IoT in supply chain is gradually transforming the warehouses and logistics industry in a positive direction. This article will clarify this statement.
The Most Popular Applications of Internet of Things
Have you ever thought about how your smartwatch or smart appliances are part of a larger Internet of Things (IoT) ecosystem? The dramatic growth in the usage of IoT devices over the past few years has normalized its presence in our life so much so that we tend to forget it has made noticeable advancements over the decade. There are now over 100 million IoT-connected devices in major industries like government, electricity, gas, steam, air conditioning, water supply, waste management, retail and wholesale, transportation, and storage.
The massive number of IoT and IoT (Industrial Internet of Things) devices have proved that the application of Internet of Things is versatile and important.
Why Are the Applications of the Internet of Things So Widespread?
Simply put, the Internet of Things or IoT is a network composed of physical objects, referred to as “things,” that are equipped with sensors, programming, and other components in order to communicate and exchange information with other electronic, smart devices and systems via the Internet. These objects can range from mundane household items to sophisticated industrial equipment.
After understanding what IoT is, the next question we need to answer is why major sectors are utilizing IoT and how they benefit from it. We will only be going through the advantages shortly in this article, but if you would like a deeper dive, check out our article to understand how organizations stand to benefit from IoT.
The exchange of information between devices generates mountains of raw data each day. Organizations collect data and analyze it to make decisions or adjustments to their business strategies.
As you will see later in this article, IoT automates manual tasks. This automation could be as simple as setting a timer to automatically send a message on your smartphone or scheduling digital payments. Automation at a larger scale, like manufacturing, cuts down labor costs and waste.
This is another commonly used function of IoT. Not only does real-time tracking enhances visibility into high-valued assets or the manufacturing chain, but it also boosts productivity as unwanted changes are detected and handled quickly, minimizing downtime and saving businesses large sums of money.
Applications of Internet of Things
It is worth noting that IoT alone already holds endless potential, but when it is paired with other tech like big data or edge computing, there is so much more that you can do and achieve to stay in the curve.
At the time of this article, there are most certainly more and more IoT applications being developed and tested. However, we would only go through some of the most common usages.
Remote Asset Monitoring and Control
One usage of IoT solutions is remote monitoring and control. The information from IoT sensors in systems and machines is used to deliver precise and immediate insights into the performance of the equipment.
IoT systems give consistent and real-time visibility into the operations leading to well-informed decisions. This boosts overall productivity and saves costs in the long-time. One of the most notable advantages of remote asset monitoring and control is that decisions and adjustments can be made safely and quickly from any location thanks to data transmission from IoT devices.
A smart city is a city that uses cutting-edge technology, such as a sizable network of sensors and linked devices, to collect real-time data and increase the effectiveness of public services while conserving resources. Some of the top smart cities in the world are Singapore, Zurich (Switzerland), New York (United States), etc.
Technologies that enable a smart city’s sophisticated services are the Internet of Things, edge computing, big data, cloud computing, artificial intelligence (AI), machine learning (ML), and the list goes on.
Smart cities create a sustainable and inclusive urban environment. It is achieved by a range of smart city initiatives.
Smart Waste Management System
With the help of IoT technology, authorities can make waste-related informed decisions: how to handle it, what is the best way to clean it, and what future planning should look like.
Facility managers use IoT sensors to remotely monitor people in the building and resource usage, minimizing waste and operational costs.
Smart Parking Solutions
Smart parking is all about helping the driver to find parking, paying for it, or figuring out how long it’ll take to get there.
Smart Traffic Management
Applications like Google Maps or Waze collect and exchange data from cars utilizing mobile devices as sensors. Other than contributing to traffic monitoring, users can use the information provided to avoid peak hours and take alternative fast and fuel-efficient routes or estimate arrival times.
Another IoT remote asset monitor and control application is the smart grid. A smart grid is a type of electricity network that utilizes digital and other cutting-edge technologies to monitor and control the flow of electricity from all sources to meet the changing electricity requirements of end users.
It coordinates the requirements and capabilities of all operators, generators, end users, and electricity market participants to optimize the functioning of all components while reducing costs and environmental effects.
The Internet of Things (IoT) use in a smart home makes it possible to link up all your home devices, like ACs, lights, doors, thermostats, theft alarms, and more, into one system. You have all the control you need with just a tap on your phone.
Vehicle Fleet Management
The supply chain is made up of many levels of complexity, and managing them efficiently often necessitates the use of tools and technologies like the Internet of Things.
The advantages of IoT technology sensors incorporation into fleet vehicles include geolocation optimization, fuel reduction, pollution mitigation, and performance monitoring. Additionally, IoT creates a comprehensive network between operators, vehicles, and drivers.
Real-time maintenance alarms clear up head space for drivers, helping them keep track of any necessary data. The implementation of real-time maintenance alarms eliminates the need for drivers to manually detect maintenance issues. It is extremely helpful when it comes to maintenance management.
This application of the Internet of Things is probably the one that most people are familiar with. An example of wearable technology is a smartwatch. If you have one, you are probably aware that it collects information regarding your heart rate, number of steps in a day, calories burned, etc., and in turn, the systems analyze data to give you personalized suggestions. You can also use it to make calls, access entertaining mobile apps, and so on.
In one way or another, such a smart device plays a role in improving your health, entertainment, and network connectivity.
The continuous disruptions over the past few years have made food security an increasing concern for all nations. This is where technology can step in to help - especially the Internet of Things. IoT systems help farmers boost their profit margins. IoT sensors and devices do so, for example, by utilizing a smart greenhouse: Monitoring soil moisture, nutrients, and CO2 levels, and by using the data, farmers can modify the temperature and humidity in the greenhouse to promote the optimum growth of their crops.
This data, along with suitable adjustments to the weather, leads to energy saving and water and more efficient fertilizer systems and irrigations.
The healthcare industry relies a lot on the data provided by caretakers and patients to make diagnoses and other important medical decisions. With the implementation of IoT equipment, healthcare professionals can remotely monitor their patient’s vital data like heart rate, blood pressure, and ECG and be alerted when the patients’ are in danger. Sometimes, the difference between life and death is only one fast response.
Manufacturing and Predictive Maintenance
Another industry where IoT has a huge impact is manufacturing. Industrial IoT in manufacturing employs the technology to:
- Track industrial output.
- Map workload with the use of IoT sensors on equipment.
- Cut down on waste and lost time by identifying production line bottlenecks.
- Manage and regulate physical access to facilities with staff ID badges or wearable devices that have RFID chips.
- Offer Predictive Maintenance: IoT sensors let operators track how fast the operation wears down to carry out essential maintenance. This prevents any unwanted downtime and negative effect on the bottom line.
The Future of IoT Applications
Over the past ten years, there has been a discernible transition from non-IoT to IoT devices. In fact, it is predicted that by 2030, IoT devices will make up 75% of all gadgets.
The spending on IoT in 2023 is expected to surpass $1 trillion, continuing its market growth year by year.
These figures indicate that the Internet of Things has permeated every aspect of our lives. There is no turning around. It is time for us to embrace this technological revolution that helps us mold the future.
Why not begin by learning more about the Internet of Things to help your team better grasp how to utilize it? It always helps to have professionals around who care about your best interests, like the Orient Software team. Remember, IoT can go hand in hand with other technologies to push your company forward. It is time you find out how to do it. Contact us now.
If you want to build the perfect IoT solution for your business, start with the right IoT technology stack first.
Although IoT and big data are two different concepts, they complement each other to serve beneficial purposes for businesses.
With all those smart devices in possession, how do you keep your data safe? IoT security solutions are the answer you are looking for.
Set your company up for success by understanding the ins and outs of IoT platforms and how to choose one that best fits your business strategy.