Industry 4.0, the latest wave of industrial transformation, is paving the way for the digital transformation of companies, cities, and society as a whole. IoT (Internet of Things) is leading this entire industrial revolution. IoT is changing the ways we work, live, and travel. IoT market touched $100 billion in revenue in 2017. It is estimated to grow from $212 billion in 2019 to $1.6 trillion by 2025. The potential in IoT is the reason every company leveraging technology is planning to hire an IOT developer immediately. IoT is the buzzword not only in the IT industry but in various sectors. The blog post exhibits the key sectors having potential IoT applications but let us first try to understand the basics of IoT.
IoT – A Preamble
Internet of Things (IoT) is nothing but things or objects connected to the omnipresent internet. The things now can send or receive information through the internet. This capability makes it a useful concept, especially in remote areas or extreme climate conditions. The things in IoT are called “Smart” as they can now share information about themselves or the environment. Imagine a freeze that automatically places an order of eggs when eggs are consumed. The things can either pass the information to another thing or a computer for necessary action. There are various use cases of IoT across verticals, asset tracking being the universal one. One can track an object or a pet using this application. Let us look at the sectors having potential IoT use cases that can liberalize the way these industries are functioning.
Healthcare is the sector expected to gain maximal benefit from the IoT. Fitness trackers are already the talk of the town. These fitness trackers, enabled with IoT can be used for post-surgery patient monitoring. This includes passing on critical health parameters to the nearby medical facility and calling the ambulance automatically in case of abnormal readings. IoT and machine learning can predict the probable time of a heart attack, initiating the need for preventive care. The IoT-laced smart baby clothing can monitor the temperature and respiration level of a baby. The smart helmets in injury-prone sports can analyze the impact and intimate the medical team. There are various IoT innovations applicable in the Healthcare sector that can improve the productivity of the medical fraternity and cut down costs significantly if one hires an expert IoT developer with sufficient domain knowledge.
IoT-enabled cars can connect themselves to the nearby smart parking lot and book a slot for themselves. They can pass on qualitative information to their manufacturers to improve vehicle functioning and safety. These cars can alert the owner of the car about a scheduled service or remind them about the need for an oil change. These cars can prevent accidents from happening by judging the speed and their distance from other vehicles. These cars can alert a malfunctioned part to the owner. These cars can suggest possible driver routes with minimal traffic. The IoT has been at the forefront of the realisation of autonomous cars. The IoT software in these cars can automatically update itself, keeping it abreast of the latest features incorporated. These IoT cars, in the long run, would be the key to smart traffic management.
Smart Home Solutions
IoT devices are an integral part of smart homes wherein the electronic devices automatically turn themselves off upon sensing the environment. Imagine the window curtain automatically opening up during daytime and the lights automatically turning off when no one is around to save energy costs. The doors can be remotely operated in case of an unexpected guest at home. An alert is automatically sent on the owner’s mobile if someone tries to enter the house. The automatic sprinkler system automatically turns off giving a sufficient amount of water to your garden. One can control the environment of wine cellars from a remote location. There are endless applications of IoT in the smart home sector, including gauging structural damage in buildings, bridges, etc. These applications emphasize the need to hire Internet of things developers in this sector.
Supply Chain & Logistics
There are numerous uses of IoT in the area of supply chain. Various studies have proved the importance of a proper supply chain management system to enhance profitability and cut down expenses. IoT devices can track an asset in transit or at a warehouse, enumerating it precisely. This gives an accurate timeline for reordering to the business cutting down the inventory carrying costs substantially. Moreover, the products requiring sophisticated handling, e.g., a specific temperature or pressure range, can be managed with the help of IoT sensors. This can reduce spoilage and bottlenecks in the distribution network to improve. Due to these factors, there is a mad scramble to include an IoT developer for hire on the company’s payroll.
There are various IoT applications in diverse sectors, including smart homes, smart cities, driverless cars, preventive healthcare, agriculture, etc. Various startups are looking to hire an IOT developer in their team to explore this genre. Although it is a relatively new technology, organizations have welcomed IoT with open hands. IoT is projected to be an integral part of human life in the coming years. To conclude, the sectors that plan to invest in IoT could become the sunshine sectors of the Indian economy.
Frequently Asked Questions (FAQs)
I am running a mid-sized retail business. Is IoT beneficial for me?
There are numerous applications of IoT in the retail sector, e.g., cashier-less payments, movement tracking systems, inventory management, personalized marketing tools, etc.
How do I know that my data is secure if I use an IoT system?
We make sure that the communication between the IoT system and the IoT server is encrypted. We also ensure the safety of confidential data to protect the privacy of our customers.
Is an IoT system cost-effective in a real-time scenario?
A proper IoT system increases the business’s profit by optimizing costs and minimizing machines’ downtime. It also enhances the customer experience by delivering customized messages
What is the cost of developing an IoT-enabled system?
A simple IoT app can be developed on a meager budget of $30000. On the other hand, the minimum cost of an advanced IoT application commences at $50000.