As the Internet of Things (IoT) continues to evolve across different areas, global industries start investing in this technology to procure the benefits across their operations. This is all done to leverage the benefits by improving the existing system and bringing better methods that are more productive and effective. Taking this forward, here we will take a look over the top five industries that have been leveraging the benefits of IoT.
The manufacturing sector is one of the largest industries where IoT is now finding application. Manufacturers and the industrialists are now investing heavily in this field and employing IoT for optimizing their processes, monitoring the health of the equipment, and conduct predictive and preventive maintenance on that equipment. As per the leading market research company, IDC, there was an investment of $102.5 billion in the year 2016 in the manufacturing sector for upgrading it with the IoT technology (Source: International Data Corporation Report, 2016).
Another area where we can find the application of IoT is the transportation and Logistics Industry. Here, IoT is employed for tracking the vehicle, schedule maintenance, track the temperature to ensure that the goods are in required conditions, and optimize fuel consumption.
Energy and Utilities
Next comes the Energy and utility industry where IoT is widely used across the drilling lines, tracking the energy consumption, and monitoring the energy distribution. Thereby, it assists in preventing the wastage of energy, procuring a safer operating environment, and optimizing the energy distribution.
IoT has not only improved the lifesaving potential of the people in the healthcare sector but has also helped in tracking the real-time information about a machine or health equipment and based on that provide the necessary assistance within the applicable time.
Automated vehicles and electronic industry
If we talk about future cars, then it’s more towards automation, rather than manual handling and in this direction, IoT has been playing an important role. Other than this, there has been significant growth across the connected devices and other such electronic goods, and in that field too, IoT has been playing an important part.
Overall, if we observe at the macroscopic level, then, we would be able to find a vast usage of IoT across different sectors, which eventually reflects how important this technology is for the modern-day industries and thereby, signifies its growth in the future.