Learning from History…
People who have invested in the Internet and related services like browser and protocols, in the early 90s, have emerged as the Industry leaders of today. The history is repeating itself and this time the catalyst is ‘IoT’ or the Internet of Things.
Did you know that McKinsey Global Institute has made a data-based prediction that the IoT’s effect on the global economy will that be of $11 trillion by the year 2025?
Many other research modules have come up with varied figures, but all are agreeing to the fact that the industry of IoT is soon going to be a huge part of the global economy as well as the daily life of people. If anything, this pace of growth will soon witness acceleration that will run alongside the progress in other technologies like AI and robotics.
But that’s all about the future, which although is approaching us at a rapid pace, is still among the many of the distant possibilities. And this is why here I am mentioning some of the contemporary benefits that make investing in IoT a beneficial scheme in the now.
Effectiveness of Real-Time Action
Allowing people to make a real-time decision, while being physically away is perhaps the foremost benefit that IoT has at present. Considered as one of the first IoT devices, ATM has already proved how this added advantage can become an inevitable requirement as things advances in future.
Optimized and Automated Processes
Having the devices connected to the same source will reduce the requirement of human intervention, making it possible to make the system largely automated, optimizing all its processes.
Monitoring devices in real-time
With growing need of engagement in various places, it is becoming extremely important for many people to be able to control devices remotely while taking in the real-time data from far-away devices.
Optimized use of resources
IoT application will allow the devices to interact with each other, without having to wait for any input from other sources. This will largely amplify the efficiency of their processes, making the whole system more optimized.
Personalization at it apex
IoT home solutions are the best example of how the application of this technology may ultimately result in a more personalized environment. Imagine a home where the porch light turns on as soon as an authorized car enters the driveway. Or, where the coffee starts brewing when a certain family member enters through the front gate.
IoT is still in a Neoteric stage and a lot of advancements in it are easily predictable. This emerging technology carries a huge potential for bringing new business opportunities. Development of fresh and compatible devices, development and maintenance of the network, cloud network maintenance, data management, and security application are only a few of the many exemplary business opportunities that enter into the image when we talk about the future of IoT.