Changes in technology brought in working solutions to the world. In fact, the Internet of Things (IoT) disrupted how people approach data and leverage it.
IoT is an emerging technology that exists almost everywhere. The influence is so huge that enterprises and industries are not having second thoughts on investing, with the most prominent companies, such as Amazon, Samsung, and IBM, already integrating it into their services and devices. Even small businesses are prioritizing investing more on the internet of things than cybersecurity.
Transformation is coming: The Continous Growth of IoT
According to a survey from GSMA Intelligence, a source for worldwide industry metrics, IoT connections would reach approximately 25 billion in 2025. Part of this growth is because of enterprise growth, accounting for 54% of all IoT connections.
In addition to this, the survey revealed that smart manufacturing would have a rapid increase. The reason for the rise is that Industry 4.0 initiatives and manufacturers are willing to use IoT to streamline their operations and productions as well as increase efficiency and productivity. Industry 4.0., also known as the fourth industrial revolution, is the term used to describe the era of automation and data exchange, the internet of things, artificial intelligence, cloud computing, cyber-physical systems, and more.
As mentioned before, many industries and enterprises in different sizes are taking notice of the internet of things; therefore, starting to invest and deploy devices in the IoT ecosystem. In GSMA Intelligence’s survey, 60% of participants answered that they are already using IoT solutions with the reason of it being a part of their digital transformation strategies. Those mostly belonging to the utilities, manufacturing, and automotive industries saw the internet of things as transformational for their enterprises.
The Future of IoT in Enterprises and Industries
Each enterprise has its own reasons for using emerging technology. Despite the differences, there are still similar paths that the internet of things paved for them. With the use of IoT, enterprises and industry players were able to save on resources, connect devices for data sharing to streamline business processes, increase productivity, and come up with better ways to deliver their products and services.
Yes, there are still challenges that remain, and a majority of these challenges involve costs, integration, and security and privacy, but technology evolves. Through time, there is no doubt that there will be more and more IoT vendors willing to take part in creating solutions to solve the remaining pain points of both enterprises and industries face when transitioning from traditional to digital methods and processes.