The Biggest Opportunities for IoT Innovation

It appears that the world has reached that stage in IT development, where the Internet of Things (IoT) has become more than just a trend. It has now become an indispensable technology that influences everything it touches. The field which began as a basic infrastructure that connects a few devices with sensors has now grown into a huge trillion-dollar industry. And this is not only in the United States but also in parts of the world like India, the United Kingdom, China, etc. Indeed, the industry is exploding with tremendous revenue and opportunities.

IoT innovation is paving way for newer avenues in the scene of the IT industry all over the world in tandem with Data Science and Big Data. Regardless, innovations are still being developed and are taking place all around the globe, where numerous researchers and experts are working on real-life issues and devising technical solutions.

( Also Read: The Biggest IoT Trends In 2021 )

In our contemporary world, if the Internet of Things stays relevant to the IT lifestyle, there are 4 great opportunities in front of it and awaiting innovation. Let’s take a look at them.

1. Agriculture

   Most of us are aware that the agricultural industry in India has been in a bad shape for some time now. As a country that largely depends on monsoon for the irrigation of crops, we are in dire need of a solution that would increase the quality of crop yields, reduce water requirements and allow farmers to make well-informed decisions on produce to harvest.

   With sensors and data, we can achieve this and in places like Andhra Pradesh, smart farming is completely possible, as farmers are being trained on utilizing technology for agriculture. With sensors, smartphones, controllers, and apps, farmers are able to control farm conditions remotely and execute accurate irrigation for a better harvest.

2. Energy Consumption

   Energy consumption is another big challenge facing us today. With an increasing population, we no longer have a track of current energy consumption, and our lethargic attitude hinders us from caring much about the environment. Consequently, we rely on technology to provide an ideal solution in such cases, and thankfully, it does.

   Through IoT innovation, we can easily limit our consumption of fuel and electricity. Smart illumination and smart homes are all built and designed to turn off automatically when no one is in the room and also provide real-time updates concerning energy consumption. As a result of this, we would stop taking energy requirements for granted and it opens us an avenue to make better decisions on fuel and electricity usage.

3. Healthcare

   Healthcare is perhaps the most crucial of all basic needs and it is quite unfortunate to admit that there are countless fake medicines out there in the market. Even worse is that people are oblivious of these counterfeit medicines and consume them without knowing it. This is a big problem that IoT has the potential to alleviate.

   On the brighter side, there are certain organizations working on providing genuine drugs by utilizing IoT architectures and QR codes to determine the authenticity of pharmaceutical purchases. If more people have access to this, we can permanently do away with counterfeit medicines.

4. Transportation

   The rise of connected cars is becoming more visible in the market. High-end models which are connected to the internet now allow you to use a smartphone application for several usages. On the other hand, additional innovation in this aspect can add more value to owners when it comes to emissions per trip, fuel usage, spare part malfunctioning or notifications on a car, driver behavior, social media sharing, geographic locations, speed limiter, door, and trunk lock/unlock, and more. As a matter of fact, functionalities to incorporate carpooling facilities can also impact the environment significantly and we are positive that this would become a reality soon.

Final Thoughts

While there are tons of other opportunities out there, we strongly believe these areas hold the greatest potentials today. Does your business function under any of these industries? Then you should consider implementing IoT innovation in your business processes so as to transform the industry and have an edge in the increasingly competitive global market.