground up rather than retrofitting -- and China in particular, which MGI expects will generate more than a quarter of all IoT value by 2030.
It's far from certain all of this economic value will be realized. [...] Whether the many companies contributing to the sector agree on interoperability standards that would make the physical IoT more like the digital, highly interoperable internet. Up to three-quarters of the high-end estimates for future IoT value depend on establishing interoperability, Chui notes, while cybersecurity concerns will remain a lingering headwind.
It's far from certain all of this economic value will be realized. [...] Whether the many companies contributing to the sector agree on interoperability standards that would make the physical IoT more like the digital, highly interoperable internet. Up to three-quarters of the high-end estimates for future IoT value depend on establishing interoperability, Chui notes, while cybersecurity concerns will remain a lingering headwind.
Awesome (Score:3)
I cannot wait for my Alexa enabled, WiFi having, 8K UHD toaster with its robotic arm.
Re: (Score:2)
I cannot wait for my Alexa enabled, WiFi having, 8K UHD toaster with its robotic arm.
Will the toaster be able to butter the bread, or spread some cream cheese on bagels, depending on what it's toasting?
Re:Awesome (Score:4, Funny)
Sure, why not? [xkcd.com]
Re: Awesome (Score:1)
Instead of putting chips in toasters and toilets (and all the other strange IoT things), could the chips be provided to vehicles instead?
Not like we can drive a toaster to work...
Re: (Score:2)
Funny you should say that. Oracle is coming out with a toaster that drives you to work. Once there, it pops you out of the seat and onto the pavement. . .errr. . .they are still working out a few bugs. And they have to solve the problem of not burning you on both sides evenly.
Re:Awesome (Score:4, Informative)
Nothing wrong with smart toasters.
https://www.youtube.com/watch?... [youtube.com]
Just turns out the smart tech has been available since the late 1940s but for some reason none of the modern smart ones actually use it, preferring bullshit touchscreens, wifi and apps instead.
If you haven't watched that video, do. It's an enthusiastic nerd giving an insanely thorough review of an old toaster which is no longer for sale. Also microwaves.
https://www.youtube.com/watch?... [youtube.com]
Though I do have a minor quibble: he says inverter tech is the main innovation since the 90s. I would say price is really, to be fair. For the equivalent price of one of those now you can a lowering 1800W stainless steel industrial monster. No sensor cooking on those, but dual magnetrons with stirrers instead of turntables gives very even cooking and makes them very easy to clean.
Re: (Score:2)
What a silly toaster. It wouldn't even be able to get milk from the grocery store.
For whom? (Score:4, Insightful)
The companies making them or the hackers abusing the crap out of that insecure garbage?
Re: (Score:2)
Yeah, I have yet to see the compelling use case for these "IIoT" or "IoT" devices. Businesses will expect their investment to have payback, so what exactly is the value case, outside of some nebulous "productivity gains" claim?
Re: (Score:3)
An obvious use case is demand-side adaption to intermittent green energy.
When the wind speed drops or a cloud blocks the solar panels, send a price signal to IoT devices. ACs and heatpumps can idle their compressors, dishwashers and dryers can turn off their heating coils, EVs can suspend charging.
When the wind speed picks up, and there is excess power on the grid, send the opposite price signal, so ACs and refrigerators can pre-chill, and EVs can charge with max power.
Re: (Score:2)
The article does answer the question, but only in rather vague terms:
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Based on our research, the greatest potential for value creation in the factory setting will be optimizing operations in manufacturing—making the various day-to-day management of assets and people more efficient. Overall, operation-management applications in manufacturing could account for around 32 to 39 percent of the total potential IoT economic value created in the factory setting, or around $0.5 trillion to $1.3 trillion, by
Re: (Score:2)
Yeah, pretty vague.... So the "greatest potential" is the manufacturing "productivity improvements" and "efficiency gains", which sounds like EXACTLY what a management consulting company would tell you in a powerpoint full of nebulous bunk and job cuts, then bill you millions. Then 14% is medical, but will it be more than just nerds who want to monitor their vitals? And what's the benefit? Then vehicles... I don't really think of vehicles as "IoT", so that's interesting, but I do think that part will happen
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I got enough work without that, thank you.
Also, if they can't be bothered to spend a few dollars on creating secure firmware, do you think they'd pay me my not exactly cheap hourly rate to plug their security holes?
Your refrigerator will stop cooling in 8 days... (Score:5, Funny)
What could possibly go wrong? (Score:4, Insightful)
Re: (Score:2)
Come on, it's the megaman battle network sans the net navis that clean up the viruses
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Welcome to the MetaVerse where the avatars mysteriously freeze in mid-wank. Once you leave, they carry on without any of that pesky human interference.
Interesting use of words (Score:2)
"Internet of Things Projected To Generate Up To $12.6 Trillion By 2030". How do you "generate" money? Think about what really happens, and you will see that some people use natural resources to make machines, and then sell those machines to other people. The hypothetical $12.6 million isn't "made" or "created" or even "generated". It's transferred from some people to other people.
The machines may or may not turn out to be useful or amusing. But that has little or nothing to do with the $12.6 trillion.
smart (Score:1)
Why would you?
Re: (Score:2)
It's nice to be able to turn off or dim all the lights in the house from my bed instead of having to go all over the house for every single light on two floors.
Where can I buy... (Score:1)
a dumb simpler timer relay switch?
They seem to be thin on the ground these days
More surveillance: welcome to the Panopticon (Score:2)
Re: (Score:1)
And what will they do with this millisecond record of our lives?
Most likely they'll sell it to someone else.
And what will they do with it?
Re:More surveillance: welcome to the SWASTIKAS!!! (Score:1)
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ii ii ïi ii iï ii iicXMMNMMNQjii ii ïi ii iï ii ii [youtube.com]
ii ii ïi ii iï ii cSMMNMMNMMHJii ii ïi ii iï ii ii [youtube.com]
ii ii ïi ii iï iiSWMMNMMNMHJii ii ïi ii iï ii ii i [youtube.com]
ii ii ïi ii iï 6WMMNMMNMNYii ii iiJcii ii ïi ii iï [youtube.com]
ii ii ii ii i5WMMNMMNMN5ii ii iiJHMMScii ii ii iii [youtube.com]
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Re: (Score:2)
Seriously? (Score:1)
I am getting old. I do not want a wifi connected toaster, fridge, water heater, etc.
Now, get off my lawn.