As technology continues to grow and evolve, so does the way businesses run their operations. One of the most impactful technological advances for businesses in recent years has been the Internet of Things (IoT), which refers to the rapidly growing network of connected objects able to collect and exchange data using embedded sensors.
Internet of Things devices include kitchen appliances, cars, thermostats, and much more!
Continue reading to learn why IoT is important, how it works, how it differentiates from Industrial IoT, and how industries are using IoT!
Why IoT Is Important
Thanks to IoT, astonishing amounts of data can now be collected from a variety of devices in real time. This network facilitates communication between devices and the cloud, and between the devices themselves.
From everyday household objects to industrial machinery, IoT makes seamless communication between people, processes, and things possible.
How IoT Works
There are three components to an IoT system.
- A smart device that has been given computing capabilities. It collects data and then communicates this data over the internet, to and from its IoT application.
- An IoT application, which uses machine learning or artificial intelligence (AI) to analyze this data and make informed decisions.
- A graphical user interface, such as a mobile app that can be used to register and control the smart device.
Software as a Service (SaaS) is a cloud-based service that provides users with software applications that can be used on demand. As such, businesses can use SaaS for IoT management.
The Benefits of IoT
The Spring 2023 IoT Analytics report shows that:
● there were 14.3 billion active endpoints in 2022,
● this number is expected to increase to 16.7 billion active endpoints in 2023,
● and by 2027, there will likely be more than 29 billion.
As IoT gains in popularity, businesses realize the immense benefits of IoT. This technology allows businesses to create new business models and revenue streams, derive data-driven insights from interconnected devices, and increase the efficiency and productivity of their operations.
The Difference Between IoT and IIoT
Whereas IoT focuses on general applications, Industrial IoT (IIoT) is a subset that focuses on connecting machines and devices in sectors such as oil and gas, utilities, and manufacturing. IIoT provides insights on supply chain management, logistics, and the production process.
Industries Using IoT
Here are just some industries that are using IoT!
Manufacturing
The manufacturing industry uses production-line monitoring to enable preventive maintenance. With the help of sensor alerts, manufacturers can check equipment for accuracy or remove it from production. Predicting machine failure before it happens reduces operating costs and unplanned downtime.
Automotive
The integration of IoT technologies in the automotive industry already brought connected cars and smart cars. Now there are self-driving cars that can assist with driving, braking, parking, changing lanes, and more.
Plus, predictive maintenance notifies the driver of any issues and advises them of potential services and repairs.
Logistics
There are several applications used by the logistics industry.
IoT technology can be used for inventory management. For instance, RFID tags can track the location and inventory levels of products in real time, helping to improve forecasting and optimize stock levels.
There’s also IoT-enabled fleet management, which can offer real time vehicle location, weight monitoring for trucks and trailers, and the vehicle’s current speed and status. These solutions can optimize routes and assist in monitoring drivers should they engage in unsafe driving practices.
Retail
IoT in the retail industry can automate inventory. When inventory levels reach a certain threshold, IoT devices can automatically replenish orders. This solves issues like surplus stock or stock shortages.
Harness the Power of IoT for Your Business!
When you’re ready to take advantage of the Internet of Things to elevate your business success, reach out to CC3 Solutions. We have the mobile devices and applications to help you reach your fullest potential.
As your trusted single-source solution provider, we make it easy to source and implement new solutions and stay ahead of the technology curve. We procure mobile devices, deploy them from our warehouse, and provide ongoing service and support as needed. IoT is within your reach. Contact us today to get started!