Make the Best Business Decisions with Internet of Things (IoT)
Leverage intelligent, predictive algorithms and digital twins to improve operational efficiency, boost worker productivity, enhance CX, and create new business models and opportunities.
STRATEGIC
58% of Companies think IoT is strategic
REVENUE GROWTH
81% increase in IoT edge revenue annual growth rate
Connected
20 - 30 Billion connected IoT devices in 2020
BUSINESS
90.6% of IoT devices are business related
Tech
IoT is rapidly
making the world smarter
IoT enables companies to automate processes and reduce labor costs. It also cuts down on waste and improves service delivery, making it less expensive to manufacture and deliver goods, as well as offering transparency into customer transactions.
What is Internet of Things(IOT)?
The Internet of Things (IoT) is a network of physical devices that are embedded with software, sensors, and network connectivity for the purpose of connecting and exchanging data with other devices and systems over the internet.. IoT makes everyday objects ‘smart’ by enabling them to transmit data and automate tasks, without requiring any manual intervention.
One of the most prominent examples of IoT is perhaps the “Smart Home”. It allows you to control everything in your home – from your thermostat to your lighting to even the surround sound. Essentially, any object that can be connected to the internet and controlled that way is a candidate for an IoT device.
Increasingly, organizations in a variety of industries are using IoT to operate more efficiently, better understand customers to deliver enhanced customer service, improve decision-making and increase the value of the business.
How Does Internet of Things (IOT) WORK?
- In a nutshell, IoT works in the following way:
Why IoT is Important?
Over the past few years, IoT has become one of the most important technologies of the 21st century. Now that we can connect everyday objects—kitchen appliances, cars, thermostats, baby monitors—to the internet via embedded devices, seamless communication is possible between people, processes, and things
What Can IoT Do For Dour Business?
The Internet of Things offers numerous benefits to organizations. Most modern enterprises are already leveraging IoT to automate and simplify many of their daily tasks. Connected devices are being integrated into existing and evolving business processes.
What Is Industrial IoT?
The Industrial Internet of Things (IIoT) or the fourth industrial revolution or Industry 4.0 are all names given to the use of IoT technology in a business setting.
The industrial Internet of Things focuses on automation – not just to lower operating costs but also to increase productivity, improve business processes, enhance customer experience, expand to new markets, and generate additional revenue streams.
Industrial IoT is all about being well-informed to make timely and better decisions. It can help organizations shift from the traditional way of selling hardware or software to selling all-inclusive solutions – products equipped with sensors and wireless communications to generate valuable data.
The following are some common uses for IoT:
IoT in Manufacturing
IoT devices can be added to machines and supplies, which can produce data that are analyzed to monitor process performance and improve efficiency and product quality. With the help of sensor alerts, manufacturers can quickly check equipment for accuracy or remove it from production until it is repaired. This allows companies to reduce operating costs, get better uptime, and improve asset performance management.
IoT in Energy
An oil and gas company can use IoT devices to measure multiple data points along a drill line. Information from the devices is used to adjust the speed and pressure of the drill bit when drilling, resulting in an optimization of the process that reduces costs. Smart grids rely heavily on IoT devices to facilitate communication between the energy grid and the building consuming energy.
Smart homes and buildings
IoT devices can be deployed in both residential and commercial buildings to make resource and energy allocation more efficient and increase security, among other things. Such devices could include smart thermostats and refrigerators, connected security cameras and lighting sensors.
IoT in Healthcare
IoT devices offer a number of new opportunities for healthcare professionals to monitor patients, as well as for patients to monitor themselves.
Examples of IOT medical devices
- Remote temperature monitoring for vaccines
- Medical data transferring tools
- Drug effectiveness tracking
- Vital signs data capturing
- Medication refill reminder technology
- Remote care biometrics scanners
- Sleep and safety tools for infants
IoT in Supply chains
IoT-enabled devices have been used in supply chain management since the 1990s, mainly via Radio Frequency Identification tags, the report notes. Now, a range of IoT devices and sensors are helping in “identifying bottlenecks, reducing inefficiencies, and as a result, reducing costs.” Integration of IoT devices enables companies “to address distribution bottlenecks and improve supply management,” as well as “determine exactly how much product is at a location, giving them information needed to improve their restocking program. The shipping process uses IoT devices to measure environmental data, such as temperature, humidity, and pressure
Smart Cities
Cities all over the world are getting smarter, and that has everything to do with hyper-connectivity made possible by the ever-burgeoning Internet of Things — the vast network on which numerous linked devices share data that’s analyzed and then acted upon to optimize conditions in a variety of sectors.
the IoT helps urban areas operate more smoothly and efficiently, which enhances the quality of life for residents and saves money in the process.
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