You’ve probably heard of “The Internet of Things”, or IoT for short. But what exactly is this relatively new phenomenon? Simply put, the Internet of Things is what it sounds like ─ an “interconnection of everyday physical objects with the internet”.
This symbiotic nature of physical object plus internet connection allows for the collection and exchange of data, and finally, action based on that data, without need for human intervention. In many cases, several IoT devices (think smart speakers) can even link together.
Smart homes are just one example of IoT technology in action. Here are several others more germane to industry and business ─ including, perhaps, yours.
6 Ways the Internet of Things is Helping Industry & Business
While IoT can be used on a personal level, there are a number of areas in which it may be able to help your business organization, be it a startup or an enterprise. In fact, according to Frost & Sullivan, here are six of the top Internet of Things (IoT) applications, listed by general category:
- Security and Surveillance
- Industrial Automation and Smart Manufacturing
- Process Automation
- Environmental, Social, and Corporate Governance (ESG)
- Advanced Measurement Infrastructure/Smart Meters
- Connected Consumer Electronics
As you can see, while consumer electronics may be used by businesses and industries, they’re far from the only IoT use case that you could utilize to improve how your business operates.
12 Specific Applications of IoT
Looking for specific IoT applications rather than categories of IoT use in industry? TechTarget offers the following as twelve of the most notable and important IoT applications and examples in business:
- Self-Driving and Connected Vehicles: Autonomous vehicles use IoT technologies like AI-enabled cameras and sensors for safe navigation, with major automotive companies and startups alike developing these innovations. The market is expected to grow significantly, with both self-driving and conventional vehicles benefiting from IoT for performance monitoring and safety.
- Logistics and Fleet Management: IoT enhances logistics with sensors and GPS for real-time vehicle tracking, route optimization, and predictive maintenance, improving operational efficiency across various industries including micromobility.
- Traffic Management: Smart traffic management systems use IoT devices like cameras and sensors integrated with road infrastructure to prevent traffic jams, accidents, and ensure smooth travel, also facilitating smart parking solutions.
- Smart Grids and Smart Meters: IoT enables two-way communication across the energy supply chain, allowing utilities to manage energy distribution more efficiently and consumers to monitor their energy use in real-time, supporting sustainability goals.
- Environmental Monitoring: IoT devices collect data on air, water, and soil quality, as well as weather conditions, aiding in natural disaster prediction, environmental protection, and business planning around environmental conditions.
- Connected Buildings and Building Security: IoT technologies make buildings smarter and safer by optimizing energy use and enhancing security through connected cameras, sensors, and smart systems for commercial and residential properties.
- Smart Cities: Integrating IoT across traffic management, smart buildings, and environmental monitoring, smart cities use comprehensive IoT ecosystems for efficient, effective, and safer urban management.
- Supply Chain Management: IoT modernizes supply chains with sensors and GPS tracking for asset visibility, condition monitoring during transport, and analytics-driven operational improvements.
- Digital Payments: IoT plays a critical role in expanding digital payment systems, especially in increasingly digitally integrated cities, enhancing convenience and security.
- Healthcare and Consumer Health and Wellness: IoT devices monitor patient health in medical settings and personal wellness through wearables, enabling real-time tracking and analysis of health data for better health outcomes.
- Predictive Maintenance: IoT sensors in various mechanical systems collect performance data to anticipate maintenance needs, preventing equipment failure and optimizing operational efficiency across numerous industries.
- Agricultural, Commercial, Industrial, and Retail Management and Operations: IoT applications span from agriculture to retail, improving production, maintenance, access control, and customer experiences through automation, real-time monitoring, and analytics.
Start Your IoT Journey Today: Explore Our IoT Software Application Solutions
See how we helped Intent Solutions™ develop a connected smart medication dispensing device here. Looking for similar results for your healthcare business? Perhaps you are in another industry, like professional services, logistics, or private equity. Get in touch with us now to see how we can help you develop custom IoT solutions for your business’ most pressing needs.
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