Building an Internet of Things (IoT) enabled platform from the ground up is challenging. But immensely rewarding. IoT typically helps companies cut costs by 15%. In fact, reports show that IoT can create a potential income pool of $4 to $11 trillion dollars for people worldwide. Tapping into this would need an original well-crafted solution that seamlessly integrates into your business. That’s why brands like Under Armour and AGCO turned to us for IoT solutions that work wonders.
The Internet of Things (IoT) is a collective network of connected devices and technology. This network speaks to the cloud in a way that allows devices to speak to one another as well as with the cloud. This gives a single point of control for a vast network of devices and helps massively boost productivity within industries.
The Industrial Internet of Things (IIoT) uses a series of smart actuators and sensors to sharpen manufacturing and industrial processes. Currently a $260 billion market, IIoT is expected to grow at almost 7% a year and implementing it is expected to fetch businesses today enormous gains in productivity.
Cisco reports that the things/people ratio grew from 0.08 in 2003 to 1.84 by 2010. And as McKinsey reported, 58% of workplaces that implemented IoT saw their revenue increase by at least 5%. Additionally, 46% of workplaces also reported a 5% decrease in costs. Businesses all over the world have been heavily impacted by IoT–helping them make massive productivity gains.
IoT enables cities, businesses, and people to make enormous productivity gains. It can enable anything from smart traffic control and more sensitive assembly lines to boosts in revenue, cost-cutting measures, and time-saving processes. With the Internet of Things, a world of possibilities await you and your business.
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