If you are from the internet generation, you must have got the idea about what IoT - the Internet of Things is. The emergence if IoT in simplest terms has gone up in our lives. Be it smart homes apps, fit bands apps, google glasses or any other smart device - Internet of Things is bringing smart technology in our periphery. It is devising a language that lets devices connect with each other.
Present Market For IoT
IoT has changed the way we see technology and our daily routine. The way we drive, the way we make purchases or the way we are using energy at our home- IoT has the potential to transform everything.
“But apart from these mushy talk, is there is a real market data that can make me believe in the growth of IoT?”
Well, you can surely ask this. FYI, the market size of IoT is expected to grow to be worth of 561.04 Billion USD by 2022. In addition to that, the global revenue will reach around $7.065 Billion USD by 2020 which is definitely something to look upon. The reason for this surge? IoT came right when users are actually looking for automation.
Which Industries Are Majorly Influenced By IoT?
Internet of Things is touching every sphere of life and hence the effects are prominent in top leading industries. There are IoT apps developed for many industries, but let us find the most prominent industries where IoT is magnifying their productivity.
1. How IoT Is Transforming The Healthcare Industry
Healthcare industry consists of a huge data that remain unused. This creates chaos and increases the cost of management. It not only makes the life of patient difficult but increases the difficulty to the organization. Similar to these, there are many other problems inthe healthcareindustry that can be solved by IoT. and guess what, the revolution has been already started!
With a market of $160 billion by 2022, the reach of IoT healthcare will be profound. You can find personal fitness bands to even automated surgical robots, running on IoT. It is powerful enough to make anything perform in the best way. And it goes same for healthcare ecosystem.
By opting for an intelligent IoT healthcare solution, you can create a usage optimized product that can address specific challenges. It includes enhanced at-home healthcare real-time tracking analytics, remote patient monitoring, and a seamless data sharing.
Another remarkable benefit of internet of thing is the Real-Time Location System- RTLS. This system allows tracking of medical equipment, devices, caregivers, and patients. How? There a GPS integrated tag that can be attached to the IDs of any member of the organization, patients, and medical devices. There will be an app to track everything- literally everything. For an in-depth information on how IoT healthcare solution is transforming medical sector, read this.
2. The Effects Of IoT In Changing The Way We Use Energy
Whether it’s smart AC, TV, lights, security cameras or any of your appliances that run on energy, IoT has the potential to make use of energy in a smart way. How?
IoT has made automation possible- which means- your ‘smart’ devices can understand the environment and respond accordingly. Your smart light will understand your presence and switch it off. Mobile apps play the major role here.
Mobile apps made for light/home appliances will trace your location and work accordingly. You will get hot water in your geyser ready with lights switched on in the room you prefer to stay. Your security cameras will send your app notifications if there is any security breach.
3. Internet Of Things Is Clearly Defining The Retail Game Altogether
Internet of Things is blurring the differences between physical and digital experiences when it comes to retail. The retail industry that consists of brick and mortar store is now merging with digital experiences, for the customer who wants a frictionless switch. To make this possible, there are ample of solutions by IoT that is bringing the digital signage.
This digital signage in IoT, there will be a closely connected network of sensors, data analysis, personalization, information and the user context. Check out the blow representation to understand.
In addition to this, IoT offers a bigger opportunity in transportation and logistics which are definitely two most important aspect of the retail industry. Tracking accurate location to let users track their order from shipping to delivery can now be done on an app. Apart from that, Amazon has set up an exceptional example with Amazon Go, which is a shopping store by Amazon. It’s considered one of the best IoT retails solution by any company.
4. IoT Is Gonna Make Future Farms Run Themselves!
After healthcare, retail, and energy, Internet of things is going the change the game for agriculture. The time has come when microcontrollers, smartphones, drones, and wearables will make farming a cake walk.
The world of agriculture integrated with IoT can be collectively called Agtech, which is the next step of disruption. It is automating laborious tasks for farmers and growers to grow crops - in an efficient way. It is reducing labor cost, power usage and hence increasing the output. You can think of wearable app development for this.
You can now have automated drones for framing, smart tractors and a smart network that connects you with an app. It monitors the field, tells the nutrient value and gives you every detail on your smartphone app.
This is not it. There a lot more to IoT innovation. There’s more to come. Before that, let us quickly assess the benefits of the Internet of Things.
Benefits of IoT - Infographic
Though there are certain limitations to IoT, benefits are many. It has fueled smart cities, better living, smarter farming and definitely a smart transport system. This detailed infographic by RS Components is definitely the best to understand IoT and its benefits. Let’s have a look at it.
It’s definite that there’s going to be a big investment in the coming years. Businesses could adopt great IoT solutions that will
Decrease cost of operations in organizations
Garner more investment from different industries
What’s your take on it? Let’s discuss and create something beautiful.
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This decade, we have been blessed with a plethora of new technologies that will change the way we live. From smart wearables to VR glasses, the Internet of things ideas that will change your life in the near future simply grow each day.