The Internet of Things is quickly emerging as a stable ecosystem of connected devices; it has a great potential to contribute significantly to business growth in the future across varied industry verticals. From cost-saving efforts for better asset utilization and improving operational efficiency to boosting productivity, benefits of IoT – driven innovation are worth mentioning. It will increase ROI, optimize marketing efforts, and create additional revenue sources giving rise to new business opportunities.
What drives IoT?
Factors include huge volume of smart devices, combination of low-cost technology, huge streams of data, and common connectivity. Dynamic trends in each industry vertical will contribute to the growth of IoT ecosystem. Here are some of the common lifestyle changes that one will experience due to the advent of Internet of Things.
- Vehicle maintenance: You can maintain your car efficiently with integration of connected devices without missing a single oil change. The smart car will contact a mechanic automatically during the period of annual maintenance or if tire pressure is low; appointments will be confirmed in your calendar according to a suitable time slot with a single click.
- Morning routine: You will never be late to office now as you will be notified about weather conditions and traffic as soon as your alarm clock rings. The alarm will ring early to make you aware about any mishap or construction on your way to office; alternate routes will be displayed on your dashboard.
- Health Management: Wearable technology attracts great attention in the field of IoT. Many products having sleek designs offer integration of multiple wearable devices. Monitoring workout activities to hearing aids to sleep patterns, sophisticated wearable devices are being developed that connects to all user accounts over social media and track high-quality data.
- Monitor your wards: Parents can avail several benefits from Internet of Things. Using a smartphone, parents will monitor their child’s whereabouts, temperature, and overall health conditions. Infants’ breathing process can also be monitored on a smartphone.
- Handling grocery lists: Smart refrigerators can alert the user during low storage of supplies for milk, eggs etc.; the items will be automatically populated on the user’s grocery list. Grocery stores will send reminders to prepare lists based on historical shopping lists, past buying behaviour, and shopping trends. Similarly, when you are visiting a store, users will receive reminders about the missed items in order to avoid a second trip.
- Smooth navigation: You will feel safer while driving. Real-time traffic alerts will serve as a caution. Traffic lights will be automated to adjust when an emergency vehicle approaches. Weather conditions will activate road sensors to monitor appropriate speed limits that will avoid road accidents. Car dashboards will receive information about alternate routes in case of mishaps or unsafe driving conditions.
Emergence & Growth of Internet of Things
Internet of Things is a broad topic and complex to understand. Not even a single organization has the ability to become the market leader of connected devices. It requires multi-dimensional collaboration to achieve organizational success. Integration of markets, industries, pre-standards research, implementation strategies, and formal practices development is the key to address global emergence of IoT efficiently. All possible solutions must be looked at to avail monumental benefits of making connected lifestyle a reality.