With the advent of cellular technology like 4G, enterprises have found potential in IoT deployment to open up new revenue streams and new business models.
Global businesses who are focusing on the challenges of digitization,while working on the goals they wished to achieve, turn to technologies that can best serve them and their customers to move on. This where cellular technology like 4G and 5G can play a critical role to help change the shape and potential of the business and even the entire industry.
Widespread rapid digitization
Enterprises have taken to digital transformation to achieve their goals for more than a decade. Now cellular technology has come a long way and is empowering Enterprise IoT to help explore a world of opportunities that probably did not exist earlier. Companies need to transform themselves by digital transformation to be future-proof and competitive in the present challenging market
Enterprises have to consider how digitization and technology can help to automate the products and business processes, besides making smart use of data analytics. They have to stay ahead overcoming threats, challenges and disruptions. Finally, they have to consider how they can achieve sustainability goals.
How Business needs to Transform, Evolve and Sustain.
From retailers to logistics and automobile companies, the enterprise IoT is crucial to adding new product or service features that were earlier seen in science fiction movies. Customers or consumers, expect products to be “connected” or “smart”. OEMs not able to satisfy this aspect will lose market share. They’ll also miss out on data that digital technology can provide them for improvement.
The main drivers today of enterprise IoT projects are efficiency and productivity. The level of optimization they achieve benefits them. For example,utility companies who have installed smart meters, eliminate manual work and gain cost benefits. Sustainability is a consideration that drives many factors. Society and government play a key role in the efforts of the OEMs in their aim to be socially and environmentally responsible.
Digital Technology for Security and Flexibility
Digitalisation has not only replaced manual work, but has created new business models. For example, digitization has transformed the taxi hailing business. Even industries are starting to follow the as-a-service model.
However, the most important concern for enterprises remains to be security as they roll out digitalised operations and connected machines or products. They have to pan from the outset so as to prevent cyber-attacks, data compromises or breaches, at the same time protect customer privacy an interests.
Flexibility is another consideration as the world of business is in a constant state of change. It is critical that products or services launched, respond to market needs or demands, but can scale up quickly, work at any place and are future-proof, so that they don’t become obsolete very soon.
Connectivity supports Enterprise IoT
Seamless connectivity is critical to deal with digital transformation. Cellular technology offers a convincing solution to the challenge of seamless connectivity. As products move from research to be developed and manufactured, to be later deployed and finally scrapped, connectivity is crucial for the whole life-cycle with data and visibility for OEMs. This is where cellular technology like 4G and 5G offers an answer to provide extensive penetration indoors to connect devises. This tech is highly scalable, reliable, secure and already proven in the field tests and pilots.The promise of 5G seems to open up more possibilities and creating a globally connected ecosystem. Throw in enhancements offered by AI and edge computing, there’s more potential to open up opportunities and facilitate success for revenue, products and services.
To Sum Up
There’s surely greater IoT support in future and also massive potential for backward compatibility and greater possibility for IoT retrofitting. We seem to have only scratched the surface of this potential technological ecosystem, given how rapidly IoT is getting adopted and innovated at commercial, consumer and enterprise levels.
Industry 4.0 is the term that we refer to explain our entering the fourth industrial revolution, potentially driven by technologies such as large-scale M2M communications, the IoT,application of AI and ML. Today’s businesses,services and industries are first to be influenced by IIoT technology. It aims to benefit all stakeholders involved in the digital ecosystem, offering to garnernew revenue streams and business growth.
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