Manufacturing businesses worldwide have invested heavily in IoT to monitor equipment and assets to increase efficiency and productivity.
FREMONT, CA: Data is generated in almost every part of life, and it is captured, shared, and monitored to offer novel insights, increase efficiency, and help businesses make educated decisions. Now, business leaders see the value of the Internet of Things in their organizations.
IoT is used in healthcare, energy, automotive, manufacturing, and agriculture and has various applications such as air tracks, doorbell cameras and security systems, thermostats, and many others. The IoT market will continue to develop every year as more businesses adopt the Internet of Things.
HOW ARE BUSINESSES ADOPTING IOT IN MAJOR AREAS?
Manufacturing, logistics, oil and gas, transportation, energy, mining, aviation, and other industries have benefited greatly from the Internet of Things. So much so that the fourth industrial revolution has begun, signalling a new stage in the organization and management of the industrial value chain.
The fourth industrial revolution is based on cyber-physical systems, sometimes called smart machines (Industry 4.0). By the end of 2021, it is expected that 94 percent of organizations will be using IoT.
Let’s have a look at how Industrial IoT (IIoT) is used in different industries.
Security is a significant issue in the financial and banking sectors, so they depend significantly on networks of smart cameras and sensors. The most important objective for organizations in this industry is to increase network connectivity. Consumers are increasingly used to controlling their transactions through different linked devices, thus it not only improves security but also delivers better service to them.
IoT in healthcare is extensive, and investment in IoT solutions in this sector will expand at the fastest rate. The technology can even be used to monitor patients’ health, know where they are at all times, track and solve equipment issues, and many other things.
The transportation sector has made significant investments in IoT technologies. Rising vehicle sensor counts can help schedule maintenance, improve fuel efficiency, maintain driver safety, and track driving behavior for insurance purposes. Under high acceleration conditions, digital recorders are configured to take pictures and store them in the cloud, potentially resulting in severe mishaps.