How Is Iot Changing The Market Dynamics?

The transformational potential of IoT cannot be denied. Enterprises that harness IoT in accordance with their business needs are able to better coordinate their operations, while enhancing their business efficiency.

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What do you think is the most interesting use of the IoT?

Nowadays what is driving the enterprise industry curiosity is IoT. What makes IoT interesting is that it can be used in all fields and sectors such as manufacturing, logistics, food & beverage, automobile, banking & insurance, educational, healthcare etc. We might not feel the immediate effects of the IoT, but its potential is enormous.

IoT is set to transform the supply chain with both operational efficiencies and revenue opportunities. With the advancement in the technology sector nowadays almost all supply chains depend on the functioning of their machines. When factory equipments or a delivery truck breaks down, it can potentially create inefficiencies. With IoT, smart sensors can now be installed in these tools to provide better maintenance and hence prevent failures. IoT will empower cities to leverage their network to offer advanced smart city applications for citizens and solve problems related to pollution, traffic congestion and shortage of energy supplies.

How is IoT changing the digital landscape for the enterprise industry?

Given the consistent pace of digital innovation, there is an emerging wave of Internet of Things (IoT) to drive a new era of change. With advance hardware and software solutions and the arrival of virtual and assisted reality, mobile edge computing, machine learning, blockchain and AI, the enterprise industry is soon to witness the second wave of digital transformation. As companies are embracing a range of new, cutting-edge technologies to enhance their customer experience, they are eventually opening new markets and creating ecosystems for their products and services.