With IoT redefining the wearable & devices market, check out why it will rule out all to be the next face of the tech revolution
The IoT is one of the most distinguished tech trends that has emerged in the last few years. And as we are moving towards a new year, it is the perfect time for the planning and predictions, and this year, creating strategies in the midst of a predicted second wave of the global pandemic and that will make the process for businesses even more challenging.
Being a lot of companies under financial pressure, does it sound feasible to invest in innovative connected products? How it would turn out? Will that slow down speed or increase the pace? What trends related to COVID-19 and the geo-social environment should companies which delivers IoT technologies pay attention to as they put together their game plans for the upcoming year?
AvnerZiv, CEO of Cloud of Things said,
“IoT is a magnificent revolution, but lot of the major players that are the subject of this revolution can’t afford to buy a ticket to get in.There is a huge number of Mid-Tech Companies that find it impossible to take this business initiative based on a reasonable ROI. We are out there to help these companies get the VIP ticket they deserve. There are big and new problem to solve, and our clients and partners are extremely focused on identifying and developing approaches to those problems in a cost-effective way.”
So let’s have a look ahead to 2021, and some of the ways we can expect to see such trends playing their role.
- What can IoT do for Healthcare?
Before Internet of Things, patients’ interactions with doctors were limited to visits, there were no texts or other way of online communications, there was no way, doctors or hospitals could monitor patients’ health continuously and recommend accordingly.IoT-enabled devices have made remote monitoring in the healthcare sector possible, helps in keeping patients safe and healthy. It empowers physicians to deliver proper care and on time. It increases patient engagement and satisfaction as interactions with doctor is much easier and more efficient.IoT-enabled medical devices have even reduced healthcare costs significantly.
- Productive Work From Home
Recent research by Vodafone says that, “84% businesses that had begun to adopt IoT, found that they had a positive impact on their ability to function during the pandemic.” The survey was carried out to understand how businesses were adapting during the uncertainty created by the pandemic.
IoT has enabled workers to move to home-based offices and continues to work as the pandemic goes on. But to be true, we all could function well from home and maintain physical separation – by using online collaboration tools.
Companies are investing in IoT to remotely monitor well and reduce costs by keeping oil in the ground until prices improve. Real-time processing at the edge with remote orchestration increases operational efficiency and eliminates costly truck rolls to sites.
- How IoT is helping in retail?
Like many industries, retails is embracing IoT transformation. The expansion of IoT technology in retails is expected to reach more than $35 billion by 2020. Retailers are taking help of IoT technology to enhance the customer experience, reduce the costs, drive growth and improve overall performance. There are multiple ways – in which the retail industry can use IoT technology. Like, sensors are being used to monitor customer satisfaction, how it provides supply chain insights, how it monitors food safety, and track assets.
Conclusion
There are approximately 7 billion IoT-connected devices today, according to the research report. And the total is projected to reach almost 25 billion by 2021.
There are high chances, several of your devices or objects in your home or office are already connected to IoT but it might not click you. Having a smart TV or an Amazon Kindle or Fire, your devices will be connected to the Internet – passing the data without the need for human interaction.
Your Fitbit or Apple Smart Watch is a great example of IoT tech, suddenly your watch is helping you stay healthy and fit. So with the help of IoT – all your mundane objects or devices suddenly become interesting. It helps you to gather insights and even that can be used to train artificial intelligence algorithms.
