The Impact of the Internet of Things (IoT)
Information and knowledge are the gateway to improvement. The Internet of Things (IoT) enables the gathering of this information and knowledge to optimize phones, cars, factories, cities, and more. By leveraging IoT technology, every aspect of human life can become more efficient, sustainable, simple, and effective. IoT enables this data and information collection, as well as offering a way to implement actions and changes based on it. IoT is impacting and being implemented in five major areas; home, retail, industry, cities, and healthcare.
The home is becoming much more than what it used to be. While homes will always be a place to live, they are evolving to accommodate much more - from a remote workplace, virtual doctor’s office, drop-off location for deliveries, and more. Digital services are immersed into homes, bridging the gap with the outside world, and everything is controlled with digital interfaces and devices. With the increasing importance of homes, seamless connectivity becomes paramount, and robust security is critical to maintaining safety where you live. These seamless connections and digital interfaces are all driven by the IoT and the growth of IoT devices within the home. In addition, because homes are a large contributor to energy consumption, as applications such as lighting and HVAC become connected, the IoT helps drive a more sustainable home and world. Explore our Smart Home applications.
In retail, online shopping and surging global e-commerce are challenging retailers and store operators. Why bother visiting a store when you have any product just a click away with a worldwide next-day delivery? Retailers need to re-capture consumer attention through new omnichannel strategies and a seamless digital shopping experience delivered to customers in the physical world. By offering a more tailored and engaging experience, as well as using data collected in the store to improve the experience of the shopper, retailers are revising and improving the shopping experience through the IoT. Explore our Retail applications.
Industrial companies across all sectors are affected by rapidly growing global competition. They need to increase production and efficiency to meet the demands of unique requirements and lower prices, while also balancing their global footprint. Navigating the changing industrial landscape requires capturing new business opportunities while operating according to sustainability standards. To stay competitive, suppliers must make better products, drive costs down and serve customers better by delivering things faster. Companies leveraging IoT connectivity are the ones that will thrive in the new Industry 4.0 by improving processes, evaluating areas of improvement, and even predicting faults in processes and machines and servicing them before downtime occurs. Explore our Industrial applications.
Cities cover only 2% of the earth’s landmass but will soon inhabit 70% of the population. Due to rapidly intensifying urbanization, cities have a critical role in solving massive global challenges, such as climate change. This entails unprecedented changes in cities, affecting municipal infrastructure, traffic and waste management, energy, and utility production and distribution. According to the World Bank, public lighting alone constitutes up to 65% of a city’s electricity costs and 10% of its overall budget. Cities investing in IoT infrastructure drive efficiencies and create safer, better, more sustainable places to live and thrive. Explore our Smart Cities applications.
The healthcare sector world around is seeking new cost-efficient ways to organize medical processes. How to tend, diagnose, triage, treat, and monitor the growing and aging population more efficiently? Hospitals are utilizing the IoT and transitioning the less critical care out to more efficient outpatient care channels. The costly inpatient services are gradually changed into remote medical applications via the IoT. This transformation will be a vast undertaking requiring new skills, processes, and technologies.