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WHY EUROPE INVESTS IN IoT: A €10 TRILLION OPPORTUNITY
IoT-driven innovation in the main work and life application environments is expected to drive economic growth and business opportunities
Mc Kinsey forecasts the range of the IoT poten- Scenarios of the potential economic value generated
tial impacts on the global economy by 2025 in the by IoT in the economy by 2025 in the world (minimum-maximum range, $ trillion)
range between $3.9 and $11.1 Trillion (€3.5 and
€10 Trillion, including consumer surplus), based
on the analysis of the physical settings (domains)
where IoT technologies display their impacts.
The first EU Large-Scale Pilots have developed
the IoT ecosystem in application settings of prima-
ry economic and industrial relevance for Europe:
from devices attached to the human body and to
the home (ACTIVAGE), to the innovation of ope-
ration processes (precision agriculture, IoF2020),
automated vehicle (AUTOPILOT), to smart ci-
ties (SYNCHRONICITY, MONICA) and the great
outdoors (MONICA, AUTOPILOT).
Together, the LSPs address application settings
where IoT could generate economic impacts up
to €7.7 Trillion by 2025, almost 80% of the total
estimated by Mc Kinsey.
Source: Mc Kinsey Global Institute «The Internet of Things: Mapping the Value beyond the Hype»

