IoT is what happens when you take Sci-Fi seriously.
Gone are the days when Sci-Fi remained fiction. Technology has grown leaps and bounds to provide consumers with a system that harnesses your creativity in an almost magical way.
A few decades ago, it was difficult to imagine that companies would develop watches having all the functionalities of smartphones. Now, however, we’ve developed watches which are a lot more than just smart. While Apple popularized smartwatches with Apple Watch, the first smartwatch which had all the functionalities of a smartphone was TrueSmart. Release in 2013 by a startup called Omate, TrueSmart started a revolution in the mobility industry. Soon we had Samsung, Sony and Apple coming out with their own smartwatches, each having some distinct features that defined them.
Smartwatches are a small but important part of IoT. The range of customers smartwatches serve is pretty vast. On the high end, it serves customers who are willing to spend 109,995 USD to 114,995 USD for Brikk Lux Watch Omni, and on the affordable end, it serves customers who can only shell out 300 USD for a Ticwatch 2. And we have only discussed smartwatches so far. There’s a lot more to wearable technology than just smartwatches.
IoT encompasses smart homes, smart cities, smart grids, smart farms, smart retail and supply chains – basically, smart everything! Roads are being made safer everyday with the help of connected cars, edge computing is making factories more efficient than ever; there’s a lot that’s being done in the field of IoT. But the pace of development is slow. So why should one invest in IoT? Here’s why investing in IoT is perhaps the best decision you’ll ever take:
There’s a lot of Scope for Innovation
According to EE Times, IoT wouldn’t hit the mark of a billion units per year until 2019. And while it sounds counter-intuitive, the pace of development is exactly what it needs to be. The current pace of growth of IoT owes to the fact that it is only being used people who are open to experiments. Sadly there aren’t many who are open to experiments. But since the number of people working on IoT is less, there is a lot of scope for innovation.
Everything is Going Digital
Everything around you is slowly becoming digital. Remember a game you played when you were a child? Chances are that you would find it in the app store. Remember using whiteboards? Well, it has been replaced by smart boards in a lot places. These smart boards have the ability to store what you have written on them into the memory so that if you need to refer to what you had written earlier, you can do in an instant.
Since everything is going digital, everything generates data. If this data can be accessed everywhere, it is beneficial since this data can be the key to a lot of important insights. This can only be possible if the devices are connected which is exactly what Internet of Things (IoT) is.
People are Already Investing
The manufacturing industry is using IoT for collecting data using sensors, sharing information with the help of sensors, and embedding sensors into warehouse shelves and factory machines to track resources in realtime. This makes the work more efficient while keeping the costs low.
The transportation industry is using IoT for making roads safer. While self-driving cars haven’t made it into the mainstream yet, the technology is more advanced now than ever. The delivery companies across the globe can now track their fleet easily using GPS. For keeping roads safe, we can monitor roadways using sensors.
The healthcare industry has been one of the first to adapt IoT. They use various wearable devices which help in monitoring exercise, sleep and other health related habits. And this is barely scratching the surface. IoT goes way beyond the aforementioned. Electronic records, monitoring devices and a hoard of other smart accessories are helping save a lot of precious lives all around the world.
The utilities industry has come up with a number of ways with which it uses the technology to its advantage. Smart meters collect data and analyses it to let the users know how much energy they use on a daily basis. It also helps them in managing the same. Sensors in windmills tracks data and schedules downtime using predictive modeling to increase the efficiency of energy usage.
The retail industry is one of the industries which benefited the most from IoT. Stores use IoT to track and update inventory. And that isn’t all. IoT helps them improve the security and deliver a highly personalized shopping experience to the customers by analyzing the data collected with the help of cameras and sensors.
If you’re considering investing in IoT and have an idea, you can always reach out to BrainMobi, one of the best IoT app development companies. The IoT solutions we deliver are backed by a lot of research and the experience of 60+ mobility experts. Our IoT solutions have sans-pareil quality and are loved by all. So send us your requirements at [email protected] for a free quote on your idea!