IOT, or the Internet of Things, is taking the technology by storm. Technology is everywhere, and the future is digital. The future is more than just technology though, but technology has found its way into so many other aspects. How will the Internet of Things stretch farther than the world it was produced in? Learn how the Internet of Things is impacting other industries below.
A current industrial revolution is in the works, and IOT is helping it happen.
IOT works to optimize two main areas in the manufacturing industry: business and production. This industry will be impacted from the ground up. On the floor, there is the possibility to have new technologies incorporated into machines which will work more efficiently, and possibly entirely on their own. This technology includes the possibility for predictive maintenance, a time-consuming and expensive cost if not dealt with timely and appropriately. The sensors used in IoT technologies can predict and alert to maintenance concerns, along with many other functions these sensors possess such as detecting issues that would present safety concerns. To read more about what these sensors could do for the factory floor, click here.
The manufacturing industry will be completely transformed in the way that they are run and monitored. According to Tech Company Sensohive, “IIoT enables manufacturers to have new ‘eyes and ears’ in the production.” The new technologies and machines will allow for the factory floor to be better maintained and monitored, and executive offices will have access to more data. This data will be vital in accessing efficiency and cost optimization in time, cost, and production. These technologies will connect the factory floor to the executive offices and will allow those making decisions to have a fuller view and a better understanding of the workings of the company.
It’s not easy to sell to a complete stranger. With IOT technologies, no customer is truly a complete stranger.
IoT technologies are excellent for collecting data of all sorts. How does this function in the retail industry? Wonderfully, actually. Having data on a direct customer is extremely useful for deciding how to tailor a sale to that customer. According to the site I-Scoop, “89% of early-movers in retail gain increased insight into customer preferences and behaviors from the Internet of Things.”
IOT systems are being used in the retail industry to collect data on who enters a store, and it picks up on their demographic, their age, which area of the store they spend the majority of their time in, and how long they were in the store compared to how much they actually purchased. Incorporating this technology into this industry not allow allows for retailers to get a better understanding of their customers, but it allows for them to create personalized experiences for shoppers. Products and services may then be suggested to the customer based on previously collected data.
Incorporating IOT technologies into a retail corporation allows them to use sensors to detect when inventory in a warehouse is low so that products are always available when customers want them. Also, these technologies can be used to track shipped packages more efficiently and keep the consumer informed about their progress and status.
Customers themselves can even make the job easier, utilizing IOT software to scan an item on their phone and instantly receive information about the products such as its price and helpful reviews. A customer who has more information on a product is more likely to purchase that product, and a company utilizing IOT is more likely to get them their product successfully.
The use of IOT in the Health Care industry is exciting because not only is there the potential to save money, but there’s a potential to save lives.
The incorporation of the Internet of Things into the Health Care industry is not yet completely widespread, but the opportunities for its integration are. According to Forbes contributor Bernard Marr, “the IOT healthcare market will reach $136.8 billion worldwide by 2021.”
IOT has implications in both the personal patient side of health care and on the insurance side. IOT hopes to instill wearable technologies that they can all speak to each other so that they may individually monitor things about a person such as their heart rate, blood sugar levels, glucose levels and more. According to IOT Agenda, these sensors “gather medical data that was never before accessible.” IOT allows the separate devices to communicate and interpret, based on the data that they are collecting, whether there is a problem. From here, they can alert the patient and other necessary assistance so that these problems can be attended to. These devices offer patients the opportunity to monitor their own health from the comforts of their own home.
The Internet of Things is applicable to the health insurance sector as well. Allowing patients to monitor their own levels at all hours provides insurance companies with data that is both truthful and accurate. In addition, this data allows doctors to be more proactive in diagnosing and treating patients which prevents many simple sicknesses and illnesses from getting to a point where they are life-threatening. Click here to read more about the ways IOT systems can be utilized in the healthcare industry.
The Internet of Things has the potential to have a huge impact on the transportation industry, an industry that spills over onto many others.
The site Supply Chain 247 states that “whether by air, ground, or sea, transportation and logistics are essential components to many enterprises’ productivity and access to real-time data is critical.” With IOT software, cars will hopefully have sensors that can monitor and schedule maintenance, optimize fuel, and even train their drivers. Sensors can monitor traffic flow and predict obstacles that could slow up delivery processes, allowing companies to alert their customers or even decide early enough on alternate means of delivery. This proactive approach will save companies money as well as strengthening their relationships to their customers. In addition, the software is hopefully developing to a point of autonomous driving, a practice which is obvious in its ways to potentially save corporations money. To read more about how businesses are directly impacted by the growing incorporation of IOT into the transportation industry, click here and here.
IOT is having a large impact on the energy industry, helping business’ wallets and the earth’s well-being at the same time.
Incorporating IoT software into the energy industry has positive effects on all types of businesses, whether they are energy-focused or not. As we’ve established, one of the most important parts of IoT software is its ability to use sensors and technology to collect and utilize data. These sensors play a huge role in this industry. Placing the sensors on machines can allow companies to monitor if the machines themselves are functioning in a way that is environmentally efficient, as functioning this way saves businesses money.IoTT sensors placed on smart thermostats can be used to automatically switch off high-powered devices during their peak demand times.
According to IOT Innovation, “In the United States alone, 30% of the energy used in an average commercial building is wasted.” The data collected from sensors can give companies an idea of whether they are being efficient or not, and smart sensors can help them fix their issues and become more efficient in the areas they identify through the data. Maintaining equipment and supplies in this way helps to avoid outages, utilize their power, and identify safety hazards, saving energy and money for all businesses. Click here to read more about the way in which the energy industry is impacted by IOT.
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