The Internet of Things in the IT industry has gained popularity due to the global interconnectivity and collaboration of devices. Research indicates that the productivity of the companies can increase with IoT employment in routine workflows.
Moreover, the utilization of IoT technology can potentially provide advantages for both individuals and businesses. The automation of routine processes can be achieved through sensors, scanners, cameras, and software. This post examines the potential benefits of IoT in a business setting, use cases from different industries, and other essentials.
Why the Internet of Things is More Than Just a Buzzword
The Internet of Things (IoT) is a technology aiming to establish connectivity among the different objects and the exchange of information. The exchange is made possible through the use of specific protocols. After that, the data can be analyzed and used to trigger actions through prewritten scripts by devices.
Now, we’ll examine each component allowing IoT to perform data exchange.
Crucial components of the Internet of Things
Sensors gather accurate information and transmit it to a designated device. The device performs specific actions based on its programming.
For instance, the use of IoT sensors is widespread in agriculture. They possess the ability to measure the soil’s moisture level. The irrigation system will start watering once the ground reaches a specific dryness level, as detected by the sensor. The IoT network provides farmers with the ability to automate watering and decrease unnecessary expenses related to water.
Types of sensors used in IoT-equipped systems
Analytics. Sensors collect data daily, and your business may find some of this data helpful. To avoid using useless information, separating the valuable data first is essential. Analytics can help with this process.
IoT systems offer real-time data analysis and precise anomaly detection for end-users. Various companies utilize this data to enhance their growth potential.
Connectivity. IoT requires a wireless connection for devices that are not physically connected. Protocols commonly used include Wi-Fi, Bluetooth, and cellular networks (like 4G/5G). Choosing between them, you should remember they all have different levels of compatibility with devices. NFC and RFID protocols provide a limited range of connectivity.
NFC technology has a limited range of about 4 cm, but smartphones equipped with NFC modules can read data from multiple devices, making them versatile tools. Some facilities have utilized smartphones to exchange data with manufacturing equipment for monitoring purposes.
More IoT protocols to use
The Surprising Ways IoT Can Help Your Business Thrive
Now that you have a foundational understanding, it is beneficial to explore further the possibilities for IoT in business.
Let’s examine potential business ventures within the IoT industry. The Internet of Things is utilized in business to automate processes and reduce the need for human intervention. The implementation of IoT can aid entrepreneurs in increasing revenue across various sectors. The following business sectors can see advantages from implementing IoT solutions.
Retail
Our discussion will commence with the topic of the retail industry. Analysts use beacons and small radio transmitters to track customer locations and determine popular products. Analysts can improve customer satisfaction by analyzing data such as time spent near the counter, customer routes, and types of purchased goods and then focusing on meeting customers’ needs.
Additionally, beacons have the capability to be utilized for exit interviews in retail settings. Upon leaving the store, customers are prompted by an app to provide feedback on various aspects such as satisfaction level, ease of use, and expectations.
Agriculture
The IoT provides businesses with remote devices that can efficiently manage extensive land without affecting productivity. These devices assist farmers in physically demanding tasks such as plowing, fertilizing, and watering, making land use a significant aspect of farming.
Drones are often used in agriculture for IoT purposes. They have a capacity of up to 600 pounds for soil fertilization. For example, DJI company has created an agriculture drone that fertilizes 7-10 acres per hour faster than a human worker. Drones can fly pre-programmed routes on autopilot but still need supervision due to imperfect technology.
IoT benefits for agriculture
IoTs are also commonly used in agriculture, where smart sensors detect factors that impact crop growth, such as humidity, temperature, and pH levels. The data gathered is then analyzed to determine necessary action, such as adding fertilizers when nitrogen is lacking in the soil.
Industrial Business
IoT technology has numerous potential applications in manufacturing and industrial settings. Its versatility allows it to be compatible with various equipment due to its complex manufacturing processes. Businesses can monitor product quality, equipment conditions and gather analytical data with the help of industrial IoT startups.
How industrial business takes advantage from using IoT
A factory’s success depends on its equipment. More giant factories typically have more equipment, which can take time to repair when broken. Machine Vision, an Indonesian company, aids managers by tracking and analyzing equipment efficiency. Sensors offer insight into problems and their locations. It also enables the monitoring of multiple plants from a central location.
The use of the Internet of Things (IoT) in manufacturing allows for product quality monitoring, with defects being detected post-production. Implementation of intelligent solutions enables real-time tracking, facilitating prompt issue resolution and ensuring optimal product performance.
Healthcare
The integration of IoT in healthcare, mainly through wearables, has potential advantages for all stakeholders, making it a valuable asset for entrepreneurs and an essential component of customers’ daily routines.
Medical professionals can remotely monitor a patient’s condition with wearable devices (e.g., fitness trackers, scales, and smartphones). Doctors can track general statistics like heart rate and weight. If anything is abnormal, medical professionals can contact the patient for guidance. Custom software is crucial for an IoT network to work. An experienced software development company is essential for any IoT project.
The Findair asthma inhaler is equipped with a GPS module. If patients forget it, they receive a push notification on their phone. The device analyzes environmental data, identifying potential asthma attack triggers. A mobile app records inhaler usage history.
IoT in healthcare: what benefits it can bring
IoT could also be used in healthcare with a smart drug dispenser. The device gives medication to patients based on a predetermined schedule. The Hero dispenser sorts and organizes medicines without the need for user input. It also includes a manual drug access button.
Education
An analysis of IoT applications in the education sector indicates that it can benefit students and educators. Potential uses encompass security protocols, library management systems, communication resources, and other functionalities.
IoT for education: what aspects it can enhance
To keep children safe, schools have a security guard at the entrance. However, one person can’t monitor the entire facility. That’s where IoT solutions come in – IP cameras, motion sensors, and biometric scanners. By connecting this equipment, schools can prevent unauthorized access.
Geofencing is an IoT use case in education. It guides students through the building using beacons and a custom map. To use it, students download the map and enable geolocation on their phones. Geofencing accuracy ensures precise tracking of their position.
Implementing RFID tags and specialized software in classrooms can streamline attendance-taking and allow teachers to monitor and document student performance, including grades, strengths, and weaknesses.
If you still doubt as to IoT integration into your business, you can ask an experienced software development company handling IoT issues, for advice. They will fully consult you about all the tech concerns (you can get acquainted with the IT consulting rate basics before asking them for help).
The Risks and Challenges Associated With IoT
The Internet of Things (IoT) also has various challenges, including securing devices, scalability issues, and a lack of investments that can hinder network establishment. Further investigation of the potential problems is required.
Common risks and challenges of dealing with IoT
IoT Security Challenges
Cisco reports that 75% of vulnerabilities found were in IoT devices and networks. This means that IoT lacks reliable security standards, allowing hackers to access sensitive data. Ensuring security for each device while creating an IoT network is crucial. Two solutions to this problem exist. First, develop a custom security system with firewalls, two-step verification, encryption, etc. However, this requires hiring cybersecurity specialists and significant development time.
Top-tier IoT companies like Cisco, Darktrace, and Senrio offer turn-key products for enterprise-level IoT security. Ready-made solutions are available but may not be suitable for your specific needs. It’s important to decide what’s best for your situation.
Major security issues of utilizing IoT
Integration
One challenge in integrating IoT devices is their potential incompatibility with each other. This can happen regardless of industry. System failures may occur due to different manufacturers or operating systems. To avoid this, it’s recommended to stick to one manufacturer and build an ecosystem of similar devices. Devices from the same brand typically use common IoT protocols, eliminating compatibility issues.
Flexibility
IoT is a new technology for businesses. There are no guaranteed strategies or use cases yet. Success chances must be accurately measured, and companies must be creative. Many companies lack specialists to operate IoT systems. This means entrepreneurs need to outsource to a software development company to integrate and extend the network.
Lack of C-Level Support
Although IoT has clear benefits for businesses, some managers may not prioritize it due to misconceptions about its feasibility and implementation challenges. Additionally, competing priorities may also impact the adoption of IoT trends in companies.
The adoption of IoT technology is becoming increasingly crucial for businesses. Those who fail to integrate it may be at a disadvantage in the future. Companies stand to benefit financially by implementing IoT systems sooner rather than later. You can also succeed with IoT integration into your business if you you find an app developer (or a team of them) who will be enough skilled to help you deal with this know-how.
Summing Up
We’ve disclosed only the basics of IoT use in this post. If you want to have a broad picture, you should apply to a skilled software development company having hands-on experience with IoT integration. They will build and deliver a cutting-edge digital solution which will fulfill your needs and boost your business profitability.
