A year ago the management consulting giant McKinsey & Co. predicted that the internet of things (IoT) could unlock $11 trillion in economic value by 2025. It’s a bold claim, particularly given that IoT currently proves more useful in launching massive DDoS attacks than in recognizing that I need to buy more milk.
Now, McKinsey has a new projection. It involves cars, and it declares that data “exhaust” from autos will be worth $750 billion by 2030. The consulting firm even goes so far as to lay out exactly how we can grab that revenue. If only it were as easy to make money off car data — which consumers may not want to share — as it is to prognosticate about it.