8 Industries that will be Completely Transformed by IoT Technology
Imagine a home where your AC itself call the company guy for a service facility. The geyser gets turned off when not in use and car drive your kids to school. Your room gets warm up and doors lock itself up with a mere click on your smartphone screen.
Won’t that be amazing? Life will be so comfortable, isn’t it so? If you were not into caves until today, you will be familiar with the fact that all these visualizations are sooner coming to reality. The IoT technology is making it possible for us to interact with not only humans and robots but also with anything and everything around us (even with your bread toaster and refrigerator).
The Internet of Things technology has been in the market for past many years and VPN router technology also means that the devices are now secure. However, it’s now when its potential is being explored and utilized effectively. The technology is revamping endless industries, but the major 8 industries are:
The technology will provide real-time data to the insurance agencies which will empower them to evaluate insurance rates and offer better services to their clients. Besides, the technology is giving a 180-degree revolution to the insurance industry with the introduction of smart home, cars and gadgets.
One of the best examples of IoT application in Insurance business vertical is Liberty Mutual’s approach. Partnered with Google’s Nest, this company enforced smoke alarms in the home. This alarm informs the customers when there’s any smoke and this way, lower down the risk of fire and cut down their home insurance premiums.
The Internet of Things is acting as a driving force in the agriculture and farming industry. It is aiding the industry to overcome varied challenges like extreme climate change and hence, feed the rising population. The technology is helping the industry in numerous ways, for example –
- The Livestock sensors are being used to notify herders when their cattle roam outside the pre-decided boundary. This has cut down the hassle of the herders as well as the need for hiring more ranchers.
- The Soil sensors are helping farmers to understand and measure the nature of the soil (acidity, humidity and other such factors) and thus, take better steps for yielding higher productive outputs.
- The Self-driving tractors are saving the time and efforts of the farmers, enabling them to focus on more crucial tasks while the tractors do the monotonous regular work.
One such company using IoT in agriculture sector is JMB North America. It uses battery-driven sensors to help herders monitor their pregnant cows and provide required aid to them.
3. Retail Industry
Just like Supply chain, the retail industry is also turning towards IoT and mobile app technology for streamlining its processes and providing more personalized services. The technology is enabling them to track not only the good/products but also their employees in-store and outside.
They can send push-in notifications to passerby and encourage them to take the perks of the currently available discount offers. And on the top of it, the technology empowers retailers to predict and ensure the availability of the desired product along with eliminating the risk of item loss or theft.
If you are into retail business and take the perks of the aforementioned benefits, hire the best IoT developers today itself!
4. Supply Chain/ Manufacturing
The Internet of Things is becoming the next big thing for the manufacturing and supply chain companies. The technology is improving the industry in two ways – enhancing operational efficiencies and opening newer revenue opportunities.
With the help of IoT, the agencies are able to track their products beyond the barcodes and tracking numbers. They are able to gain information about the product throughout and even gain access to related information like the temperature outside the product, time traveled in the cargo, etc with just a click. All the gained insights are making it easier for them to make product forecasting, ensure quality and deliver products on -time. Besides, the information received related to the customer habits and lifestyle is also helping them to make better marketing strategies and earn higher revenue.
And with the integration of Blockchain and Edge computing technologies into the supply chain process along with the IoT, the industry is going to be more productive and creative.
Healthcare is one of the top of the list when talking about industries getting benefited by the IoT technology. If you have a look at the statistics, the Healthcare IoT solutions are expected to surpass $1 trillion by the time we enter 2025.
The technology has numerous applications in the healthcare business vertical – from remote monitoring to medical device integration and smart sensors sharing data in real-time. It has made it possible for the medical practitioners to interact with their patients in real-time and deliver them exemplary services.
Besides, the IoT is introducing the concept of building customized pharmaceuticals and care guidelines as per the biological conditions of a patient, which means better and faster services will be delivered. In short, the technology is proving to be the right tool to ensure safety and satisfaction to the patients, without involving much time, efforts and cost.
And one of the exciting example to prove the IoT potential in the healthcare arena is Boston Medical Center where everything from informing nurses about newborn babies to reporting about the leftover food is done using the IoT enabled mobile applications and gadgets.
The Internet of Things is emerging out the future of the transportation industry. From self-driving cars to fleet management, the technology is proving a competitive edge over the existing methods. It is making possible for the vehicles to keep a track of what’s happening around, choose the best route and eliminate the risk of road accidents. It is helping users track when is the right time to provide maintenance service and much more.
According to the statistics, there will be more than 10 million driverless cars on the road by 2020, and this can be determined by the efforts of Uber and other companies.
The Internet of Things is proving to be a gamechanger in the media and advertising sphere. The technology is helping marketers to access real-time data and incorporate it into their processing.
The most overwhelming example is British Airways’ smart billboard ad in Piccadilly Circus (London). As you can see in the video below, the small boy in the billboard reacts to the overhead planes in real-time and the related information is being displayed. Such act engages the passerby, provide relevant information and make it easier for the advertisers to make a better business.
8. Oil and Gas industry
Another industry that is adopting the IoT technology is Oil and Gas Industry. The industry is considering this innovative technology as the right method to deal with spills, refineries shutdowns, equipment failure, and other such issues commonly experienced in remote field operations.
They are using the technology to extend & enhance the way sensors, analytics and networks are used in the process. This way, reduce their application response time via an interactive notification system. Besides, they are taking the technology as the right piece to fill the gap between the end users and service providers by gathering valuable data and leveraging business leaders with better ways to facilitate user-centric solutions.
In a nutshell, the Internet of Things is helping them to optimize their entire process, take better decisions and provide a safer working environment.
With time, the IoT technology is entering different industries (many more than those mentioned above). In fact, the IoT market is forecast to be of US $1.7 trillion, with more than 20.35 connected devices available in the market. This signifies IoT is going to become the cornerstone of all the technological innovations and industries, which means it is the right time to contact the best mobile app development company and invest in IoT development.
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