You can find more devices being connected to the internet in 2021 compared to people. With the rapid increase of this trend, the gap will be rising in the coming time. In 2020 4 billion internet users were there all over the world. Compared to this, the number of devices connected with IoT was 7 billion. Market reports suggest that by the end of 2021 the number of connected devices will rise to 10 billion.
Being a technology driven company we know the prospect of this platform and through our post will let you know how to derive your business benefits with its suitable utilization.
By Internet of Things or IoT we mean a network of connected devices like computers and digital machines with unique identifiers. This technology helps in transferring data from one device to the other without the need of special human to computer communication.
With respect to IoT ideas for business today, you can experience a variety of solutions that can enhance your growth trajectories along with increasing your consumer base.
Why Business Opportunities Should rely on IoT
Opportunities for your business in the spectrum of IoT are endless as it includes activities that are essential for both personal and professional lives. From banking terminals to smart home platforms this platform connects different tech based products. From the viewpoint of engineering, the era of IoT begins from that point where devices connected to the web are more than human beings.
Let us talk about some numbers to evaluate the worth of IoT with respect to the current industries. In 2020, the global market of IoT was valued at a worth of 150 billion dollars and has been estimated that by 2025 this will cross the mark of 1.5 trillion dollars.
The advancements in the spectrum of IoT is expected to bring in the desired transformation for businesses in retail and global trade, healthcare, banking etc. In 2021 for everybody on this planet 4 web connected devices will be available.
How Does IoT Impact Business
By using actuators, sensors and connectivity, individual devices and various appliances can be interconnected to ensure seamless meeting of business aims and objectives. The main purpose of this technology is to make data analysis and sharing accurate and fast. Here no manual intervention is required to execute the routine tasks and in fact the users approve all activities in advance that need to be done. By integrating IoT in the business processes, most of the companies have found to progress a lot in terms of quality and communication.
IoT Related Business Aspects for Startups
Right from knowing the market trends and practices to identifying the changes in the buying behavior from attracting customers to ensuring loyalty and satisfaction, IoT can actually serve multiple minutes tasks with utmost ease and efficiency. In fact to make your brand stand out in the current competition, incorporating IoT can be a boon.
Sectors Already Benefited Using IoT
Healthcare : This is one of the industries where IoT has made a deep impression. The number of IoT devices being used by healthcare units in 2016 have increased from 60 percent to 87 percent by the end of 2019. Developed nations like the US have always recognized the concept of automation in providing health related services as the errors associated with the human factors can be curbed effectively. Considering the prominence of IoT in healthcare, it is expected that the investment will increase to approximately 534.3 billion dollars by 2025.
From patient monitoring to maintaining transparency, from carrying out remote operations to making the correct diagnosis, IoT can facilitate various roles and responsibilities to restore patients towards a healthy lifestyle.
Manufacturing : In this sector IoT can help the business owners to connect the operational technology and IT for monitoring the product quality, managing resources located in far off areas, automating business processes etc. By applying smart sensors, manufacturing cost can be made time bound and purposeful. With timely monitoring drawbacks in the product quality and production delays can be identified aptly.
With AI on each production level and flexible production chains both efforts and time are reduced to execute the desired tasks smoothly and to ensure flexibility and quality.
Retail : The implication of IoT in retail aims in improving the customer experience along with curbing the expenses of the business owners. Automated debits from your account after the final purchase and displaying of the store information on your smartphone once you enter the shop can make the buying process convenient. Currently the worth of IoT based retail segment is valued at 140 billion dollars which is expected to reach upto 1.2 trillion dollars by 2025.
Features like offering personal discounts, payment apps and checkout systems have reflected how IoT has improved the customer experience to retain them for long.
Our Contribution in the Field of IoT Mobile App Development
IoT is the conjunction of circuits, softwares and networks. At red apple we have 10+ years of experience in delivering quality products in the fields of information technology. Enterprise operating with heavy machinery and distributed sensors systems, requires a system to scale up and ease their mode of operation. To meet the needs of those non-IoT enabled businesses, Red Apple plays a crucial role to turn their desires into reality.
IoT & Networking : Efficient communication over the network plays a key role in handshaking the hardware with software application. At RA, we have covered episodes of research on light weight to reliable network protocols.
IoT & Data Mining : Mining & warehousing the unstructured data which help IoT enabled businesses to analyze and optimize their solutions in their prospective future. Regression to convolution based prediction from sensor data & image data is our proficiency.
IoT & UI : Sensor data doesn’t speak of itself on its own. Terabytes of data generated over periods require visualization tools, where engineers and systems expert and interpret the actual meaning of the gathered data to health & operations of their systems, just from a click of a button.
IoT & Hardware : Hardware requires aesthetically presentation, complying all the laws (ROHS, CE etc.) doesn’t guarantee a foolproof system, until the installation instruction is prescribed right into the module boards.
Conclusion : So, what are you looking for? As a mobile app development company we can assess your business opportunities with IoT based customised solutions to help you stand out in the current competition. Right from improving the work life to transforming the communication processes, from availing customer data to determining the changes in the buying behaviour,our services can make your customers loyal, employees competitive and above all make your brand prominent.
Feel free to consult us now if you wish to experience the IoT advantages for creating benchmarks.