IoT is not only gadgets but an excellent opportunity in B2B
The global Internet of Things market is growing rapidly. According to the IDC research, it has reached $646 billion in 2018 and will surpass a $1 trillion mark in 2022.
But don’t think it is just an effort of mass-market devices. The biggest growth drivers are enterprise and SMB markets. It is a brilliant way to cut operational expenses in the fields where traditional automation tools won’t work or work inefficiently. The McKinsey researchers claim that in 2025 the stake of B2B in the global IoT market will reach 70%.
What Internet of Things means for businesses?
The definition of the Internet of Things varies from source to source, which leads to both incomprehension and distrust. We have compared several different definitions from the trusted sources and passed the result through the prism of our own experience.
The Internet of Things is a concept where different devices are connected between each other using the Internet and exchanging the data independently from humans. The idea makes it possible to naturally reinvent both economic and social processes, making them massively more efficient.
As you can see, it means real automation compared with what we used to mean of it. Connected devices are able to act fully independent, consuming just a bit of electricity. Another essential feature is that connected devices can react to different changes and make decisions almost immediately 24/7. Needless to say how painful and expensive such delays can be for the business.
What parts the IoT ecosystem contains?
For a better understanding, parts of the IoT should be described in detail. Not all of the parts described below are essential, as well.
Sensors are devices that collect data from the environment. It may be temperature, humidity, light, speed, or, for example, blood pressure in medical tech. In other words, everything that is needed to be collected is collecting by sensors.
Actuators are those that do the specific function of the «things». It may be switcher that turns something on or off depending on the signal it got from via the Internet.
A connection is a part that ties different devices. It uses Internet connection using Wi-Fi, GSM, or any other technology matching to the specific situation.
Gateway receives the data from the different devices and acts as a bridge to the cloud.
The cloud is a server where all the data is gathering and processing.
The user interface is the only part of the IoT ecosystem where people are able to interfere with it. Here are the tools for making all the necessary changes in the program code.
IoT implementation in different business domains
There are plenty of improvements that businesses can get using the Internet of Things tools and solutions. Here are just a part of them.
Healthcare
IoT has great potential in the healthcare industry. The list of possible enhancements shown below is not full.
- Remote monitoring of patients, disabled, and elderly in hospitals, hospices, and nursing homes.
- Better diagnostics thanks to broader data coverage and their real-time processing.
- More efficient asset management by tracking of medical equipment.
- Enhanced treatment of chronic diseases thanks to wearables using IoT.
- Smart hospital systems using the traditional automating IT solutions coupled with IoT sensors.
Agriculture
Agriculture is the least efficient business field globally. Currently, it is standing at the threshold of sweeping changes. Here are some use cases.
- Weather conditions monitoring helps to bring agility into the agricultural processes (so-called precision farming).
- Crop management tools are intended to collect more data from the fields and prevent diseases.
- Greenhouse automation is a way to the better management of crops in the protected ground.
- Cattle monitoring makes it possible to control animal health and condition much more efficiently.
- End-to-end agricultural solutions combine different tools and methods to eliminate efficiency flaws at different stages.
Project Examples: The selective appliance of fertilizers based on data from sensors, implemented by OneSoil, helps farmers to cut down expenses on up to $70,000 per one tractor per season.
Construction
Another one underdeveloped industry is construction. IoT is one of the leading techs that can help to revolutionize it.
- Smart sensors and UAVs help to control different parameters at the construction site and prevent accidents.
- Using concrete curing sensors makes it possible to raise the quality of construction and cut the costs of warranty.
- Automated data collection and processing is a way to make smart decisions and avoid operational mistakes.
- Asset management using IoT sensors helps to eliminate thefts and cut down the defect ratio.
Automotive industry and logistics
Connected cars are the domain which is more or less famous worldwide. But there is much more to come.
- Vehicle tracking systems help to eliminate fuel thefts, drastically improving fleet efficiency.
- Real-time traffic situation updates also help to increase the efficiency of the fleet.
- Safe driving is a string of tools to control drivers’ behavior and prevent accidents. It includes seatbelt usage, in-lane and speeding control, drowsiness and collisions control, etc.
- Infotainment in-car systems allow drivers to spend less time covering their needs during the ride.
- Proactive maintenance solutions are the IoT tools that help to keep the functional health status of equipment for less money than using traditional ways. Moreover, it allows companies to lower fleet downtimes thanks to the early detection of technical issues.
Manufacturing
For the industrial domain, the IoT solutions open hordes of different opportunities.
- Smart sensors, when installed on the manufacturing equipment, help to decrease manifold the defect ratio, breakdowns, as well as load imbalance.
- Other IoT-based sensors make it possible to reduce the number of industrial accidents.
- Energy consumption and pollution control tools are the way to make facilities both greener and more efficient.
- IoT solutions help to make mineral production much safer, as well as to cut down expenses. In many cases, it allows businesses to start extracting at those minefields that previously were sub-economic.
What we can offer:
IoT-related research and consulting
Having a clear understanding of the opportunities your business will get with IoT is one of the keys to success. Our experts will carefully research your business processes and find growth areas.
Development and Implementation
A development contractor you can fully rely on is another one success factor. Our recent experience will help you to avoid critical mistakes and finally get the result that equals the needs of the business. We know much about possible issues and how to handle them. Below you can learn more regarding them.
Analytics and reports
Fully automated devices don’t mean they shouldn’t be under your control. Moreover, people are able to see what machines aren’t, and take decisions doing business processes even better. Getting, analyzing and presenting data from the connected devices is another great opportunity not to be missed.
Maintenance and rework
Even already implemented IoT solutions often have flaws: it is harder to detect bugs due to automation. Or, if the business conditions changed, the solution should be changed too. We are ready to set your legacy in accordance with the actual situation.
Cybersecurity
A permanent connection opens a way for data breaches. In one case it isn’t necessary, but in others, you should worry about them for sure. For a better understanding, Custom solutions we develop can be as secure as the specific situation requires. Moreover, there are no knowing vulnerabilities in the custom code, which makes the chance of breach less possible.
Integrations and standards compliance
The best way to be sure that interactions among different devices will run smoothly is public standard compliance. We understand the importance of it and have enough experience in bringing software compliant. But if the matching standard is lacking, we will develop, test, and correct the integration until it works fine.
Finally
The topic is rather hefty and complex. If you are still in doubts, will the IoT be helpful specifically for your business, let’s discuss your situation in details. Just fill in the form below, and together we’ll find the possible growth points for sure!