About US$ 11 trillion worldwide – that is the number the McKinsey Global Institute (MGI), an international think tank, estimates the economic added value of modern IoT applications will amount to by the year 2025. The Internet of Things (IoT) has the potential for the greatest impact in factories (up to US$ 3.7 trillion of economic added value), for example, due to cost or time savings. But who ultimately benefits from this added value?
Consumers have long learned to appreciate the benefits of digitalization: custom products available in a very short time at a reasonable price and of the best quality. As a result, companies have had to shift their focus from homogeneous market requirements to the needs of each individual customer. The key to a multivarious and customized range of products lies in digitalization.