Less than in 20 years, the Internet of Things has become a real trend of the IT market. Today, trends in IoT inspire people to create startups, and companies with experience – to switch to new business models. The topic is being actively discussed, and thousands of specialists all over the world are constantly working on the creation and improving IoT devices.
Further, we will discuss what the Internet of Things is, what are the areas of its usage, and what advantages such technologies give businesses.
IoT is a complex of interconnected devices with unique functionality able to exchange data via the Internet without human intervention. In simple words, these are smart things, each of which is programmed to perform various actions and can be managed remotely. This is one of the few concepts in modern futurology, which ceases to be a concept and is being actively brought to life.
Today, in any sphere, from retail to oil production, we can observe the massive adoption of the latest trends in the Internet of Things devices, and the further, the more innovative solutions will appear, and the more difficult it will be for businesses to be proactive and at least one step ahead of the competitors.
According to analysts’ predictions, by the end of 2019, the amount of investment in the development of such technologies will exceed $8 trillion.
During this period, the number of connected devices worldwide will increase by about 20%, and this is not the limit.
The customer IoT will present less than half of these gadgets: smartphones, tablets, wearable fitness, and medical devices, and so on. The greater number of devices will be created to work in business and industry: a variety of sensors for equipment, terminals for payments, sensors for production and public transport, and so on.
In fact, it is almost impossible to accurately name all the ways of applying the technology, because, probably, while you are reading this sentence, the latest trends in IoT appear somewhere in the world.
Today, we are ready to take the boldest ideas, which recently seemed to be impossible, and try to implement them using the Internet of Things. Most of these ideas are not so difficult to be implemented. The question so far remains only in time, means and a team of specialists ready to help you.
Table of contents:
- IoT Business Opportunities
- Interaction with the user
- The increase of productivity and efficiency
- Remote work
- Smart jobs
- IoT by Industries
- Smart city
- Home and security
- Warehouse automation
IoT Business Opportunities
58% of business owners consider the introduction of the current trends in the Internet of Things a strategic issue for the entire company. According to IDC, over the next few years, 95% of companies will start using IoT technologies in their own projects. The reason for such attention is an excellent opportunity to improve the operational efficiency of the business.
Let’s see how businesses can benefit from these technologies today.
Optimization of the user interaction mechanisms
During the heyday of the “Internet of People” successful companies were those that could effectively gather information on the consumer behavior to further predict their desires concerning interaction with the product. Thanks to the more effective collection and analyzing the ways customer interact with smart devices, the manufacturer can quickly make changes to the product and improve the user experience.
The increase of productivity and efficiency
The use of smart devices in the production process and their integration into a single network can significantly increase the productivity of any business. Workers will be able to perform even the most ambitious tasks quickly and without mistakes. It, in turn, will entail an increase in profits. The main thing is not to forget about the timely maintenance of equipment to avoid the production downtime.
By installing smart equipment in production or any other facility, you and your employees will be able to manage their work remotely, without the need to be present in person. Such a solution is particularly beneficial for a business that does not require physical inventory. In addition, researches prove that remote employees are much more productive.
As a result of the introduction of recent trends in the Internet of Things to business processes, there is another opportunity to optimize the staff, hiring fewer people, but with higher qualifications, or training existing ones.
Along with numerous advantages, the Internet of Things technology introduces certain challenges. The primary challenge is security. Every day more and more devices are connecting to the Internet: automobiles, production equipment, numerous consumer gadgets, household appliances, medical equipment, and so on. All these devices create huge amounts of data which is later used by companies.
Often, such volumes of data become a subject of interest for black hats. Of course, all the transmitted information is encrypted, but as long as each cipher has a key, it is only a matter of time when it falls into the wrong hands. In this regard, every year more and more time and money are spent to guarantee personal data security.
IoT by Industries
Current trends in IoT has already begun to change our lives step by step. New solutions are continually emerging in the world of IoT, and specialists are working every day to implement innovative projects, for both consumers and businesses.
The worldwide distribution of the IoT projects looks as follows:
As you can see on the graph, almost a quarter of all existing projects are related to the implementation of “smart city” technologies. This includes:
- urban transport with displacement sensors;
- garbage cans with filling sensors;
- gathering data on people’s moving around the city and planning transport routes;
- video surveillance;
- various sensors for collecting big data, based on which authorities will be able to understand the future needs of the city residents better.
Most of these projects are aimed at organizing the city traffic, while researches in other areas are distributed as follows:
Home and Security
The concept of “smart home” appeared in 1985, when Unity, system controlling the security of homes, appeared. Of course, then this system had nothing in common with the recent trends in IoT. Today smart home solutions imply not only security but also:
- the climate control system’s remote management (air conditioner, fans, heaters);
- lightning (the lights turn on when a person comes home, etc);
- smart household appliances (a kettle that can be turned on via the mobile phone app, a coffee machine that starts making coffee when your alarm rings in the morning, a refrigerator that reports the absence of milk or eggs and orders food online), etc.
All these technologies already exist, but a single IoT ecosystem for connection and management of all gadgets at a time is still at the development stage.
In the list of top trends in IoT in 2019, healthcare solutions deserve a special place. Here, cutting-edge technologies directly affect people’s lives and illustrate the importance of the “Internet of Healthcare Things” as a science.
Thanks to IoT, doctors can provide help via the Internet and scientists can make breakthroughs in genetics. With the help of technology, medical workers can use a more personalized approach to analyzing a patient’s health and developing methods for diseases treatment. Today, only in EU, there are more than 11 million medical devices connected to the Internet of things. Look at the graph below to know how this number will change in 6 years.
Data from the connected devices is collected and sent to the doctor automatically, which allows not only to identify and prevent the causes of different complications but to save lives as well.
Today, in some countries the Internet of Medical Things is supported even at the State level.
The main uses of the IoT in warehouses are inventory and distribution of goods and equipment. Recent inventions in the field of the Internet of Things for warehouses provide numerous automation options and provide necessary help in these processes. Software and all the required devices are installed directly on the warehouse equipment and throughout the warehouse for tracking and collecting information. As a result, your employees will pay attention to the more critical tasks.
The massive adoption of the IoT in factories and plants allows replacing up to 30% of employees, maximizing the use of resources and several times increasing the income. Besides, you can significantly save on the maintenance and repair of equipment, because sometimes the employee does not notice minor damages. As a result, the mechanism may run out of order, and the business will incur significant losses due to downtime and expensive repairs.
The use of specific sensors allows to consistently obtain current data on the state of equipment and prevent breakages.
Work With UDTech On Your IoT Business Idea
Whichever field your business is related to, the creation and adoption of IoT trends for business are impossible without the team of knowledgeable specialists. The good news is that our team consists of strong professionals who have impressive experience in creating technologies and prototyping different devices.
Any event taking place in the world affects businesses. The emergence of new technologies and the constant growth of consumer needs always reflect on business and increase the competition in the market.
As practice shows, the introduction of the Internet of Things into business processes is a great way not only to keep your company afloat but also to make it successful, to earn customer loyalty and beat competitors.
If you already have an idea for the device to be developed, or you need to solve one of the business issues with the help of technology but do not know where to start, contact us, and we will offer a solution.
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