The Internet of Things (IoT) is broad and promises to almost everything for almost everyone: McKinsey & Co. estimates a potential economic impact of IoT systems of as much as $11.1 trillion per year in 2025. Approximately 70% of the value is derived from B2B applications. GE believes the IoT will add $10 to $15 trillion to worldwide GDP growth by 2030 – the equivalent of China’s entire current economy. Intel forecasts 200 billion connected devices by 2020, nearly 25 connected devices for every person on earth. IBM believes that making sense of data embedded in intelligent devices is creating a significant market opportunity that is expected to reach $1.7 trillion by 2020. With such staggering predictions across so many industries, companies working in the IoT face a problem of broadness. The potential target market is “almost everything for almost everyone,” so how should an IoT startup approach the market and where should one start? […]