IoT Technology: 6 Creative Ways of Utilizing It in Business

Not many people know much about IoT technology, yet there are certain companies that are using this technology in unique ways.

The IoT is an innovative technology used in various sectors for different objectives. From fields like digital marketing to asset tracking, IoT fits in a variety of applications as it is flexible, useful and easy to use.

What is IoT?

The Internet of Things (IoT) portrays the network of physical objects also referred to as  “things”. These objects or things are embedded with sensors, software, and other technologies.

The objective of connecting is to exchange information with different gadgets and systems over the internet protocol. These devices can range from ordinary household objects to sophisticated industrial tools.

If you are still underestimating the power of IoT, here is the market size of IoT as per data from Statista:

“The global market for the Internet of things (IoT) end-user solutions is expected to grow to 212 billion U.S. dollars in size by the end of 2019. The technology reached 100 billion dollars in market revenue for the first time in 2017, and forecasts suggest that this figure will grow to around 1.6 trillion by 2025.”

Scenarios where IoT technology is implemented uniquely

Also Read: How is IoT Useful in Your Business for Asset Management?

1. IoT for Pest Control

There are only a few companies that use technology to keep track of the pest population. For example, there are organizations that utilize IoT technology, combined with sensors or machine vision technology, to track pest populations in gardens, vineyards, and other agricultural settings.

In case the pest population rises, bait stations, traps, and cages are set up to inform users when pests have been trapped.

2. IoT for Aiding Wastage

The United States of America is estimated to produce around 230 million tons of garbage every year. However, new waste management solutions are more effective, more digitized, and more efficient, thanks to the Internet of Things.

Below are a few waste management initiatives bringing waste management from low-tech to high-tech:

There are several companies currently which provide waste management sensors installed on waste containers.

As per Cisco, in Barcelona alone, more than $4 billion in savings is expected in the next 10 years, due to the adoption of IoT-aided waste management technology.

Barcelona has achieved a wide range of benefits through investment in IoT for urban systems. It is a model city showcasing how IoT can be applied in innovative ways to solve major civic problems. The city's commitment to creating a smarter urban infrastructure is transforming the quality of life for its residents and visitors.

Without a doubt, Barcelona has accomplished a lot with IoT technology in order to improve its system. Many major cities can take a lesson from it in finding innovative ways to tackle major issues with IoT.

3. IoT for Health

IoT sensors and devices are used for tracking patient parameters and helping in treating patients effectively.

For instance, a band with an IoT sensor is girded around the hand of a patient. Through this sensor, the hospital keeps track of the patient and creates their records.

For in-patients, IoT can help the doctor to know if the patient is allergic to any medicine. The historical record of the patient also assists in cases of surgery, furnishing valuable information.

Through data, information can be retrieved if a disease is chronic or if a patient was admitted before for the same cause. Such questions enable doctors to understand the condition of patients and also handle emergencies.

The IoT can be also used for physical fitness and health tracking.

Also Read: 10 Genius and Creative Implementation of QR Codes

4. IoT for Driver Safety

Roads are lit up with street lights to provide visibility at night. When streets are not well maintained, it results in accidents, injuries, and loss of lives. Thousands of people lose their lives every year in road accidents.

According to the data, one death occurs every four minutes in India. Moreover, the related medical expenses run into billions, besides the property damage too.

Usage of mobile phones while driving is a major cause of accidents. The United States of America wants to decrease accidents linked to smartphone usage on the road. This problem is aimed to be solved with IoT technology.

There are American companies assisting the government toward this objective. They are utilizing IoT sensors with mobile phones to check driver behavior. When enough information is gathered, the application can offer instructions to drivers to take due care while driving.

5. IoT for Home Security

There are IoT devices available that incorporate cameras and microphones to the doorbell system. Such IoT devices make the doorbell more intelligent and secure the door entry. The role of IoT in security applications has made the technology a growing player in the residential sector.

Such IoT devices can be used via an application on the smartphone to coordinate the entire security equipment and remotely control the home from anywhere. This implies that the user can monitor the security of the property from any place.

The application of IoT in such areas is a far-reaching development and a futuristic sign of how quickly innovation is advancing and transforming our lives.

6. IoT for Asset Management

With the assistance of IoT, an organization has the capability to optimize asset performance. IoT sensors keep track of asset performance. With such information, the organization can make the appropriate decision in order to save expenses and extend the life of an asset.

Asset tracking management is very important to keep up the productivity and growth of the organization. IoT enables us to get real-time information on assets, thereby ensuring the security and safety of the asset.

The benefit of IoT asset management includes improvement in productivity and efficiency. It will lead your business to a better position & increase return on investment.

Also Read: What Is IoT and How Is It Helpful in Asset Management?

Conclusion

Installing a new system in an organization can be a challenging task. It involves migrating from old data, train personnel on usage, change work behavior for using a new system, besides being time-consuming. The good thing about IoT is the instant transfer of data.

Overall, the Internet of Things is a truly exciting innovation. The IoT has also made asset tracking easy, simple and user-friendly.

Therefore, IoT plays a critical role in the working of enterprises. There is every benefit to be gained from IoT technology and it is worth giving a shot.