Understanding The Benefits Of Industrial Internet Of Things

Posted by oodlestechnologies on February 18th, 2020

The advent of the Internet of things (IoT) is changing the way businesses work. Its impact is visible in asset tracking, product manufacturing, designing, and healthcare, etc. Various businesses use IoT technology for office automation, data analysis, etc. Integrating IoT enabled devices to your businesses can help you stay ahead of the curve. We as an IoT application development company receive requests for integrating smart IoT solutions for warehouse management. 

According to a Forbes survey, healthcare, manufacturing, and financial services are the leaders in using IoT technology. Businesses are connecting IoT capabilities with other powerful technologies like Artificial Intelligence and Big data analytics to maximize business benefits. 58% of survey correspondents in the financial services sector were reported developing IoT initiatives followed by healthcare organizations with 55%. The proliferation of IoT systems is visible in the manufacturing and financial services sector with 47% and 42% respectively. 

According to the MarketsAndMarkets IoT market is projected to reach over 0 billion by 2022. Our IoT app development experts have collaborated with various real-estate builders to turn a simple home to a smart home. 

How is IoT Deriving Industries?  

Financial Services: Various financial services organizations are using IoT technology to ensure security. These businesses use visual sensors and networks of cameras to ensure the viability of their facilities.  

  • In banking billions of systems are connected. The intelligent systems and devices share data on the cloud to analyze, collect data, and transform the banking sector or businesses. 
  • One of the core benefits of IoT in banking is that it offers reward points, enables easy access to all banking services to credit and debit cardholders, etc. The use of IoT in the banking sector is used to analyze the use of ATM kiosks in specific areas.  
  • IoT data is used by banks to provide more flexibility and on-demand services available to the customers. 

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