The world of connected machines, sometimes called machine-to-machine or the Internet of Things, is now becoming tangible from both a technological and commercial perspective. However we are all still inundated by the hype proclaiming the pot of gold sitting at the end of the IoT rainbow, but how near are we to that pot? That 50 billion connected devices prediction has now become ubiquitous, but where is the scale? What will generate a return on investment, or do we all need to keep chasing after the rainbow?