IoT Applications span virtually every industry and vertical, ranging from healthcare to transportation, retail to manufacturing. Specific implementations include smart utility tools that track and optimize energy consumption in buildings; asset tracking tools that can trace goods transportation, control inventory, and measure sales; healthcare applications on various wearable devices connected to Medical IoT; advanced logistical tracking systems that improve the efficiency of the entire supply chain; and sensor-driven smart tools with predictive machine learning algorithms that support real-time insights into business data.
IoT applications help companies realize the potential of the Internet of Things, connecting smart devices and transmitting data from the edge of the network. Businesses are using IoT applications to improve business processes and extend control of operations at each step of the supply chain, as well as to increase employee productivity and efficiency. Also, companies across all sectors are using IoT applications to drive new business models and revenue streams, developing products and services based on collecting—and responding to—real-time data on equipment, products, and customer behavior.