2020 June 23 Archive - EXEIdeas – Let's Your Mind Rock

Internet of Things (IoT) technology represents the next phase of digital evolution. The technology has made it possible to bring the physical devices to the digital ramp. It is being expected that by the end of 2020 there will be 20.3 billion smart IoT devices. A news report from Business Insider Intelligence states that the expected investment companies willing to invest in the smart IoT technology will reach up to $15 trillion by the end of 2025.A humongous amount of data is produced every-day. To collect this data, it requires a strong ecosystem of connected devices that can communicate and transfer data. And, smart IoT technology is the solution to this problem. The industries working on this emerging technology are evolving. The application of the Internet of Things technology has made its presence in various industries and the results are amazing. The smart IoT solutions for industrial and day to day problem solving are quite efficient and are being accepted worldwide.Stated below are some real-world examples of IoT application.1.) Smart IoT Sensors:We all are familiar with the functioning of sensors but in the real world, how IoT sensors are different?Smart IoT sensors are different from simple sensors as these can collect real-time data and can transfer this data to connected devices. The IoT sensors allow seamless control over data and allow businesses for predictive maintenance, enhanced efficiency, and reduced costs. IoT sensors are being used for weather monitoring, flood monitoring, waste collection, blood pressure monitoring, etc.2.) Smart IoT For Supply Chain Management:The idea of leveraging smart IoT solutions to supply chain management comes from the fact that the production of anything follows a series of links. Using a network of smart IoT sensors, the much-needed link in the supply chain between the physical real-world and the real-world of information and data is rooted. Smart IoT in supply chain management helps in tracking parcels and monitoring inventory. Real-time data can be analyzed to track the safe and secure delivery and maintenance of the products until the last mile drop.3.) Smart IoT In Vehicles:The future belongs to autonomous vehicles. The analyst expects that 90% of Automobiles will connect to the Internet by 2020. PWC research estimates that the automotive industry spent around $46 billion on research and development of self-driving cars in 2015 alone. The autonomous vehicles are still in their test phase and have time before they touch the highway. Meanwhile, the Automobile industry is incorporating smart IoT technology features. Smart IoT sensors are being used to send mechanical condition data to manufacturers to ensure on-time repair and maintenance of the vehicle. The modern cars provide as much connectivity and level of comfort as homes.4.) Smart IoT In Healthcare:The application of the Internet of Things in healthcare comes with unsung advantages. As a result, the demand for smart IoT based healthcare devices will increase in the future. Some major advantages of the Internet of Things technology in healthcare are:Improved treatment: monitoring the patient’s condition in real-time helps physicians to make informed decisions based on recorded data.Faster disease diagnosis: using IoT based health devices to track patient’s health helps the physician to diagnose the disease at an early stage.Cost reductions: monitoring real-time health data gives an insight into physical health conditions. Hence, patients do not need to unnecessarily visit doctors.Reduced error: the data generated through IoT based medical devices not only help in making effective decisions, but it also helps in smooth healthcare operations with reduced errors.Smart IoT devices are making sound presence and having an impact on the world’s network infrastructure, and this influence is going to increase in the upcoming time. By considering the impact of the Internet of Things technology on the real world, organizations should start thinking for a new business plan to take advantage of the tremendous opportunities.About the Author:I am Shashank Gahlot, A passionate technology writer currently working with PureSoftware. I have been a technology writer for the past 3 years & I have written for many firms related to this field, I have been fascinated with technology all my life. My keen interest lies in the emerging technologies that can change the future like RPA, IoT, Machine Learning & much more. I am a Techno-freak, who loves to explore and write about Information Technology.Find Me On Facebook | Twitter | LinkedIn