Internet of things has brought a revolutionary change in the way we do businesses today. The intersection of the physical and virtual world through connected devices is scalable, efficient, effective, and everything that you need technology to do wonders for your business. The internet of things products are leveraging a plethora of benefits for a number of industries today, the mobile app development industry being the most profitable one.
The intersection of IoT devices and personal world is creating a new world of opportunities for companies. Gartner has released interesting facts on this trending internet of things technologies:
- By 2020, 30 million devices including smartphones, tablets, and computers will be in the use
- In comparison, there were only 2.5 billion connected devices in 2009
- It is estimated that IoT devices will generate an additional $1.9 trillion revenue in the upcoming years
- The even non-traditional market will get benefitted from the soaring IoT share
A Look On The IoT Insights
- ATMs are the first objects to have IoT way back in 1974
- The number of IoT connected objects by the end of 2020 is going to be 50 billion
- IoT will contribute majorly to connect home appliances
- By the end of 2020, there will be a quarter of a billion vehicles connected through IoT mechanism
- Google’s ambitious self-driving cars are the best example of IoT we have till date
The expected growth in the internet of things technology is likely to add extended business revenue to almost all the industries. Be it healthcare, mobile app development, the fitness or sports domain or any other industry, the evolution of the internet of things is going to offer exceptional results in the form of soaring business revenue. Internet of things companies will offer revolutionary changes for business models in the following two different ways:
1. Change In The Business Process
Digital innovation is playing its important role in bringing the new Internet of Things products in the workspace. The integration of this innovative process has given a celebrated way to mobile app development companies to streamline business solutions helping them deliver better customer experience.
Internet of Things is still growing in order to empower the business and the services towards the clients. The technology has played an exceptional role for app development companies to develop better products as well as services for the clients with a focused aim of delivering quality as the end business product.
2. Innovation In The Business Model
Internet of things technology is playing an exceptional role in merging the growing technology, for example, wearable tech with the sports gear to innovate products that are meant to serve the audiences specifically. The devices having the elements of the Internet of Things technologies help individuals track their health and fitness with just a wearable device. Such devices help individuals count the calories they have burnt, fat they have lost and the duration of exercises individuals are practicing.
Such an innovation in the services is not only benefitting the service industry but also helping the clients get exceptional services. Wearables are the best examples that have utilized the elements of IoT devices exceptionally well.
The Potential Internet of Things Products Hold for the Business
Now that Internet of things technology is bringing an innovative change in the ways companies work today; there will be a number of benefits for the internet of things companies to include IoT in their businesses. Here is an insight of the benefits:
1. Automated Business Architect
One of the biggest advantages that Internet of Things Companies are leveraging today for small, mid or even large enterprises is offering them with an automated business structure to streamline their working. Automated architect promises step-by-step project development and testing ensuring flawless project delivery to the clients, which of course saves the additional time as well as efforts required to do the testing.
As the company grows in size, it generates more and more data. Additionally, the adoption of new technology becomes easier too when businesses embed the technologies like the internet of things. Such award-winning technologies have been proved to ensure automation efficiency in the business processes.
2. Real-Time Business Operations Deploying Internet of Things Products
When it comes to business operations, companies need to be very much flexible in business procedures. Deploying IoT in their business processes makes it easy for enterprises to receive real-time data for their business components in different processes. This gives a fair idea of the business operations.
When businesses have real-time data of their operations, they can analyze the process to optimize the same in order to utilize the resources in a better way. Optimizing resource allocation is very much important when enterprises are targeting masses with the use of exceptional technologies like the Internet of Things projects.
3. Managing Businesses In A Cost-Effective Manner
Developing IoT enabled mobile application is a cost-effective affair because Internet of Things technologies services are readily available to many mobile apps development companies today. Although continuous research and development are going on in this direction only to help companies offer exceptional services to the clients.
Using the elements of the Internet of the Things technologies makes it an affordable affair to utilize the resources so that they could be channelized to offer the best output. This way managing the business operations becomes much easier.
4. Security In Business Processes
Apart from the monetary benefits that we have just discussed, Internet of Things security is another exceptional benefit that comes to app development companies with the use of Internet of Things technologies. The technology brings internet of things security along with it to offer protection to the business processes.
From inventory tracking to exceptional resource utilization and to formatting the business transaction, Internet of Things security devices have always been known to introduce secured processes in the business. IoT leaves no loose ends to the business that could exploit the business resources.
5. The Power Of Analytics In The Business
Data is the new oil for businesses. Whichever company has the maximum data and the ways to analyze the same into meaningful data is going to rule the future. Employing IoT devices ensure the addition of analytics into the business. Analytics helps improve data mining and the use of the same in the business.
By using the data mining process, companies can optimize their current resource to offer maximum output. This increases the efficiency and the productivity of employees and helps the companies to track the output of their employees and help them improve their efficiency at work.
6. Great IoT Ideas For Startups
The use of the internet of things projects enabled technologies is growing exceptionally well. And the best thing about the Internet of Things companies is they can help firms create a unique business idea to accelerate their growth in the ever-dynamic business world. Here are a few suggestions you can consider for having your own business idea.
7. Smart Parking
Smart parking is the need of the hour. Finding a place to park your vehicle is a great deal and to solve the problem, you can think of providing parking spaces through IoT enabled applications. A number of startups have already started working on the empty parking slots idea and are gaining extensive exposure in the market.
Using IoT devices, companies can develop an application that shows empty parking space to the users. Showing the parking availability at a particular area when the users enter a location is an idea to generate instant business revenue.
8. Smart Roads
There is always more than one way to reach any particular destination. And choosing the smartest way is always the toughest choice. However, Google map is always there at our disposal but what about an app that shows the roads having the least traffic and help us choose the best way to reach our destination.
Getting the services of the internet of things companies to develop such an application is an innovative app development idea that could offer exceptional business profits. The internet of things projects based applications can prove to be the best startup development idea in order to invest in a business that would offer extended profits.
9. Smart Trash Bins
Trash bins that are full always suck. But what if we have a startup working to notify garbage collectors that trash bins are full. Such a startup can be your next business plan. The idea is innovative and has all the potential to offer extended leads to the business.
Sending a notification to the startups working for collecting the garbage from the bins can be the next big revolutionary idea for a startup to grow with exceptional speed in the mobile app development domain.
The existence of IoT based companies is continually growing making it possible for entrepreneurs to utilize Internet of Things technology to its fullest. Such companies are helping firms to have their internet of things projects accomplished by experienced organizations.
Internet of things is the technology of tomorrow that is helping many firms own their dignified space in the mobile app development space. The fact that the technology offers internet of things security to the companies is the best thing about utilizing this technique as your next business development idea.