Internet of things has gone miles since its first conceptualisation. Now, this has become a buzzword in the tech world. More and more applications are reaping the benefit of IoT. Some famous IoT applications are Smart Parking, Smartphone Detection, Waste Management, Smart Roads, to name a few. In this blog post, we are talking about role of IoT in impacting business’ profit. We will also see how IoT application development services is increasing day after day owing to its rising demand. 

Bigger than the Industrial Revolution…

This is how some business analysts are talking about the budding “Internet-of-Things” and the innovation that’ll come as a result. According to Gartner, Inc., the number of interconnected devices in 2016 jumped 30% to 6.4 billion in common use, and more than double to 13.5 billion by 2020. 

Over the next four years, we’re likely to see a revolution in how we live our lives… and of course, how we manage and operate our businesses. In my previous post I have mentioned about Internet of Things Uses & Applications in various Industries and here In this blog post, we will look at various ways how internet of things is going to impact your business. Let’s start:

1. You’ll know where everything is at all times.

At present, most of the companies rely on tracking systems based on barcodes for inventory management. But, when almost all your devices, and even products are integrated into the same network, the inventory management and tracking will become intuitive so that you might not even have to think about it.

Instantly updating numbers will be at your disposal at all times, and you’ll have the ability to tap into those metrics any time you want.

IoT Benefits & Advantages for Business

2. It’ll allow you to make smarter products.

A few years ago, we used to think that our phones could be used to make only phone calls. At present, most consumers expect a lot more from the handy device.

Therefore, while it might seem unnecessary at first glance to have an internet-enabled frying pan,a smart tennis racket, or a smart yoga mat, these are just the first forays into the world of the Internet of Things.

IoT Benefits & Advantages for Business

Stay Informed Internet-of-Things: Mind-Boggling Facts (Infographic)

IoT Benefits & Advantages for Business

IoT

IoT Benefits & Advantages for Business

3. Everything will be faster

With the internet of things in place, everything will be faster & smarter, since interconnected devices could include everything from the cars andtraffic lights to public transportation. When that is the case, you will have shorter commute times for your employees and yourself.

More important for the impact on your company, this means faster deliveries. On one hand, this’ll be a luxury– you will get you what you need promptly– but it also means customers will expect faster, more efficient service.

IoT Benefits & Advantages for Business

4. Remote work will become even more feasible

Thanks to the latest cloud-hosted software and readily portable devices like smartphones & tablets, remote work is already a solid option for many professional positions. When internet of things technology becomes commonplace, and all devices are manageable on one network, it’ll become even easier to manage everything remotely.

Given one tablet and an Internet connection, you may be able to manage an entire production line, or an entire store. Most professionals will not be prepared to cross this gap immediately, but it’ll be there as a possibility.

Impact of IoT on app development 

IoT on app development, IoT app development, IoT development
Impact of IoT on app development

5. Device management may become nightmarishly complex

There are a few potential downsides to IoT integration. One of the hardest to adapt to will be overall device management. You could have a hard time keeping all your integrated devices updated with the latest software and connected to the network; this will be both expensive and intense in terms of IT needs. Still, the benefits of increased productivity and reduced labor costs should balance this out.

IoT Benefits & Advantages for Business

6. Productivity will increase

As a general rule, your entire business will be able to operate more productively, with lower expenses.

The cost of upgrading all your devices may be initially steep, but you’ll end up paying less for staff, and you should be capable of producing more products, thanks to the efficiency challenges your new technologies will have solved.

IoT Benefits & Advantages for Business

Wrapping Up:

The Internet of Things represents a fundamental tilt in the lens through which we view the world. The same way most of us would never want to go back to a phone that’s just a phone, soon we won’t be able to imagine going back to a world without smart cars, smart roads, smart infrastructure, etc. So, you have to be better prepared for this new revolution.

PixelCrayons is a leading web and mobile app development company that is engaged in IoT development services and IoT web application development services. Our experts will help you in IoT software development with latest features.  

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About the Author

Varun Bhagat is a technology geek and works with PixelCrayons as a Sr. Technology Consultant. He possesses in-depth knowledge of different web development technology and helps our clients to choose the best technology as per their needs.

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