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Which are the Top Industries that are Going to Benefit From IoT in 2020

Tips to Get Benefit from IoT

By muneebqadarPublished 4 years ago 5 min read
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Which Are the Top Industries That Are Going to Benefit From IoT in 2020

We have seen an interesting potential in connected devices and the capability the hold to interconnect users with everything all around them. It’s why most technologically advanced firms are considering to make investments in this technology, the very one we term as the “Internet of Things (IoT).”

As far as it is known, in the coming days, there will hardly be any industry which will remain untouched by this advancing phenomenology. It will push us forward into a new world where we will explore new horizons, learn new things, and share new first-hand experiences in building such products.

We have seen people now adopting newer technologies. After all, it has all bubbled down to personalized experiences. As long as your product is delivering one to its customer, making them feel special, your innovation is going to become a success story. Innovations can have great impacts, but only when they are put to proper use. IoT technologies have the potential to become that proper use as it offers less operational costs, increased business efficiency, and altogether creates additional revenue streams.

Today, I am going to discuss some of the top industries where IoT is laying its siege in the future days.

Field # 1: Home Automation

Look around! What do you see? I am sure you can find some interesting smart appliances, smart lighting systems, high-end smart security, environmental control units, etc. With successful home-automation, you can now control everything (from your smart TV to refrigeration units, from parking shutters to your vehicle) all you need is a smartphone with a steady Internet connection. Today, home automation has become one of the leaders in the ever-growing sphere of connective technology.

Take, for example, Nest.

Create your own wonderfully connected homestead. From Thermostats for temperature control to indoor cameras and alarm systems, Nest allows you to interconnect and control just about everything.

Here’s what happens! The thermostat understands your temperature preferences and then automatically adjusts the temperature accordingly. While the thermostats regulate the temperature saving up on electricity, the outdoor/indoor cameras and alarms make sure that you, yourself stay safe and secure.

Field # 2: Healthcare & Fitness

We are now seeing many wearables emerging into the IoT market. Some of these wearable devices are powered by leading technology giants including big names such as Apple, Samsung, Jawbone, and Misfit.

Today, we can find many devices which are specifically designed to monitor a person’s heart rate, measure his/her calorie intake, check on them whether they are asleep or awake, and do a whole lot more.

Some wearables even allow users to interact with third-party apps and share information about the user’s health condition with them. For instance, Kardia is an IoT based app that makes use of the IoT sensor built inside an Apple Watch strap. The app monitors the wearing person’s heart rate. It works on a tracking algorithm which in case detects any sudden emergence of arrhythmia, it prompts the user on mobile.

There are many similar apps that allow users to monitor blood pressures, body temperature, movement and much more. There are also smart medication dispensers such as HERO for elderly treatments.

Field # 3: Automotive Industry

Today, car manufacturing industries are loading up their vehicles with ultra smart sensors. While most of these smart sensors are installed by car manufacturers only, some of these solutions are also provided by a third-party solution with the intention to make your car, “smart.” One of these many solutions is none other but the Cobra Code - a remote-controlled system to monitor your car movement.

This mobile application is remarkably special because it allows you to control multiple functions of the car such as controlling the lock/unlock system of the doors, track and analyze engine metrics, optimize the alarm system and help the user detect the car’s location and find the best routes to destinations.

The IoT technology is not only limited to just self-driven cars but it is also expanding to other types of locomotives. A great example of such initiatives in the latest GE Evolution. These are Series Tier 4 Locomotives which are loaded with around 250 sensors covering 150,000 data points per minute.

Field # 4: Smart Grid Electric Systems

One other technology which mimics the best application of IoT technology is the application of a smart grid system. A smart grid system is a specific type of electric grid system where the system leverages the power of smart meters, smart appliances, renewable energy resources, and other energy efficient sources.

By automating the electricity supply around the system, governments are more inclined at improving the efficiency of energy delivery on a commercial and domestic level. With Smart Grid Electric Systems, you can have a much stable electricity distribution process. According to keyword researchers, Smart Grid has around 41,000 monthly Google searches on average.

It shows that Smart Grid systems are a promising technology for individuals in the near future.

Field # 5: Smart Retailing

Many retailers have introduced IoT based solutions in the form of smart applications which are enabled to help improve store operations, increase the number of purchases, reduce theft incidents and perform effective inventory management.

For example, IoT Smart Retail is a wonderful app which allows users to manage and sell products by leveraging the power of IoT. IoT Smart Retails combines hardware which comes with real-time digital analytics. It helps retailers maintain better inventory and specify when a product goes out-of-stock. It also increases the operational efficiency of running an online store.

Concluding Thoughts

IoT is a transformative technology which promises a more interconnected future for the world. Since it allows environment friendly machines to understand and adapt to the changing requirements of its users, it is perceived as one of the most remarkable technologies of the coming days.

According to an IoT specialist Muneeb Qadar working at a web design company in Dubai,

“Today, IoT has transformed every other physical object within the ecosystem and made it more interconnected. A decade ago, who could’ve thought that refrigeration units or our automotive vehicles can understand our preferences. Today, we see more and more digital products entering the digital fold every day. So, it won’t be long that the IoT industry is going to enter the multi-trillion dollar sphere.”

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