The Internet of Things is fast becoming a fixture of all our lives, as everyday devices in consumers’ homes and in businesses are connected to the internet and generate data.
The IoT is an evolving concept and is also an increasingly complex organism, as more devices — and more kinds of devices — are created with connectivity baked in from the beginning. Indeed, research firm Gartner estimates there will be 21 billion connected things in use by 2020.
Which industries are being reshaped by the IoT? Almost every kind of business is being impacted in some way, but several are undergoing transformation on a wide scale. Manufacturers are connecting machines in factories to gain more insight into their processes and boost productivity and efficiency. Healthcare firms are using IoT to track patients’ medication and treatment histories, streamline admissions and improve quality of care. Retailers are taking advantage of beacon technology and radio-frequency identification tags to manage inventory and pinpoint specific customer needs.
Overall, the IoT is an organic technology development that continues to spread around the globe and touch more aspects of consumers’ lives and the businesses with which they interact.
Take a look at the infographic below to see how the IoT is changing the way business gets done.
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