From agriculture to retail, the internet of things (IoT) is changing how companies in many industries operate. Here’s a look at six industries being transformed by IoT.
How IoT is Changing the World?
IoT device installations in the agriculture industry are estimated to grow from 30 million in 2015 to 75 million in 2020. Using different sensors, farmers are collecting data about their crops and livestock to make intelligent decisions to optimize their yields.
Connecting the healthcare industry ensures efficient business and better service for patients. For example, by connecting an MRI machine to the internet, hospital staff can get alerts when it needs attention for maintenance.
Perhaps this is the biggest industry being impacted by IoT. Global manufacturers will invest $70 billion on IoT solutions by the end of 2020. This enables factory operators to not only see when a piece of machinery needs maintenance, but it also gives insights on how to make the entire system work more efficiently.
IoT is also changing the way energy companies do business. Utility companies are beginning to use smart meters. Because of the two-way communication, smart meters give utility companies the necessary data to better predict demand, spot outages, and help the company know when to schedule repairs.
Retailers are beginning to use Bluetooth beacons in their stories to better reach their customers and offer personalized discounts.
From supply-chain logistics to public transit, IoT solutions are being used to improve business in many ways. By connecting shipping vehicles with sensors to monitor temperature, it can help ensure goods, especially food, arrive in a safe condition. Sensors and smart software can be used to collect data that can help the driver operate the vehicle in a manner that helps save fuel. In the future, connected infrastructure will also work with connected vehicles to help reduce traffic and prevent accidents.