We help clients unlock value by digitizing the physical world
Sensors and ubiquitous connectivity, combined with data and analytics, open up new opportunities to innovate products and services and to increase the efficiency of operations. This digitization of the physical world—or Internet of Things (IoT)—creates new value for our clients and for their customers.
The Internet of Things presents an enormous opportunity to transform the way we live and do business. McKinsey’s Global Institute predicts IoT will have an economic impact of between $4 trillion and $11 trillion by 2025. Companies can capture value by creating new revenue streams from providing connected solutions and services to consumers and enterprises and by
reducing costs in operations. Much of the IoT data currently captured, however, is under leveraged. We take an integrated approach to digitizing the physical world to create new insights and business models and to unlock real value for our clients.
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Senior Partner Eric Lamarre discusses the three ways IoT Ventures helps clients capture Internet of Things opportunities: Connected Products, Connected Operations, and New Business Building.
100+ large client engagements
in the past 2 years
75+ IoT-dedicated senior practitioners
and partners across industries and geographies
10+ industries served
on IoT-related engagements
OUR KEY OFFERINGS
Product connectivity and sensor augmentation allow companies to envision and launch completely new products and services
Digitizing operations offers the potential for step-change improvements in quality, productivity, and safety
IoT can also create opportunities to build completely new businesses, as part of a larger company or on a standalone basis
HOW WE WORK WITH CLIENTS
We typically conduct the following five types of projects, partnering with clients wherever they are on the IoT journey.
Help clients understand the strategic context and full economic picture before embarking on an IoT journey
Work with clients to build prototypes to demonstrate the IoT value and clarify their digital roadmap
Help clients become self-sufficient by standing up their IoT/Digital Factories through recruiting, training and organizational development
Empower client teams to deliver a fully-functioning commercial/ operational application
Our leading industry and functional expertise, combined with our understanding of technological possibilities, uniquely-position us to identify value creation opportunities from IoT for our clients
We help companies develop IoT use cases and deliver solutions at-scale by augmenting their team with our end-to-end expertise and capabilities across the technology stack
Scaling up successful IoT pilots to capture value at-scale can be challenging. We assure value delivery by bringing business transformation capabilities and underwriting the delivery risk.
Our sole goal is to accelerate your scale-up by using the best technology or platform necessary. We don’t believe in a one-size-fits-all service model. Often the best solution may be completely customized, or it might involve incorporating a tool from one of the thousands of other solutions providers.
We help clients with standing up IoT/Digital Factories by providing a starting team by seconding experienced McKinsey partners and consultants. Then we help with further scaling up by recruiting talent, training and developing the organization.
How McKinsey helped a telecoms company launch an end-to-end IoT platform, build an ecosystem of partners, and launch the platform’s first product.
An interview with McKinsey Partner Kabir Ahuja on the outlook for the US connected-home market.
McKinsey Global Institute Partner Michael Chui speaks with industry leaders about how humans, machines and the network might evolve together
McKinsey Partner Mark Patel joins tech industry leaders in a discussion about how the IoT will shape the future
Michael Chui sits down with CNBC's Sri Jegarajah to discuss cbyer security risks, the talent gap and other obstacles to capturing IoT's potential
Focuses on broadly improving operations in industrial sectors, particularly for companies in China
Serves clients across industry sectors on issues related to strategy, technology-enabled transformations, and large-scale productivity...