No doubt, you can’t escape the Internet of Things (IoT) momentum nowadays.
No doubt, you can’t escape the Internet of Things (IoT) momentum nowadays. It is changing the way we do things from the way we live, work, travel, and do business. So, what’s IoT? In simple terms, the Internet of Things (IoT) enables us to connect “things” to the internet and to networks that use internet technology.
These ‘things’ are basically devices such as smartphones, smartwatches, and computers and can exchange information between them and transmit data to other devices and systems.
How can IoT add value to the current business systems?
The Internet of Things is a necessary driver for customer-facing innovation, data-driven optimization and automation, digital transformation, new business models, and revenue streams across all business sectors.
Arguably, IoT is the next step in the evolution of the internet and is thought to be a continuation of Machine-to-Machine (M2M) networks and technologies.
What industry sectors can benefit the most from IoT?
The IoT technology is used in virtually all industries and business areas to unite Information Technology (IT) and Operational Technology (OT). It contributes to industrial transformation (Industry 4.0) and is at the center stage in the Industrial IoT, arguably the largest IoT applications and investments segment.
The primary industries of IoT investments include; manufacturing, transport, smart grid technologies, smart buildings, consumer IoT, home automation, and retail.