How the Internet of Things Can Transform Business
The majority of business and IT executives and professionals anticipate that the Internet of things (IoT) will have a significant—if not transformational—impact on their industry, according to a recent survey from QuinStreet Enterprise. The resulting report, “Business and Tech Decision-Makers Expect Big Impact From IoT,” indicates that a great many of the survey respondents feel that the IoT will play an important or critical role in their company’s future success. Such sentiment is driving up demand for IoT technologies, which will grow to a $1.3 billion market by 2019, up from nearly $700 billion last year, according to industry research. As enterprises learn how to maximize the advantages of this technology, they’re expected to boost innovation, increase revenue, improve a firm's competitive edge, and enhance the customer and stakeholder experience. In health care, for example, “Doctors and other medical professionals are relying on remote sensors to monitor heart rates, blood sugar and more,” according to the report. “In the manufacturing sector, the IoT can connect sensors that gather information about the health of systems or the output of assembly lines. In an area like energy exploration, sensors connected to the IoT help monitor the health of pumps and valves on equipment in remote areas that are traditionally difficult to monitor.” More than 600 IT and business decision-makers and professionals took part in the research.