Digital twins and activity trackers, digital contact lenses, connected contact lense, smart locks, home automation, smart grids. Each day, the Internet of Things is being used in new ways. This technology, which connects digital devices to send/receive data via the internet, is revolutionizing every industry because of its incredible potential.
According to projections, the global total installed base of Internet of Things devices connected to the Internet of Things (IoT), will reach 75.44 trillion by 2025. That’s fivefold growth in ten year.
Internet of Things (IoT), devices connected worldwide between 2015 and 2025 (in millions).
The Internet of Things is transforming the way we interact with our surroundings. The Internet of Things has changed the way people interact with everything, including HVAC systems, appliances, security system, cars, and even vehicles. It allows you to remotely monitor and manage objects, enabling data-driven decision-making. IoT is a promising technology that businesses around the world have been investing in.
Companies Impacted by Internet of Things
Mckinsey Global Institute says that factories will be the most important contributor to IoT ($1.2 trillion to $3.7 trillion). Next, smart cities and smart cities will contribute to smart cities, health, retail, non urban outdoor environments, custom production environment, automotive, home and office. Below are some examples of IoT’s best use cases, broken down by industry.
Healthcare. 80% of healthcare industry executives view increased innovation as the main benefit of IoT deployment. 73% of respondents cited cost savings and 76% highlighted “visibility within the organization” among their top advantages. (Source: Aruba)
IoT technology has been adopted rapidly by the healthcare sector. The industry stakeholders are reaping the many benefits of IoT for healthcare.
The healthcare industry is embracing wearables, ingestibles, and other devices that help in monitoring and maintaining health and wellness. These devices offer solutions for disease management, enhanced fitness, and improved productivity. IoT also allows doctors to remotely monitor patients and reduce the response time to an emergency. It also collects clinical data to improve care delivery.
Manufacturing IoT enables robots to autonomously manage and operate machinery in manufacturing and other industrial sectors. This allows for greater efficiency and savings. IoT can be used to improve manufacturing’s efficiency and safety by connecting factories and allowing for production flow monitoring, facility management, inventory management, quality control, plant safety, security, and logistics as well as supply chain management.
Impact of industrial internet-of-things (IIoT).
Consumer Electronics Several IoT-backed electronic products are already available. Smart locks, HVAC automation smart plugs thermostats smart plugs wearables security smart garden are just some of the many electronic devices that IoT has enabled. IoT’s growth in consumer electronics is due to growing use cases, consumer acceptance and increasing demand. Internet of Things developers are developing innovative solutions that allow consumers to have better control over their devices and machines, with minimal human intervention.
Transportation and Logistics – No matter whether the transportation is by land, air, or sea transport and logistics can play a significant role in improving productivity. IoT is a great tool for logistics.
IoT technology is being used in almost every industry. The Internet of Things is seeing a boom worldwide. IoT, which is data-driven technology, has numerous benefits. You can schedule a 30-minute consultation with one of our IoT specialists if you also have an idea, or a need where IoT has the potential to disrupt your business. Our Internet of Things specialists will work with you to understand what your business needs are, estimate the cost and then turn that idea into a viable solution.