IoT system allows businesses to be smarter with real-time operational insights with the help of maximum connected devices and sensors. IoT is impacting many industries and it is opening up opportunities for many other businesses in future.
Applications of IoT
IoT in Transportation and Logistics
IoT-based applications can benefit the transportation and logistics industry with remote monitoring tools and analytics. IoT technology enhances GPS devices used in vehicle tracking and monitoring and enables improved operational efficiency with comprehensive vehicle data.
As of 2015, a total of 15.41 billion devices were connected to the internet. Thanks to new wireless technologies and other IoT-related advancements that number will balloon to 75 billion devices by 2025. That represents an increase of 487%.
IoT in Manufacturing
Manufacturing industries benefit from IoT applications which enables proactive maintenance of the equipment and inventory with the help of sensors. The system helps manufacturers to quickly check equipment for accuracy, movement or failure which improves the asset management.
By 2008, the number of devices connected to the internet exceeded the number of human beings on the planet. In 2003, the ratio of connected devices to living human beings was .08 : 1. As of 2018 that ratio is nearly 6 : 1.
IoT in Education institutions
Educational industry is leveraging major benefits of IoT. The smart connected system allows schools, colleges and other institutions to streamline their day-to-day operations and helps to focus more on teaching activities improving the student’s academics. Enhanced safety, smart communication, real-time tracking, instant alerts are the major benefits of adopting IoT in education.
By some estimates, the RFID market that was worth $12.6 billion in 2015 will double in value to $24.5 billion by 2020.
IoT in Healthcare
IoT provides a wide range of benefits to the healthcare industry. Patient and elderly monitoring, asset tracking and many other applications can uplift healthcare industries by improving the service. Realtime monitoring, patient behaviour, nurse attendance and much more can be easily tracked with an IoT enabled system.
IoT devices are finding widespread use in farming as well. A smart greenhouse that uses IoT sensors and automation is up to 30% more energy efficient than a standard greenhouse over a 20 year period.
IoT in Public Sector
IoT-based applications can be extensively used in the public sector and other service-related businesses. The system can be effectively used to improve the operational efficacy which can be used to notify the public about the services like, water, power, sewer etc without any hassles.