While IoT applications are limitless, several key vertical markets are emerging as areas where it is likely to scale first, offering major benefits for people and businesses alike. These foundational Internet of Things markets serve as proving grounds where research organizations, companies, and individual developers can explore the possibilities of what the Internet of Things can deliver.
The Internet of Things has wide application in making utilities and public services more efficient by giving homeowners, building managers, and city planners more data around trends and fluctuations in utility use. This data enables actionable insights that can have a positive impact, both financially and on environmental resource consumption. When you hear terms like smart home, smart building, and smart city, it is the highly granular level of tracking and optimization of utility usage that IoT adopters are looking to achieve.
Companies moving large quantities of goods are adopting IoT by putting sensors on products or containers to keep track of goods on the move. In addition to making sure product loss is minimal, by using smart devices companies can also take accurate measurements of how well goods are selling or where they are being moved in real time. Retail, manufacturing, and agriculture are just three examples of industries that can leverage IoT asset tracking to their benefit.
The Internet of Things provides intelligence that enables the most advanced logistical tracking systems. Smart logistics practices are now helping companies make better use of their employees’ time and carry out cost-saving strategies made possible from information collected through IoT. Businesses can also move more nimbly in the market and pivot faster in the face of ever-changing supply chains.
The Internet of Things is transforming places into more efficient and productive physical spaces. Networked wireless sensors allow companies to monitor buildings, parking, storage and meeting rooms to make better use of space and to manage energy consumption. For example, systems can sense and report a just-vacated conference room, freeing the space for others to use. In the home, intelligent systems detect exterior light and adjust internal lighting for maximum efficiency and energy conservation. From the biggest cities to the smallest rooms, connected spaces are making the world a smarter place.