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Artificial intelligence plays a significant role in the growth of the IoT sector. Artificial intelligence emulates the task more profoundly, Those performances were earlier limited to the human workforce, but now the Artificial intelligence development company has made a lot more noise in almost every sector by actually revolutionize everyone's lives.

The Internet of Things has been introduced in recent years with the objective to transfer data to other devices through the internet. IoT relies heavily on the internet connection that handles large volumes of data. IoT and artificial intelligence from the last two years are going hand in hand as these data helps in generating a lot more data that can be taken as actionable results.

Artificial intelligence helps IoT to handle the data on the basis of algorithms where they can convert data with the help of machine learning-based analytics. These AI Developers help the company to monitor operations that can give great insight from the data with greater accuracy.

 

Gartner predicts that by 2022, more than 80 % of enterprise IoT projects will include an AI component, up from only 10 % today.

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How AI and IoT are Contribution to Growth

AI at work can access your IoT databases and know about your choices on the basis of last preferences, these personalized suggestions can easily make someone's life much easier. Here are some vital factors where Artificial intelligence affects the internet of things. 

  • Greater Revenue

IoT and AI are proving to be beneficial for most industries. These effects are enhanced by greater revenues and returns along with smart services-based solutions. With the extraordinary combination are transforming the workflows and other productivity of the businesses. 

  • Reduced Costs

AI and IoT ensure to reduce the operational cost by properly monitoring the smart sensors, meters, other fitted appliances. AI solution providers are providing impressive features that minimize the operational costs of households and business enterprises.

  • Predictive Analysis

AI uses the power of analysis to forecast and minimize unpredictable incidents at the most basic level. It allows businesses to manage real-time data in determining the condition of machinery and equipment which are likely to break down in some time.  Proper action can be taken prior to avoid any kind of damages or loss with an associated cost. 

  • Enhance Risk Management

A number of applications that integrate IoT with AI help companies to better understand and foresee a range of risks with the fast response, allowing them to better manage the safety of the workers, loss or any other cybersecurity attacks. This law enforcement identifies all the possible loss and tries to eliminate the threat before access.

 

How IoT impacts Industrial Sector

#1 Manufacturing

The manufacturing industries are integrating smart sensors with the help of IoT in order to perform enhance the efficiencies. These smart sensors help in detaching the threats be it aircraft, automobiles, household. By implementing Artificial intelligence solutions and smart sensors can help in diminishing the errors and also reduces the overall cost with the help of prognostic analysis.

#2 Smart Homes

IoT introduced the concept of a smart home where all devices are connected through a shared network. Through integrating this with AI, all of these apps will be able to understand the commands of their users and make smart decisions accordingly.

It can also help to reduce the cost of electricity by switching off devices when things are not used just by switching off the lights.

#3 Airlines

After the evolution of the latest IoT technology, all kinds of machines are run through sensors. We do not need to physically touch the devices to perform. These sensors are needed to identify the maintenance issue if any flight delays or cancellations, sensors automatically send messages to its passengers about schedule time or delays. Artificial intelligence solutions automatically transmit the issue, be it flight delays, cancellation or any other essential information. 

Conclusion

AI and IoT cumulative impact would fundamentally restructure our personal and professional lives. Therefore, wise companies opt for a strategic and innovative strategy to control this incoming phenomenon and transform it into a huge opportunity for their company to escalate. These dependencies and AI and IoT are aiming to gather important issues that process and store data with the visionary approach that can easily escalate businesses. The IoT development company is reshaping the whole scenario by simply combining the AI and IoT functionalities.

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The advent of Industry has marked the rise of IoT - the Internet of Things as one of the most significant shifts in the global devices market. It refers to the use of internet connectivity among the electric devices and systems to execute a joint function autonomously. 

 

We can find an uncanny resemblance to this concept in the movie Home Alone 4 (2002), where the idea of a smart home fad was beautifully narrated with its pros and cons that will turn into a reality soon. Two decades down the line, we are on the brink of the IoT revolution, which will result in increasing the living standards globally. Dive in deeper to explore the current happenings and future horizons.

 

Current Market Scenario and the Probable Stakeholders

The potential of IoT applications is widely recognized by both enterprises, retail consumers, and government agencies as it will integrate the cyber-physical systems with internet connectivity in order to interact with the surrounding through sensors and manipulating devices. Business Insider estimates the value of this tech innovation to be $1.7 trillion in the year 2019. The use of the Internet of Things will reduce the need for human effort in various tasks and provide controlled environments for achieving the desired results. 

 

The investment done by the tech giants is illustrated in the below figure:

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 (source: Forbes)

 

Some Famous User Cases Which are Expected to Take off Exponentially

Manufacturing Sector

The companies like ABB, Airbus, Shell, and the long-term IoT pioneer Caterpillar have been proactively pushing for such innovations in building safer workplaces that require fewer human interactions in hazardous work, which is also beneficial to the profitability of the business. It will also find great reception in predictive maintenance scheduling and inventory management. 

 

Asset Management

The businesses are looking forward to replacing the GPS in order to increase the efficiency of tracking company-owned devices through internet connectivity. This will also reduce the lags in logistics and provide accurate details for the consumables, as in the case of printers. Another example would be integrating the payroll software with the employee vehicles to reimburse traveling claims.

 

Agriculture 

The use of IoT to develop smart greenhouse farms with autonomous controlled environments will prove to be a boon for the agriculture industry as it will help in boosting crop production. Smart irrigation will control the soil quality, moisture content, atmospheric gas contents, and monitor plant health without any human intervention. The farm equipment will also be controlled in greenhouse farms with minimal need for human support.

 

Smart Homes

They are one of the largest areas where the revolution is expected to unravel the disruption in the electronic devices market. Google Nest, Ecobee, and Netatmo being the big fishes in the business. Everything including from your regular home appliances like fridge, television, ambiance and temperature control system, music system, and utilities are connected over the internet and controlled by remote servers. The user can interact with them using their smartphones. The house security is also connected with the central system. 

 

The effect on Living Standards

When we look at the current scenario, many of these tasks, when automated, the people currently dealing with hazards related to their respective fields such as heavy machinery or agriculture can work in a much more safer environment. Smart homes will increase the quality of life and help households in saving money since energy consumption is streamlined while providing a luxurious experience. Businesses will experience higher profitability and increased morale of the employees owing to the techno-savvy environment. 

 

The Development of Newer Devices through Prototyping 

Before the application is made, it is essential to test the reliability of all the devices since they will be used under different conditions and other manufacturer’s devices too. Also, the addition of newer devices shall also be considered. The use of prototypes in test conditions will prove to be an economical alternative to full-fledged testing. This will include the use of sensors and motion actuation systems with minimal cosmetic additions and cladding.  

The following considerations will affect the development of future-ready electronic gadgets compatible with IoT applications:

  • Safety against web-based third-party cyber attacks.
  • Modularized designs with programmable memories.
  • Standardization of source code libraries to facilitate interoperability.
  • Confirmation of regional government regulations.
  • Operational conditions.

The modern tech innovations such as AI, Cloud Computing, Blockchain, and the dawn of 5G connectivity will push the IoT movement along with the use of advanced sensors. Increased computing capacities will also contribute to data processing functionalities. However, the stakeholders in the industry ranging from vendors to maintenance personnel will have to cope with the advances in the technological aspects. The Internet of Things is also expected to be backed by academic institutions by covering it in the syllabi for creating a skilled workforce.

The author would also like to discuss the threats associated, which would pose a danger for the users. If the security provided isn’t adequate, ransomware attacks, stealing user information, altering device settings to provoke hazardous conditions are some of the worst-case scenarios. Hence, the vendors shall be conscientious about the security aspects along with the legal repercussions. 

 

Your Piece of the Pie 

A lot of new facilities and value additions to the existing devices and tools will boost the quality of human life, curb the problems caused due to the dangerous working conditions along with the health problems caused by them. It will find a broad spectrum of business domains, including smart cars to intelligent healthcare that will radically redefine our homes and workplaces alike.

The real potential is yet to be explored since the number of gadgets and tools is increasing day by day in each aspect of life. Be it economic or social backdrops, we will experience cost-optimization going hands in hands with unparalleled convenience, which is a rare phenomenon so far. We can also expect the Internet of Things crossing paths with other advanced technologies such as Artificial Intelligence, Big Data Analytics, and Edge Computing that will add value to their purpose in an exponential manner. 

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The fact that the Internet of Things technology is the future of robotics and the digital industry as a whole is far from news. And here, how blockchain will help it develop is the most relevant, hot and promising topic of the current time. So, how will blockchain help build intelligent information exchange systems?

How the Internet of Things Works

In a nutshell, the “Internet of Things” (IoT) is such a concept of the internal network for household devices and items. A kind of chat or messenger for coffee makers, washing machines, vacuum cleaners, refrigerators, and even cars, thanks to which they can exchange data on the external environment.

Hundreds of smart people around the world are struggling to create a language that will teach everyday objects to communicate with each other. And, it seems that the blockchaindevelopment by app development companies is of little use here. But this is only at first glance.

In particular, IBM is developing this concept. Combining the two concepts is supposed to help:

• track and record all changes in the network;
• create special magazines with the entire history of changes;
• Define a smart contract system for data transfer.

Blockchain, in this case, would help to unite several devices into a single infrastructure. They would thus be able to exchange parts of the property - for example, data or currency. At the same time, the blockchain itself can be used to track the time of transactions at any time.

What do the experts think?

IBM conducted a special survey among IT industry professionals to find out how promising they find blockchain technology concerning the concept of the “Internet of things”.

However, this is the main property of any blockchain, wherever it is used. In the "Internet of things" you can also adjust the level of control over the device: weaken or strengthen. Using the blockchain in this way, you can reduce the risks of hacker attacks on the data exchange system.

Dell, represented by its specialist Jason Compton, believes that blockchain could become an alternative to traditional security systems. Decentralized control will allow you to expand the scheme and make it more easily scalable - that is, you will not have to build a multi-level expensive infrastructure with secure servers that the devices would have to access to exchange data. You can connect them to a peer-to-peer network directly and in any quantity you like.

Blockchain is not only for security

Using distributed registry technologies for IoT devices can not only solve security issues but also add new features and reduce operating costs. Blockchain is a technology that works with transactions and provides interaction in the network. It is great for monitoring processes in IoT.

For example, based on the blockchain, you can support the identification and discovery of devices, facilitate microtransactions between them, and provide proof of payment.

Ways to use the blockchain for the “Internet of things”

There are at least four areas in which the blockchain can be integrated into IoT:

• Creation of a trusting environment;
• Cost-saving;
• Acceleration of transactions;
• Security Improvement.

By the way, they are already working on these technologies to use them in the development of “smart equipment” or its individual components.

Examples of solutions of blockchaindevelopment for IoT

A typical example is the support by the Hyundai industrial corporation of a startup using blockchain technology. The project was called HDAC (Hyundai Digital Asset Currency) and at the end of November 2017 raised about $40 million for development.

The essence of technology that Hyundai is developing is to adapt the blockchain for its own IoT devices. The consensus protocol will unite all devices and act on the principle of smart contracts for the exchange of transactions.

Another company, Filament, is developing an industrial chip for IoT that will automatically encode sensor data and then adapt it for the blockchain. Thus, the exchange of information from the external environment between various equipment in a peer-to-peer decentralized network will be achieved.

The third characteristic example is the IOTA project, which uses the innovative blockchain - Tangle, designed specifically for IoT devices. At the same time, MIOTA tokens are traded on the cryptocurrency market and have impressive capitalization, representing value for investors.

It is worth recognizing that the development of the blockchain for the Internet of things is still far from implementation. In particular, several security-related issues have not yet been resolved, and some legal issues have not been addressed. However, the potential from the interaction of IoT and blockchain is truly enormous.

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The Internet of Things (IoT) or the connected ecosystem of devices, sensors, and computing systems is exploding with the latest technologies. As mobile devices are increasingly becoming more equipped with most advanced sensors and user-friendly user interfaces, they are playing a central role in the development and proliferation of the IoT ecosystem. No wonder IoT apps have emerged as the leading mobile app category with an era-defining impact on the lifestyle and development paradigms.

As the promise of this connected ecosystem, is not going to die down anytime soon, a famous mobile app development company working with IoT apps understand the opportunities promised by the connected ecosystem of gadgets and emerging technologies such as Machine Learning, edge computing, and in-memory computing.

Let's explain now the present state of things with iOS apps.

What do the Predictions and Statistics say?

According to most analysts of our time, the impact of IoT is really supposed to be huge as the vast majority of consumers are going to buy connected gadgets by the year 2019, as predicted by an Accenture group venture called Acquity. Another report by Gartner predicts that the total number of connected things across consumer homes, businesses, and industries will grow up to 26 billion by the time we reach 2020.

Improving Business Operation with IoT

With so much of promises on offer, naturally, organizations are trying to find out the best ways to equip their companies with the IoT ecosystem of gadgets and sensors. This obviously involves also combining the information fetched from a variety of connected sensors with predictive analytics. Modern enterprises are increasingly realizing the potential of IoT data when coupled up with analytics and the latest technologies such as Machine Learning. The smart apps utilizing the potential of IoT with the help of modern analytics and Machine Learning technology are actually trying to make things easier for their target users and customers.

Key Smart App Niches with Maximum Impact of IoT

While IoT is increasingly being integrated across industries and business niches, not all areas of IoT Integration are equally successful. Over the years, many people quickly refer to IoT as smart home gadgets, and it was the area where connected gadgets and apps started their journey.

Then comes the wearables like smartwatches and health and fitness bands that quickly became part of a smart gadget revolution. Then the connected car entertainment and navigation system became a massive reality with major thanks to the ridesharing apps like Uber and Lyft. Last but not least, the Industrial Internet of Things (IIOT) also became a reality with never-before promise for efficiency, productivity, and excellence.

Let us explain these key niches that gradually played the biggest role in the smart app revolution.

Smart Wearables

Smart wearables like smartwatches and fitness bands remain the most prominent category of smart mobile apps showcasing the value proposition of a connected ecosystem of devices. From a plethora of smartwatch brands with their own ecosystem of standalone wearable apps to the plethora of smart fitness and health tracker bands with their connected mobile apps, continue to contribute to the IoT ecosystem of smart applications.

Smart Connected Cars

The concept of smart connected car gas evolved over the years. While the basic smart connectivity with the car entertainment system to allow phone calls or using the virtual assistant to respond to emails are increasingly becoming part and parcel of automobile offerings from leading brands, the connected cars in the way of driverless car technology or remote navigation control system has still not become a marketable technology.

But as most car makers these days have their own mobile apps to allow users to exercise greater control while driving or boarding the car, connected car apps have become a big pushing factor for the automobile sector. The connected car apps are also evolving to help with various issues, and tasks ranging from real-time traffic feedback to monitoring the technical difficulties to alerts for maintenance needs to monitoring fuel consumption, etc.

Smart Home Apps

This is the oldest and most mature category of iOS apps that went through almost a whole evolution. Smart home gadgets ranging from the electric lights to the air conditioning systems to the connected refrigerators to the smart coffee maker, all gadgets that can be communicated and controlled using mobile apps, belong to this category. The smart home apps allow users to control their home gadgets with simple commands while enjoying the comfort and ease in lifestyle.

IIOT Apps

Industrial Internet of Things (IIOT) refers to the connected gadgets, devices, and sensors that, in an enterprise or industrial environment, help workers and employees to communicate and access data to complete tasks faster and with more efficiency. From the smart Beacon sensors or the geofencing technology in the retail stores to help to locate nearby customers to the use of connected security camera systems to process security information in real-time to the smart connected gadgets in the modern manufacturing units, there are a plethora of examples of Industrial Internet of Things (IIOT) applications.

Conclusion

As the IoT apps across all industries are rapidly proliferating and opening new and never-before opportunities of boosting efficiency and ease of use, should we not forget about the challenges to the IoT app development. The biggest challenge to the IoT mobile app development as of now concerns the data security and question of protecting privacy. In the years to come, with the ongoing excellence of IoT apps, addressing security challenges will continue to remain a key priority for the IoT app developers and strategists.

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IoT technologies or "Internet of Things" collect and analyze information about the object, its movement, condition, and many other features. In the European Union alone there are currently more than 13.3 millions of active trackers that use this system, which is a significant growth compared to 0.7 of a million in 2016.

An object of observation will be tagged for tracking with a relatively small device that collects the necessary information and sends it to you via Wi-Fi. But how one should know which type of IoT solutions to choose?

IoT Tracking Technologies

  1. RFID tags

RFID tags use radio frequency to identify the right element or track a certain "tag". In comes in two types:

  • Passive RFID tag depends on the RFID reader to send a wave that they can use to reply. For example, to see who passes through the reader bars in the store with an unpaid product.
  • Active RFID tags have an identifier along with a battery inside, which allows it to communicate with a reader on a larger distance.
  1. BLE beacons

BLE beacons rely on Bluetooth Low Energy so they can communicate, often used inside mobile phones. They can send multiple types of signals and detect many devices around them.

Beacons come in different forms and devices:

  • Parent beacons process and collect received data, communicate with child-beacons.
  • USB beacons
  • Router-sized beacons
  • Small portable beacons
  1. NFC chips

Near Field Communication is one of IoT technologies that rely on the electromagnetic field when are very close to each other (5-20 centimeters). NFC devices interact similar to RFID, can also be active and passive:

  • Active NFC sends and receives data (for example, it's being used on smartphones)
  • Passive NFC only sends information
  1. Zigbee hardware

Zigbee was invented for more complicated communication. They create a small network in a limited area, powered by a small radio.

Zigbee chips are widely used in radios and USB interfaces among other IoT solutions. It's also famous for its low cost and power expenses.

  1. LTE advanced

Long-Term Evolution is a wireless communication technology that was developed for faster internet, bigger storage and data processing. It's mostly used by mobile phones but sadly has different regions depending on the country where the phone was produced, with no support for a different frequency.

  1. LiFi

Visible Light Communication based Light Fidelity uses diodes to communicate at the speed of light without a chance for a human to notice the signal. The signal is then received by a photodetector.

LiFi is known to be the biggest rival of WiFi, though it's limited to the reach of the light that can be stopped by an obstacle.

  1. GPS

Everyone who owns a phone is familiar with Global Positioning System, which provides geolocation at a certain time to all GPS receiving devices. While still haven't beat by its accuracy in tracking, GPS is known to be quite power-consuming because it determines an object's location in non-stop mode.

  1. LPWAN

Low Power Wide Area Networks is created for long-distance communication and uses a low bit rate. It also allows to create a private wireless network.

Here some of the LPWAN based technologies:

  • NB-IoT uses a wide range in cellular services and devices
  • LoRaWAN uses a chirp spectrum radio module along with LPWAN technology
  • DASH7 is a firmware standard with low-latency, used over LPWAN

How IoT tracking helps in your business

Which of the IoT technologies is the best suited for your business?

Commercial Organization

  • A commercial organization may track their assets using RFID tags, such as Amazon keeps track of products in their vendor places
  • BLE beacons can help understand the customers, how much time they spend in the store, which aisles they visit and how they move across them
  • NFC technologies allow your customers to pay faster with their wireless credit cards
  • Zigbee is a necessity for those who develop smart home devices
  • LiFi help you set up shop displays and show advertisements to the customers

Industrial Business

  • BLE beacons help organize the inner industrial process, track equipment, monitor assets, prevent human errors and incidents
  • NFC takes care of security and access control
  • Zigbee helps with remote monitoring in a company with a large facility. However the cost rise drastically when operating between the facilities, so it's not used
  • LTE Advanced can instantly notify of a security breach and needed maintenance, write reports, draw a map of assets real-time movement
  • LPWAN optimizes costs and energy losses and power outrage. It monitors liquid levels, energy installations, optimizes solar plants performance

Healthcare Facility

  • RFID helps manage medical equipment and monitor the room's condition. It also helps with identification badges
  • BLE beacons help with indoor navigation
  • NFC tracks the patient's location, their time of treatment and health at home
  • Zigbee can monitor patients in real-time at low-cost
  • GPS tracks down the location of an emergency case
  • Li-Fi can lag when the light is interrupted. Otherwise, it's a perfect tool since it doesn't mess with another equipment
  • LTE has a personal network for enterprises. It's a large and secure network at a hospital

Logistics

  • RFID identifies a vehicle, person, baggage and therefore is helpful at railroad, airports, and roads
  • NFC helps scan tickets and trains passes fast
  • GPS helps to locate fleet vehicles and contact them
  • Modified with LED bulbs, LiFi cars help to prevent a collision in advance
  • Paired with other technologies, LTE Advanced can monitor the flight in real-time and communicate in long-distance
  • LPWAN can trace objects in real-time, optimize routes, detect and resolve faults, road threats, and maintenance

Agriculture and Food

  • RFID is helpful with tagging and locating cattle and food
  • GPS allows to plow and place crops precisely, map and monitor the field and save costs from farming
  • LPWAN is useful for measuring the soil moisture, water levels, cattle hygiene, and gate security

A wide range of IoT object tracking technologies is created to serve different purposes. Decide among the best of IoT solutions for yourself or read more in our blog to help determine which option is the best for you.

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IoT today is one of the most significant sources of new data. Considering that, data science will provide a considerable contribution to making IoT applications more intelligent and fast. Current applications of data science backed with Machine Learning has helped us deduce significant factors to help achieve optimum success in this field.

First, since data gets generated from different sources with specific data types, it is imperative to adopt or develop algorithms that has the capacity to handle the data characteristics.Next, the vast number of resources that generate data in real-time are not without the problem of scale and velocity. Conclusively, finding the best data model that fits the data is one of the most vital issues for pattern recognition and for better analysis of IoT data. 

These so called ‘issues’ have paved a path for a vast number of opportunities in expanding new developments. Big data can be laid down as high-volume, high-velocity, and high variety data that demands cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation.

3 Major Concepts of Machine Learning in IoT

In order to better understand what algorithm best fits for processing and decision-making in the field of IoT, one needs to understand the most basic concepts of IoT.

  1. i) The overall application of IoT
  2. ii) The data-driven vision of ML algorithms

iii) Characteristics of IoT data

The overall application of IoT

As we know, the purpose of IoT is to develop a smarter environment and a simplified life-style by saving time, energy, and money. It also reduces significant amount of costs for major industries. Four major components of IoT include: 1) sensors, 2)processing networks, 3) data analysis data, and 4) system monitoring. Since IoT is integrated with a  number of technologies, and connectivity is a mandatory and sufficient condition for it to function, there are certain communication protocols which can are some of the most basic ingredients of this technology. Cumulatively, we need to enhance these components:

(1)Device to Device (D2D): is a type of communication which enables communication between nearby mobile phones; representing the next generation of cellular networks.

(2) Device to Server (D2S): is a type of communication device where all of the data is sent to the servers; can be either close or far from the devices. Such communication is majorly applied to cloud processing.

(3) Server to Server (S2S): is a type of communication where servers transmit data between each other and is majorly applied for cellular networks.


Before transferring data to other devices, one needs to prepare the data in order to establish communication. For this, there are various analytical processes and computing methods that are used.

Fog Computing:- This method is applied in order to migrate information from the data center task to the edge of the servers.

Edge computing:- The processing is run at a distance from the core in this type of computing.

Cloud computing:- Cloud has high latency and high load balancing, indicating that this architecture is not sufficient for processing IoT data because most processing should run at high speeds.

Once we understand the detailed classification and the purpose for which we intend to use the IoT device, we can establish the correct type of algorithm to use under the hood. Majorly this part of allocating algorithms comes up during the process of IoT app development and a lot of brainstorming goes behind it.

Let us have a look on the surface of some of the most widely-used and sophisticated Machine Learning algorithms that can be inculcated with the IoT devices.

A) Classification:- This type of ML algorithm is used in smart cities, especially for managing smart traffic. It helps in traffic prediction and in increasing data abbreviation.

B) Clustering:- This algorithm is used for smart traffic and smart health. It again aids in traffic prediction and in increasing data abbreviation along with patient data monitoring.

C) Linear Regression:- This algorithm is mainly used in economics and helps in real-time prediction along with data abbreviation.

D) K-Nearest Neighbours:- This algorithm is applied for smart-citizens and helps in analysing passenger travel patterns.

E) Feed Forward Neural Network:- Used for smart health purposes and helps in reducing energy-consumption and forecast the state of elements.

F) Canonical Correlation Analysis:- Used for monitoring public places and helps majorly in fault detection.

Conclusion

IoT has excited every single individual connected with information technology today. It promises an all-connected, all-encompassing future. These connections and smart devices together will lay down the foundation of a world we have so fondly visualized with sci-fi books and movies.

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$13 trillion in ROI will be generated by 2025 - BI Intelligence.

Over 20 billion devices will be connected to the IoT by 2020 - Gartner

These predictions about IoT clearly reflects how rapidly this futuristic technology is evolving. To stay ahead of the curve, diverse industry-specific businesses are already investing heavily in different IoT initiatives. No wonder why IoT has become the “talk of the town” in the digital world. 

In this article, you are going to get a detailed insight on IoT - perks of adopting IoT in businesses, which industries are benefiting the most from it, how IoT is transforming the mobile app development sector along with what we can expect from this futuristic technology in 2020 and beyond.

IoT advantages for businesses 

By 2020, the IoT platform is expected to grow at a Compound Annual Growth Rate (CAGR) of 40%. So, what’s the secret behind its global popularity?

Well, through customized IoT mobile solutions, this advanced technology helps in addressing some common business challenges including

 

  • Safe data access
  • Safe data storage
  • Device control and management
  • Integration and maintenance

 

Allowing the real-time data exchange to carry out different business actions and analysis is one of the major reasons why businesses are going gaga over it. The list of IoT’s wide range of business benefits includes

 

  • Enhanced productivity

 

When it comes to the point of dealing with real-time data and variables, IoT does it the best. IoT-based applications help in management procedures. Also, it can help in carrying out automation of routine-based functions, informing employees about expected technical disruptions along with supporting remote troubleshooting procedures.

 

  • Better customer experience

 

With IoT-based applications, businesses can offer a seamless and smart customer experience. Users can carry out transactions using smart trackers, mobile card readers, etc. Also, the smart meters and smart grid technologies help users to identify and resolve issues. 

IoT-based devices are capable of collecting a plethora of data on users’ behavior which helps businesses to come up with innovative ways to keep their customers engaged and offer better customer experience.

 

  • Cost-effectiveness

 

Both the IoT devices and the IoT-based applications assist professionals not only to monitor equipment but also to diminish the downtime along with the risk factors. The applications based on this advanced technology can successfully predict possible system misalignments and failures which in turn helps in saving a lot for businesses.

Thus, IoT has become one of the most loved technologies to implement these days. 

Industries to benefit from IoT applications

As IoT technologies help in reducing overall business operating costs, increasing business visibility, business efficiency and productivity along with creating additional revenue streams, businesses across diverse industries are embracing it wholeheartedly. 

Healthcare and fitness

Today’s market is flooded with different IoT-enabled wearables. Such smart wearables help in monitoring calorie intake, heart rate, steps taken while walking, sleep along with tracking various other activities that help us to stay fit and healthy. 

Other than personal use of health wearables, some smart appliances like thermometers, scales, blood pressure monitors, etc. are presently available in the market. 

Smart home

The idea of home automation was relatively unfamiliar to most people until recently. With the emerging IoT technology, smart home automation has started to show its true power. Smart homes make our lives easier, more convenient, and more comfortable. 

Increased energy efficiency, better home security, savings on the electricity bill, maximized comfort, etc. are some popular reasons why smart home automation development with IoT is trending in the market these days. 

Retail and Supply Chain Management

Well, if you think different IoT devices and applications in the Retail industry is limited to only shopping and SCM, you are wrong. Enabling IoT in business is an opportunity for hospitality service providers, restaurants, and other businesses to manage not only their supplies but also to gather valuable insights. 

It allows business owners to avert order overflow, effectively restricting the employees who abuse their privileges along with managing the merchandising and logistical expenses in a better way. Business owners now can manage their inventory in real-time with IoT. 

Automotive

Self-driven cars or connected cars are no longer fiction only. Thanks to IoT. Thus, in the automotive industry, IoT use cases are actively expanding. Smart applications are being developed and integrated into car infotainment systems so that providing telematics, in-car navigation, and entertainment becomes easier than ever.

Also, IoT-enabled apps make sure predictive maintenance, surveillance, security, and safety of the vehicle along with real-time monitoring, cognitive insights for the management, etc. 

Other than the above-mentioned ones, industries related to manufacturing, agriculture, logistics are also ripping benefits out of IoT. 

IoT in mobile app development - what to expect next? 

You have already seen how IoT is transforming the way different industries operate. According to experts, IoT adoption is still in the early phase. The way the connected world of IoT is evolving, soon we can experience its power to the fullest. Even worldwide app developers would agree that IoT is leaving significant impacts on iPhone and iPad app development services. So, what can we expect from this futuristic technology in the future?

Edge computing will become more popular than cloud computing

We all know how cloud computing brought a wave in the digital world. Even today’s IoT devices store all the data in their cloud. However, in the tech world, change is the only constant. And this is why we will probably soon witness edge computing becoming more popular than cloud computing. 

Now, the question is how?

Instead of sending all the data from devices to the cloud, now, the IoT devices will transfer data to a local storage device first. This device can filter, sort, and accordingly can calculate the data and transfer only the required data set to the cloud. 

Undoubtedly, it will reduce traffic to the network. Also, collecting and processing data locally will allow the IoT apps to consume less bandwidth and work in bad connectivity to the cloud. 

IoT security will get more priority

The graph for IoT application adoption in businesses is increasing exponentially. Now, with more devices being connected to the network, not only the data volume increase but the risk for data security increases as well. 

We have seen how the smart home industry and health care industry is adopting various IoT-based applications. So, be it patient’s health-related data or data related to the home security, everything is being stored in the cloud. So, with sensitive data floating in the cloud, we can expect IoT security will get more priority in the next year and beyond. 

A unified framework for integration

To keep the industry safe and secure, a unified framework is required. The lack of a unified IoT framework - this is a serious challenge that IoT has faced while cooperating with different industries. However, another trending technology Blockchain will be a great help to accelerate the IoT adoption process by allowing the app developers to improve and develop mobile and web applications. 

So if someone is looking to develop IoT apps and looking for an Android or iOS app development company, it is important to know beforehand if they are capable and know the integration. 

IoT and AI

Both Artificial Intelligence and IoT are data-driven technologies. And both technologies are used for storing and analyzing data. So, to make automation more efficient, we may see these two thriving technologies being implemented together to gain better visibility along with accurate insights into various services. 

Other than what we mentioned above,

  • We will see the rise of predictive maintenance
  • Businesses will deliver more personalized customer experiences
  • Software-as-a-Service will be the new normal

And all of these will be the direct or indirect impact of IoT being implemented in the mobile apps. 

However, mobile app developers have to advance their skill sets to integrate IoT successfully in their apps. Having sheer knowledge of Swift or Xcode won’t be enough for smart iPhone or iPad app development services. 

Of course, we will witness new technologies being emerged. However, these will make IoT easier to use and more intuitive to a large extent. 

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The term Digital Transformation means different things for different people. Some people might think of it as switching from manual processes to autonomous processes, while for others it might be about the insights that the data brings, which can help in making business decisions. What can Digital Transformation or moving towards Industry 4.0 do for the manufacturing sector? It can lead to enhanced production cycles, increased customization, a focus on reinforced products and better access to information for employees.

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Embedded systems are maybe the most complex part of an integrated IoT solution. Looking at my company's experience I can say that most programmers that come to build IoT systems have to have additional experience if they want to work with hardware. Customers that want to hire IoT developers also need to have a basic understanding of what skills his future contractors must have.
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The transportation and logistics industry is one of the most vulnerable sectors to cyber attackers. As more connected solutions are introduced to improve efficiency, securing these complex cyber-physical systems will require multi-layer security from Sensor to Cloud.

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How IoT Reinvented the Business World

Internet of Things (IoT) has completely transformed the business world and drive it to the next level. The connected smart devices have turned the strategies into increased profitability. 

While seeing the present scenario, the demand for IoT solutions is increasing day by day.  To maintain the remarkable presence and to serve the enterprises with effective results, the IoT Solution provider company is enhancing and upgrading the strategies and solutions day by day. 

The work strategies of businesses have completely transformed and IoT has become a key to success. According to Forbes, “More than seven in 10 executives credit IoT with delivering increased revenue. Currently, 45% report IoT has helped boost profits by 1% to 5%, and another 41% say the impact has boosted them by 5% to 15% annually. Over the coming year, nearly all, 94%, anticipate a profit boost of at least 5% to 15% as a result of IoT.” 

So, in this article, we are going to tell you the advantages of the integration of IoT. 

Benefits of the Internet of Things 

Increased Productivity 

The integration of the Internet of Things has increased the productivity of the employees. As through the integration of smart devices, the speed process of many tasks used to increase and results are error-free. 

Saves Time 

IoT smart solutions save the time of the employees, as it excludes the repetition task of humans like the data entry in management or inventory management system. Resources can utilize that time and energy in other potential work processes. 

Easy Tracking System 

For the shipping industry, tracking has always been a hectic and troublesome process. But IoT has sorted out this challenge, as now with smart wearable devices the ship can be tracked by the management and customers also. 

Tracking System can be held by these following methods: 

1) RFID -  Stands for Radio Frequency Identification, through its team track the ship based on frequencies, there are many challenges but with time and upgraded technologies, it has turned into an easy method. 

2) GPS: The term GPS stands for Global Positioning Satellite system, GPS solutions have been integrated into the smartphones also. It helps to track real-time information. GPS can be integrated into wearable devices and smartphones. 

Increase Remote Working Process 

Working from home employees is less expensive for the enterprises as it saves the cost of infrastructure and with various IoT solutions, the working process from home has become easier. Time to time employees can update their working and have proper communication. 

Improve Customer Experience 

Internet of Things technology improves the customer experience as through it, enterprises can offer a new experience to their customers, by offering a multi-dimensional and 3D view. 

Along with this, it is helpful to provide the best facilities to the customer by monitoring, regulating and maintaining real-time issues. Often passengers face a lot of challenges like broken escalators, dirty washrooms, these issues can be analyzed through smart sensors and immediately the action can be taken by the authorities. 

As per the Forbes Insight Survey, “56%, are investing in IoT to build on the customer experience they’re delivering, and 42% have been able to expand their capabilities in terms of personalized customer experience as a result of IoT.”

Conclusion 

The demand for integration of IoT smart technologies is increasing day by day as it is turning out to be the profitable strategy for the enterprises.  Along with this, it has become an essential technology of the business and considered a smart investment. This takes the business to new level.

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What is OPC?

The acronym “OPC” stands for “OLE (Object Linking and Embedding) for Process Control”. OLE is based on the Windows COM (Component Object Model) standard.

OPC standard is implemented in server/client pairs. The OPC server is a program that translates the hardware communication protocol used by a PLC into the OPC protocol. The OPC client software is a program that connects to the hardware, such as an HMI. The OPC client communicates with the OPC server to receive data or send commands to the hardware.

 

How does OPC work?

OPC specification describes the interface between clients and servers, servers and servers, including access to real-time data, monitoring of alarms and events, access to historical data and other applications.

The classic OPC connection scenario is a single server-client connection on a single computer, but there are more options which include:

  • Connecting an OPC client to several OPC servers. This is called OPC aggregation.
  • Connecting an OPC client to an OPC server over a network. This can be done with OPC tunneling
  • Connecting an OPC server to another OPC server to share data. This is known as OPC bridging

 

Technical Benefits of OPC

In addition to improving OPC server and client connections, the OPC DataHub can connect any OPC server or client to other applications as well, including Excel, a web browser, or any other database. And, it can be used to import OPC data into Linux or QNX.
Usage

Following OPC specifications are used in industries:

  • OPC-DA (Data Access): Provides access to real-time data. We can query most recent

values of temperature, pressure, density, acceleration, and other types of process control data from OPC-DA server.

  • OPC-HDA (Historical Data Access): This is used to retrieve historical process data for analysis. This data is typically stored in files, databases or remote telemetry systems.
  • OPC-AE (Alarms & Events): OPC AE servers are used to accept and exchange

process alarms and events.

  • OPC-DX (Data eXchange): It defines the way OPC server data is exchanged with other OPC servers.
  • OPC-XML (XML Data Access): It defines schema and data representation formats based upon XML standard. This makes it possible to share & manipulate process control data across all operating systems – Windows, UNIX, Solaris, etc.


Benefits of using OPC standard are:

  • Reduced load on the hardware device.
  • Increased scalability of the system.
  • Because of OPC server, client applications need not know anything about hardware protocol details.
  • Though device need not serve multiple clients, So Increased life for the device.
  • Interoperability (Unix/Linux and Windows – both platforms are supported by OPC)
  • Standardization

eInfochips – OPC implementation

At eInfochips, we have provided embedded solutions for OPC’s industrial automation product line for our clients in embedded solutions. This includes detailed work on:

  • BIS systems: Building Integration System , or BIS, is a software package that brings building automation, access control, video surveillance, intrusion, fire alarms and voice evacuation onto one convenient management suite. The classic OPC Server had implemented specific protocol over TCP/IP protocol to monitor and control different types of building integration system panels, which is able to interface with OPC client of the BIS system software.
  • System alerts: In OPC Server, we had implemented OPC-DA (Data Access), OPC-HDA (Historical Data Access) and OPC-AE (Alarms & Events) specifications. For controlling and monitoring panels, OPC client fires different commands to the panels by using OPC server e.g. unlock door, lock door, arm area etc.

OPC server developed by eInfochips contains the following modules, functionalities and activities, listed below.

To know more about the IoT services and solutions

  • Design, Development and Testing of OPC Classic server for different panels used in a building integration system with specific Automation protocol
  • Implementation of following group commands on OPC Server,
    • System
    • Panel
    • Door
    • Area
    • Output
    • Point
  • OPC server communication stacks integration (TCP)
  • OPC server security – Command Authentication AES 256
  • Client and status command implementation

We have also developed OPC Clients for our customers, running on Linux OS to communicate with OPC server over Ethernet. This further communicates with OPC server for Reading and Writing data/parameters. In OPC Client, we had implemented OPC-DA (Data Access), OPC-HDA (Historical Data Access) and OPC-AE (Alarms & Events) specifications. OPC Client will communicate with OPC Server for fetching data from the PLC. At the other end, it will send/receive historical and live data of temperature, pressure, density, acceleration etc. from the OPC server to the cloud for storage and analysis.

To know more about how we can help you with OPC implementation for your building automation needs, Learn more about our Industrial Automation Solutions or digital engineering services

 

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More often than not, the budget and cost of ownership with a build-versus-buy aspect has been a key consideration in the decision-making process. Once after that, one goes out to seek the flexibility of the platform, vendor lock-ins, and scalability, which are definitely equally important, if not more.

The field, Internet of Things IoT, is one such domain which is driven by volume, velocity and variety. This makes you picky about the choices you make. Technologies continue to emerge and enable a myriad of IoT use cases. 

If you are thinking about selecting a platform partner for your IoT based project, there are a few criteria you need to consider before solid decision-making. 

Regulation of IoT devices

Today, in the present time, there are more devices connected to the internet than humans. This clearly shows the upward trend. Data says that, more than 75 billion internet based devices will be connected by the end of 2025. IoT has been adopted within multiple applications and is being used across industries or IIoT, enterprises--smart cities and waste management, healthcare, etc.

The overall adoption of IoT is providing companies the much-required agility, efficiency, and scalability. All combined together are providing a competitive advantage to businesses. Things are going North for IoT and vendors who provide a versatile IoT platform to help these companies get on the IoT bandwagon.

Taking the build vs buy decision

There are chances that things might get a little overwhelming if you fail to define your expected outcomes before choosing the right platform partner. Some of the pointers you should jot down are: What kind of data are you processing, which systems need to be integrated, and what kind of insights do you wish to generate? 

Asking the right questions can help you arrive at the right place, which is: whether to build or to buy? Think on critically evaluating various components separately, including device type, communication, cloud services, applications, and cross-layer security.

There can be some components which you may have to build from scratch and for others, it can be managed with the IoT solutions provider company. It depends entirely on the cost of ownership. Cost of ownership is the upfront fee to procure the platform, service fee, customization charges, and the cost of upgrades to adapt to dynamic business ecosystem. 

Is the platform scalable enough

The IoT vendor that you choose should be flexible when it comes to aligning its technologies with your legacy architecture. Make sure there are no limitations and that their technology should be easier to deploy without causing any delays. 

Many vendors will speak about flexibility but not all of them are equipped enough to offer it. The number of devices is increasing, due to that, you will definitely require a lot of customization and personalization. 

The vendor that you choose should be transparent about how extensible the platform is and whether there is adequate scope to add new features without hampering the existing system.

Is the platform capable enough to handle huge queries?

There is no doubt that the number of connected devices continues to grow, and will keep on going. This will pose the need for scalability more than ever. In fact, this might even become a prinary concern for most enterprises.. 

This will also mean that the costs that come associated with data management and hardware, will continue to rise with every added device. You need to keep the amount of scalability clear with the vendor. Ask them what is the highest they can offer.

Are they competent enough to handle complexities which more number of devices bring along. The  agility and ability of the vendor are of critical importance.

Do they offer real-time monitoring and data analytics

The ecosystem of data analytics is heavily crowded, and the right vendor at the right time can be all you need to break from the pack. There are four main things when it comes to IoT: things, data, people, and processes. 

With the help of networked connections, vendors are able to understand their relationships better and present insights that can take businesses to the next level. With real-time data and actionable insights, vendors can alert you about the issues that were not even there on your radar and help make more informed, intelligent decisions.

Conclusion

The entire arena of IoT is thriving, and is soon going to become the Internet of Everything. Working seamlessly with these connected smart devices can accelerate the businesses effectively. There are always pointers and directions one can follow, the final decision rests in your hand.

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IoT and CRM, the buzz words of the 21st century, are now a reality and would soon bring the great industrial revolution across the world. With the advancements in technology and the internet, it’s not only humans who are connected via the internet, but also the devices which are getting connected through this marvel technology.

 IoT(internet of things) as a game-changer is becoming a crucial technology in different industries and integrating innovative ways to bring success to an organization.

As per a report by Gartner, there will be around 20 billion IoT devices by 2020.

IoT and CRM

IoT is the connection of the devices via internet while CRM is the collection of customer’s data through data mining, giving useful insight into the customer behavior for segmenting the market and targeting the campaign effectively. With the empowerment by IoT, CRM helps to manage relationships with the customer and facilitates in achieving the goal of an organization.

As per another report by Gartner, CRM will be the heart of the digital initiatives for many years to come.

Who mainly benefits from CRM?

  • Small businesses looking for rapid growth: CRM can take off the burden from the IT management team by automating the business process. It further helps the employees to keep the focus on the critical areas which needs human intervention.
  • Top industry leaders looking for large scale solutions: It simplifies and improves the complex engagements with a customer. Some of the top-level executives like CEOs, CIOs, CMOs require advanced tools to streamline the business and technical process of an organization and with a wide range of CRM tools it can be scaled to meet the requirements of any organization.

It should be acknowledged that with IoT, CRM can evolve to a much developed and advanced version of the technology. The combination can help in making sense of the past enterprise data, and connecting it with the real-time data through the “devices.” The combined technology can help all the departments across the organization, be it sales, marketing, or customer service.

Find out some of the best results which businesses can achieve through this integration:

1. Optimized customer service:

Have you ever thought of, fixing the errors before the customer notices it!!!!

No product in the market is entirely error-free. For a marketer, it is a nightmare when a customer complains about their product and that too on a widely-used social media platform. It can hurt a company’s reputation as negative publicity spreads fast like the wildfire of Amazon. This scenario can be easily evaded with predictive analysis, and with the right integration of CRM and IoT. It helps to push away the major lapses, which can demotivate a customer in purchasing further services or products of the same brand.

 Majority of the manufacturers are already reaping the benefits of connecting their CRM with the IoT devices. As they are partly responsible if a product does not provide the service as per the expectations of a customer, they can make the product 100% efficient with the right collection of the customer data and the product specifications needed by the customer.

Customer service as one of the essential support to generate high revenue for the organization needs an advanced version of the technology, which helps to understand the customer with the right information.  IoT with CRM is a perfect guide in this circumstance as it is the right combination of technology and customer relationship management process of the organization.

 As businesses vie up for the same customer, the one providing the best and optimized customer service will be surely a winner in this race.

2. Increased sales:

The consumer market has evolved over the years, and customers are highly valuing service over others, before making the final decision. An efficient service, which involves providing precise solutions to the business challenges of the customers at the right time, significantly improvises the business process and increase sales.

An increasing number of organizations are leveraging IoT technology to increase sales opportunities.

3. Next-generation CX: Customer experience (CX) is the sum of the customer journey throughout the business cycle with your organization. IoT and CRM pave the path for the next-generation CX as the IoT related data which provide predictive analysis enables proactive support leading to some of the best customer experiences. By using customer information on the location, preference, status, and others, the problem can be predicted and resolved at the right time.

4. Omnichannel in-store experience: CRM and IoT can provide an immersive and omnichannel in-store experience. Store owners can know what the customer is looking for, what are his preferences, etc. It would also help in suggesting the products which the customer might purchase.

5. Customer retention: As CRM provides the complete customer data, it can help in better understanding of your customers. The IoT data and customer data build up a unique combination in streamlining the marketing approach and targeting the existing customer. The whole process helps to retain the existing customer, a challenge in the current market scenario.

What are the benefits of IoT and CRM integration?

It influences customer engagement to a great extent and provides:

  • A higher degree of personalization
  • Molding of the marketing process
  • Helping to change the prices as per the demand
  • Higher revenue and sales for the organization
  • Increased customer satisfaction

Conclusion:

 As an organization, one can discover advanced ways of connecting with the customers, when IoT and CRM are enabled to work together as a connected enterprise.

 IoT is the new channel which holds great promise for CRM. The small and mid-sized businesses, along with the large enterprises equally, could reap the benefits of this amalgamation. The interaction of the devices with intelligent systems opens up a complete new world for delivering personalized services and exceptional support.

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The way businesses are carried out today has changed at the fundamental level with IoT. By connecting sensors and devices with the internet, we have reached a new height of progress and innovation, which was not previously possible. This new height is all about data connectivity, analytics, and automation. In the coming times, we will see more of IoT enabled devices and systems getting common in our lives due to the traction gained in terms of home automation and industries. The industries which understand the potential of IoT implementation are more likely to flourish and drive innovation in the niche during the next decade.

What is IoT?

IoT stands for Internet of Things which can be called as a network of physical objects which communicate and interact with each other as well as their environment through an internet connection. This simply means that with more number of devices around us being connected over the internet, it will enable companies to control them remotely, collect more amounts of data as well as enable automation.

The effect of IoT has increased drastically across different industries today. The way IoT has revolutionized them and is playing a key role in its progress has to be well noted.

IoT in Manufacturing

The contribution of IoT in the manufacturing industry is very high and you can say that it is the one that enjoys the highest IoT investment. The investment is taking place at two levels. One is working towards cost reduction and optimizing systems called as inward facing and the other is towards improving customer usage called as outward facing. 

Manufacturers are making use of IoT to carry on predictive maintenance, optimize their processes and to monitor equipment. In order to enhance the productivity and efficiency of manufacturing operations, the use of IoT devices in terms of smart manufacturing is playing a huge role. Smart manufacturing is all about making the existing manufacturing equipment equipped with sensors. This may not be required with the new manufacturing equipment as they have such sensors pre-installed. 

Smart planning is all about offering the supply chain with the smart floor. Information can be captured in real-time and actionable insights can be put to use. Smart manufacturing is all about covering each and every area in manufacturing, which includes plant operations, inventory control product design, demand & supply management, etc. With smart manufacturing, manufacturers get complete visibility of the business which helps them to optimize the supply and demand chain while streamlining the business processes. 

IoT in Transportation

If we try to look into IoT investment, then you will find that IoT holds the second highest position in this arena. One of the best gifts that we have from IoT is self-driving cars. Some of the big names in the industry like Uber, BMW, Ford, GM, and Google have been heavily investing in this area to make use of innovative technologies to come up with self-driving cars. Such kind of self-driving cars will simplify transportation, reduce pollution and even save more lives by preventing accidents. 

More number of public transportation and freight vehicles is using sensors to optimize fuel consumption, schedule maintenance and fleet management. Even some of the vehicles come with digital data recorders which record driving under heavy acceleration so as to indicate the driver of any fatal accidents which might occur. 

IoT in Agriculture

By using IoT technologies, farming and agriculture have been able to make greater benefits. With the help of IoT device installations, the farmers are able to collect valuable data which reveals about their livestock and crops in a number of ways. They can survey land using drones and even measure the resources available on the farms. When all these things come together, it helps the farmers with a new way of carrying out things like precision farming. The role of IoT in agriculture and farming will increase significantly as the demand for food keeps on increasing. 

IoT impacting Healthcare

As per many experts, it has been said that the healthcare industry is going to be one of the main areas where spending on IoT will be considerably high. We already have a number of equipment which does things in a better way like share patient reports and images, helps with ICU management, real-time location systems, finding problems and troubleshooting and medicine dispensing. It is possible for IoT to streamline the data coming from medical service providers and send them back with the help of technologies like mobility solutions and wearables. 

When medical devices are connected with IoT sensors, the doctors will get right information delivered that too with reduced errors. This positively affects the quality of service and diagnosis process. The use of smart beds is also increasing across a number of hospitals. Such beds are capable of sensing the patient and adjusting it automatically so as to offer proper support. 

Improving patient care at homes is possible using IoT applications. Smart medication dispensers can notify the patient automatically when it is time to take the medicines and can also be used to upload the reports on the cloud platform for the doctors to check and make changes in the dose. 

IoT has proved itself and so it is going to stay here for a long time. The use of IoT across the healthcare industry will keep improving as they are looking for better ways to leverage technology so as to improve efficiency. With data sharing becoming simpler in the coming times, the use of IoT applications across the sector will grow too. 

IoT in Retail

What if one day you don’t have to worry about the shortage of supplies in your fridge? What if it can order the items on its own when the stock in the fridge starts to go low? The potential of IoT in the retail industry is high. It is time for us to face smart retailing. A smart supply chain which is based on IoT already exists. There are applications for automated delivery systems, real-time inventory management, product tracking, auto-billing, etc. and here, new trends are visible fast. 

With a smart retail store, it is possible to analyze and understand the shopping journey of the customers through footfalls. Earlier, businesses carried out long surveys to understand the market demands and this was an expensive affair. Now the use of foot-traffic monitoring has increased as a part of smart stores to analyze the areas where the customer is having a problem with finding goods and which are the best selling products. This way it will become possible to assign an executive to the customer so as to help with quick shopping. Based on store traffic monitoring, businesses can improve the in-store shopping experience. This way, by making use of mobile devices, retailers will have a better chance to engage customers and implement new digital marketing strategies. 

With the online marketplace growing exponentially, retailers are looking for ways to grab the attention of the customers and bring them to their stores. For the same, they need to get their hand on data and analytics, which can help them increase footfalls. Based on the data and analytics, IoT can help retailers make the right decisions. Keeping it short, retailers should focus on using IoT applications which can be used to serve the customers in an enhanced manner. 

IoT in Fintech

When we talk of fintech businesses or financial services organizations, their main concern is security. This is the reason why they depend on the network of visual sensors and cameras, which can offer them reliable facilities. When it comes to IoT deployment, the financial services organizations are quite good in numbers and even they are good at visual analytics adoption. Financial companies are going for mobile phones as their endpoint choice along with sensors and cameras. When it comes to IoT implementation, financial forms have many goals to achieve, but the main one is to have better connectivity for their networks as well as employ greater security for their services. 

IoT in Smart Homes & Buildings

IoT has greatly influenced the way we live and work. If we talk about living space, IoT has brought to light the concept of the smart home automation system. This system is all about different connected products which work towards making life more convenient, more comfortable and more pleasant. By using intelligent homes, it becomes possible for the homeowners to build up a pleasant environment within the four walls while working towards efficient energy management and enhanced security through proper customization. To build and monitor smart homes, a number of IoT technologies are available. 

Some of the leading consumer product manufacturing companies in the market are Philips, Haier, and Amazon. You can get news headlines to read to you while you are working, by asking Alexa, the voice assistant of Amazon Echo. 

A perfect example of a smart home design is Philips Hue. This bulb offers you 600 to 800 color lumens to choose from. It can change based on your mood. This product is compatible with other smart home platforms like Apple’s iPhone Home Kit and Amazon Echo. 

In the coming years, the number of smart home devices is going to go high. The smart appliances will includes washing machines, refrigerators, TV, dryers, etc. Then you have smart home energy equipment which provides for thermostats and smart lighting while smart home security systems which include cameras, sensors, alarm systems, etc. Saving energy and reduction in electricity costs can be seen as the major advantage of IoT implementation in smart home concept. 

IoT impact on energy

One of the early adopters of IoT is the utility industry. It is possible to make a better recording of energy consumption using smart meters. This will help the companies offering utility services to efficiently and accurately bill their customers based on consumption. 

Moreover, with the help of smart meters, it will become possible to track down and send back to the grid the amount of energy the users of green technologies consume. And based on that, credit them and pay some incentives as a part of encouraging them towards using environment-friendly options. 

Conclusion

If you are looking for the next level of automation, then IoT is the answer. In the coming time, IoT implementation will become more comfortable with the innovation of new technologies and it will make things faster and secure too. This makes life better at home, as well as at work. IoT is adding in more and more things to the digital environment and it is to make everything easy right from smart kitchen to smart offices, smart traffic to smart parking spaces.

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