IoT allows
companies to automate processes and reduce labor costs. This reduces the
amount of waste, improves the quality of services provided, reduces the cost of
the production process and logistics.
According to
IoT Analytics, in 2020, the highest level of penetration of IoT technology was
observed in transport, energy, retail, city life management, healthcare and
industry.
In the
power industry, the
Internet of Things improves the controllability of substations and transmission
lines through remote monitoring.
In healthcare, IoT allows you to move to a new
level of disease diagnosis - "smart" devices monitor patient health
indicators in the background.
In
agriculture, “smart”
farms and greenhouses dispense fertilizers and water themselves, and “smart”
animal trackers notify farmers in time not only about the location of animals,
but also about their health status, analyzing heartbeat, body temperature and
general activity.
In
transportation,
typical IoT solutions include telematics and smart fleet management, in which
the vehicle connects to a local operating system for monitoring and
diagnostics. According to Statista, $740 billion will be invested in the
development of IoT for cars by 2025.
In an
urban environment,
IoT solutions help automate lighting, while reducing lighting costs by up to
30-50%. "Smart" meters, which themselves record and transmit
information on costs and wear to management companies, save city residents from
having to verify and send data on energy consumption themselves.
In
logistics, IoT
reduces the cost of transportation and minimizes the impact of the human
factor. IoT systems can also monitor the occupancy of trash cans and optimize
waste collection costs based on this data.
The Internet
of Things is being actively implemented by the oil and gas and mining
industries. In particular, the use of advanced well analytics is helping the
oil and gas industry to increase production from mature fields. And, for
example, Severs Tal, using the Internet of Things, was able to minimize the
company's losses due to erroneous forecasts for electricity consumption.
In retail, IoT allows brands and merchants to optimize costs and improve customer experience through digital signage, customer interaction tracking, inventory management and smart vending machines, according to Maxim Lipitor. The market is expected to grow from $14.5 billion in 2020 to $35.5 billion by 2025, according to Research and markets.
