TOP-5 Industries that Implement IoT Solutions
Nowadays Internet of Things is a fast-growing field. According to a Gartner report , 43% of organizations across the world have already implemented IoT solutions in their businesses. But there are a few industries that are leaders in adopting IoT. Manufacturing, Transportation and Utilities are at the TOP of this list.
The largest investments in Internet of Things are made in manufacturing industry. There are two main categories for investments: inward facing and outward facing.
Inward facing investments are those concerned optimizing inner systems and cut costs. Manufacturers adopt IoT solutions in order to improve inner processes, monitor their equipment and prevent and predict any break-downs. According to IDC, manufacturers invested $102.5 billion in 2016.
While inward facing investments enhance inner processes, outward facing investments help to improve customer usage. By implemented IoT solutions, manufacturers find out how their products are used by their clients by maintaining a networked link to those products, and sampling usage data and sensor measurements. It helps manufacturers to fix issues fast and develop a better product in the future.
The second industry which invests in IoT solutions pretty much is transportation. In 2016 it spent $55.9 billion, according to IDC.
In transportation industry IoT solutions help to schedule maintenance, optimize fuel consumption, train drivers as well as monitor their behavior to ensure safety.
The most popular investments in utility industry concern Smart Grid for electricity and gas. In short, Smart Grid is the digital technology that allows for two-way communication between the utility and its customers. The Smart Grid consists of controls, computers, automation, and new technologies and equipment working together, but these technologies work with the electrical grid to respond digitally to our quickly changing electric demand.
IoT solutions are also important for oil and gas industries because even a small breaking down of oil pump can turn into huge revenue losses.
As well as manufacturing, utilities industry also uses IoT solutions to monitor its equipment and do predictive and preventive maintenance.
There are many ways how healthcare industry can adopt Internet of Things. From sharing information between patients and doctors to monitoring and troubleshooting problems with equipment as well as tracking medicine dispensation.
Connecting medical devices to the Internet results in reducing errors, providing more accurate data to doctors and enhancing the quality of medical treatment.
Consumer Electronic Cars
Consumer IoT solutions are spreading across the world quickly. It is predicted to become the third-largest segment in 2020.
Many home appliances today have capabilities that allow users connect to the Internet. Moreover, home automation is becoming more available as there are many pretty cheap controllers and devices that consumers can install by themselves.
IoT implementation applies to the car industry, too. For example, every General Motors car produced today has IoT capabilities that allow drivers to gain diagnostic information and connect to the internet
Even if you’re not belong to one of these industries, today it is very important to keep up with new technologies and be at least one step ahead of your competitors. Internet of Things help you to optimize you processes and enhance the quality of your services making them more reliable and faster.
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