This is a huge step for you. I've considered doing a PhD to become an academic myself but opted out of doing it because

(from my own observation in the field of Engineering, do correct me if I'm wrong )

1. Lecturers are often involved in admin work which can sometimes be exhausting
2. To progress as an academic you would need to be publishing all the time (like 3-4 times a year where I went) - I found this unbearable because I just like teaching. Of course, you can stick to teaching but that would really, really stall your promotions.
3. PhD life can get monotonous and lonely (unless you do it in a good research university, of course )
4. Pay cut - academics do get paid much, much lower than people in the industry. If you're thinking of starting a family on this paycheck for 3 years, it's going to be a little challenging. Especially if everybody's used to living off your corporate salary.
5. Teaching the same modules year in, year out. It can get tremendously tedious to teach the same things year after year. Unless of course you get to fiddle around with the course structure

There might be less use for a PhD in the corporate world than the academic world. So it would be a huge opportunity cost for you if you pursue it and then decide not to lecture. 3 years of working experience can push you up in your career ladder!

Anyway, Good Luck!