Why is it imperative now to have an IoT Investment Strategy?
The Internet of Things (IoT) isn’t a new thing; since decades tech experts have been discussing the ideas but it is yet to go mainstream in many industries. So, why it is essential for you as a business to invest in IoT now more than ever? Well, because Gartner projected that by the year 2020, a global economic value-add of $1.9 trillion will be driven by IoT. Keeping in mind the disruptive potential of IoT organizations have begun to recognize that they need to start assimilating this trend in their core business processes now, in order to be benefitted and not lag behind in the competition.
The playground of IoT Experts predict that the immediate impact of IoT would be seen as improved asset utilization and increased efficiency in the industrial sector. It would enable organizations to move towards new business models to identify new revenue streams through data-driven services. It would not only optimize activities across the organization but start travelling through the value chain. Early adopters have already started leveraging the information generated by smart devices to create a transformative impact on business processes.
For example, as per the research data in the healthcare sector, continuous tracking of patients’ health through remote monitoring have reduced readmission by 45 percent. You can consult mobile app developers to make an informed IoT app investment for wearables and connected devices specific to your industry or even others.
Discerning the true value The opportunity brought about by this technology is immense and you have to align your objectives and goal to leverage it for your business. At the same time overcome the challenges bring forth by this technology like the security issue exposure at the various touch points of IoT. You have to keep in check the vulnerabilities in the network of connected devices and you can even come out with a security solution as this is will be the very next thing in demand as more and more organizations adopt IoT.
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