You have probably heard about “Internet of Things” in some post, a blog or an advertisement but have you tried learning more about this subject. As per Business Insider, IOT refers to the connection of devices (other than typical fares like computers and smartphones) to the Internet, Cars, kitchen appliances and even heart monitors can be all connected through the IOT. The new wave of connectivity today had extended beyond smartphones, PC or laptops. Now it’s heading towards connected cars, smart wearables, smart homes, cities and even healthcare. If a reporter by Gartner is to be believed, the IOT could reach a whopping 20.6 billion by 2020. Some amazing new tech which we can expect to hit the market in the coming year as per the takeaways from annual Consumer Electronics Show (CES)
Connected devices will be the future for mankind helping us transition into a fully automated world. Below given is a list of some applications that are changing the face of businesses today:
The automobile is slowly realizing the potential of IoT within the industry and is now becoming loaded with smart sensors. Companies like Tesla, GM and Mercedes are using third party solutions to make the customer’s car smarter. One can now be instantly connected with various mobile applications like detection of car location, opening, and closing car doors, alarm systems etc. The automobile industry is already paving its way into making self-driven cars a reality. The biggest examples are the GE Evolution Series Tier 4 Locomotive comes with 250 sensors which measure over 150,000 data points per minute which means that your car can now be controlled with information from your routes and other car stats that can be stored safely in the cloud drives. This will come handy in transport and logistics businesses who can now share collective information for their parcels and packages with their drivers.
The healthcare industry is the next venture that will benefit greatly from the IOT revolution. Companies today like Future Path Medical have developed a smart fluid management solution device known as Urosense, that will help measure the body’s core temperature and urine output of patients. The monitoring of such health aspects will be useful in combating early signs of diabetes, prostate cancer, heart failure, and sepsis. Urosense is capable of reporting data directly to nursing stations anywhere. Ambulance services and mobile clinics can make use of such medical data and provide early treatment to patients. Hospitals are also to benefit largely from this tech. Another company Philips is also making significant strides in the area with The Medication Dispensing Service proving to be one of the successful IOT healthcare applications that focuses on elderly patients who find it difficult to keep a track of their medication dosage. The Internet of Things is making many such opportunities available for businesses to tap into.
Smart farming has been overlooked when it comes to the business cases for IoT solutions but this sector can benefit from many such changes. Some have already ventured in this field with distributed networks of smart sensors that measure various natural conditions such as air temperature, humidity, soil quality and weather changes. Some companies are also venturing to automate irrigating systems. One such example is the Blossom devices a smart watering system that makes use of variables like weather data and forecasts to create an optimal watering schedule for yards and gardens. The app comprises of smart Bluetooth powered controllers and a standard mobile app that is easy to setup, use and manage. The IOT of things can have a major impact in the agriculture industry in the coming years.
- Retail industry:
The retail industry is going through significant changes and the potential of IoT is enormous here. Could you imagine apps that can notify you with a shortage of supplies in your home and order them all at once as per your preference? Proximity-based advertising models amongst businesses are also becoming increasingly popular nowadays. One such example is the TCI”s smart retail solution that helps shoppers costly mistakes and maximizes resources with automatic complex reactions that are taken from multiple devices collecting important data. Smartphones will help retailers connect with their consumers even outside of shops by communicating via Beacon technology. Retailers will be able to track consumer’s path via a store and help them improve store layouts and place premium products in stores that are more frequented by customers. Changes will be more evident in the coming years in this industry and for businesses.
- Smart homes:
Homes of the 21st century are completely going through a makeover. More companies today are active in the smart home market than any other applications in the IOT field. The total funding for smart homes startup currently exceeds $2.5 bn worldwide. These names include big companies like Belkin, Haier, Philips, AlertMe. This is bound to grow further in the coming years.
So, given above are the 5 big applications for the Internet of Things that can be used by businesses. Which category does your business fall in?