The impact of IoT on major industries and sectors

Mar 02 2023

The impact of IoT on major industries and sectors

As IoT adoption keeps increasing, studies indicate that there will be around 50 billion IoT devices connected across sectors and industries by 2030. Considering the continued rollout of this tech globally, across many sectors, some industries are leading in the deployment and investment of IoT based solutions

IoT in Healthcare:

IoT in healthcare is making this sector more patient-oriented than being dependent on people employed here. Data collection and management has helped in cost reduction for hospitals and healthcare organisations. It reduces failures, errors and wastage. It allows automation for better overall management.

IoT in Manufacturing:

IoT in manufacturing helps improve processes equipment monitoring and maintenance. It can prevent problems of delays, increase quality in production and in better resource allocation.

IoT in Agriculture:

Smart farming is now IoT enabled with sensors and devices monitoring temperature, humidity, light, etc. across agricultural fields and farms. It allows automating the field irrigation system and the farmer can monitor things from anywhere. The technology also helps in the planning and harvesting of crops and also for monitoring cattle or fowls.

IoT in Transportation & Logistics:

Transport and logistics organisations use IoT to become smarter and more successful in their business. The tech facilitates cost-savings, efficient travel, emission reduction, vehicle and traffic management. Route optimisation and route planning can save millions in money for transporters and fleet operators with the help of GPS and IoT tech.

IoT in Energy:

The energy market is a huge one and demand keeps increasing. IoT technology has revolutionised energy management and impacted the interaction between consumers and providers. IoT based innovative solutions have impacted grid balancing, remote monitoring of assets, smart decision making, process optimisation and forecasting.

IoT in Retail:

The retail business and supply chain management has been impacted by IoT increasingly with digitalisation and smartphone tech. Retailers and chain stores increase revenue both at premises and online, by improving customer experience and by improving their processes with digital connectivity and cloud based intelligent platform.

IoT in Finance:

IoT solutions have already pervaded into the finance industry. IoT has helped Banks to monitor customer activities, understand their economic needs and offer personalised customer relationship management. IoT helps to keep customer data secured and readily available. IoT helps to detect faults and solve them before they aggravate.

IoT in Municipal:

Local administration and public building managers have turned to IoT applications to run smart infrastructure. Smart solar street lighting is one such example, as it saves costs, labour and energy by using LED bulbs and timers. It also is a part of the Smart City projects.

IoT in Hospitality:

The hospitality industry has leveraged IoT technology to their advantage. It has personalised customer experience of guests and reduced waiting time. Guests can use smartphones or mobile devices to facilitate services. Customer data is collected and used by hotels and service providers to great advantage and mutual benefit.

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