Internet of Things Adoption & Steady Growth in different Industries

In 2016 there has been a steady growth with the Internet of Things adoption with over 6.4 billion connected devices, the numbers are up 30% from 2015 and by 2020 the market expects to see 20 billion connected devices. That number, although impressive is a bit shy from the early forecasts in 2013 and 2014 with estimates as high as 50 billion by some market analysts, ultimately adoption is spreading to more industries every day.

Internet of Things Adoption & Steady Growth in different Industries

The possibilities are limitless with an Internet of Things solution for all industries with cost savings benefits, efficiency in processes, safety, data acquisition for analysis, and even creating new revenue models, there are even scenarios that have not been defined as we are still in the infancy stage of IoT and have yet to understand the all of the potential opportunities that are out there.

In the coming months we will see more companies ramping up their IoT initiatives, as they are seeing the benefits of having wireless connectivity with their products to the cloud. Industries that have been slow to move forward with an IoT solutions are now taking steps to invest in them, as they are now realizing that wireless solutions with IoT is an extension of the web connecting our computers, sensors and the devices around us.

Different industries are changing their business strategies to include wireless communications to the cloud or the Internet of Things solution. Below are some major industries that have been slow to adopt IoT solution for many different reasons but are with changes in governance and technologies are now able to move forward.

Utilities – McKinsey Global Institute analysis finds, deregulation and new market entrants are expected to prompt greater investments in the future.

Healthcare – Tata Consultancy Services research find the industry has been slowed by regulatory and privacy concerns.

Wholesale Distribution – IoT promises to bring new technological capabilities that the industry did not have, opening up new sources of revenue.

Discrete Manufacturing – Industrial manufacturers will be able to remotely monitor their products and provide this functionality to their end client’s.

Retail – This industry has been working on digitizing since 2013 and are now making great steps to enable retailers to affix tags to goods, speeding up inventory tracking and shipments processing and reducing shrinkage, RFID Journal reports.

Logistics – The benefits are easy to see for the logistics industry, having the ability to monitor delivered good in a virtual environment and track that is priceless.

Process Manufacturing – Has always invested in technology to be more productive in supply chain management, investing in the Internet of Things is the next logical step to extend their investment in technology to reap the benefits for years to come.

The Internet of Things is having a major impact on many industries as the adoption rate increases; we are seeing that the technologies that are evolving and adapting to be a part of this wireless solution are the standards that will prevail in the Internet of Things. Blueapp.io is an adaptable IoT Solution for many industries like manufacturing, automation, lighting etc. Many IoT applications are already developed for our customers for various industries. For Further info please visit our applications page at our website blueapp.io.

 

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