By 2019, the Internet of Things (IoT) industry will be more than double the size of the smartphone, PC, tablet, connected car, and wearable markets—combined. It’s predicted to become the largest device market in the world, adding $1.7 trillion in value to the global economy in the next two years. But what does this up-and-coming industry mean for your organization's future?
Internet of Things technologies will lead to a slew of innovations that will have a significant effect on businesses of all sizes and industries, including:
- Greater efficiency for business operations: Connected devices will enable companies to harness data to improve their efficiency and effectiveness.
- New business models and revenue streams: New processes will speed up time to market and respond faster to customer needs.
- Global visibility: Large enterprises will be better able to track effectiveness across multiple locations, provide remote work essentials, and monitor the entire supply chain.
- Tighter cybersecurity: More data means a greater potential for cybercriminals to steal sensitive business information.
Learn more about practical business applications for IoT devices, the concerns organizations have about adopting these new technologies, how major companies like Coca-Cola have deployed IoT, and what the experts have to say about this growing field in the infographic below.
Source: Exigent Networks
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