Forecasts for the Internet of Things market are through the roof.
While estimates vary, nearly all agree that billions of IoT devices are expected to be integrated into our lives over the next five years, amounting to trillions of dollars being spent by both businesses and consumers. Everything from smart cars and cities to connected homes that adapt to our habits will become the norm within a few short years, or so the “experts” predict.
But according to a recent report from management consulting firm Accenture, the migration to an IoT world is overestimating one thing: consumer willingness to get on board. Despite sky-high expectations, the Internet of Things has serious roadblocks to overcome before it goes mainstream.
For players like Alphabet, IBM, and Apple, which have invested heavily in what is expected to be the “next big thing,” the road to IoT dominance won’t be quite as smooth as originally thought.