The solutions supported by Internet of Things (IoT) have evolved, and more and more industries use them to take the next level to their companies.
Technology has improved our lives in many ways, from the personal to the professional. The dynamics of coexistence have changed, and we need things to be increasingly straightforward and fast, and even automatic.
In the last five years, the solutions supported on the Internet have evolved, and the industries use them to take to the next level to their companies. Over time, the Internet of Things (IoT) has begun to make a real impact on the daily life of people and organizations as it modifies communication between objects and the functioning of cities. IoT refers to the digital interconnection of all kinds of everyday objects through the network.
At present, there are about 18. 000 million devices within the Internet of Things, and by 2020 that figure is expected to reach 50 billion. There is no doubt that the use of this tool worldwide is growing rapidly.
To improve the efficiency of these devices, more energy-efficient sensors are being designed, including processors capable of managing large volumes of data and enabling predictive analysis, as well as allowing the assignment of unique addresses for each one of the objects.
It allows enhancing the capabilities of the IoT, giving value to the business world, which is largely based on the data collected and the possibility of making real-time decisions aimed at analyzing the information that these devices.
As an example of this, companies like the Israeli beer company Weissbeerger locates sensors on the connectors where the beer passes, so that the measuring strips record how much beer is drunk in a bar.
As soon as the product reserves are finished, the brewery receives a notification and, consequently, can launch a new delivery. Also, in the automotive industry, in vehicles such as BMW and VW, the sensors measure the overall condition of the car.
If certain parameters leave the frame, the service of the automotive manufacturer receives a notification, and an employee calls the owner of the car to make an appointment. A similar scenario is implemented by the Italian motorcycle manufacturer Piaggio which uses this technology to predict fault analysis that is reported to the manufacturer and the vehicle owner. And these are just a couple of brief examples of what is achieved with IoT.
In the case of the Port of Hamburg, one of the backbones of the region’s economy, it has managed to maintain port traffic and commerce after the implementation of the Smart Port Logistics project, which allows them to connect different actors of the place by mobile business cloud. The project uses SAP logistics to help them get real-time information from both the port and transportation companies, parking providers and other businesses moving through it.
It integrates data from several vehicles that are in the port and then this information is consolidated and analyzed through the SAP HANA Cloud platform.
One of the most emblematic cases of how the IoT impacts the economy of a country is the case of Trenitalia, the Italian train company that through lords installed on the trains has managed to optimize its maintenance process until achieving between 8% And 10% total annual maintenance costs.
People and things
According to a study conducted by consulting firm McKinsey, it is estimated that potential economic impact of the IoT would be 3.900 million dollars to 11,100 million dollars a year in 2025. It indicates that the technology will have a greater influence in the global value of the advanced economies.
However, their adoption in developing economies is huge and can account for almost 40% of the value of IoT. The Internet of Things not only focuses on the business world but also has the ability and the facility to get involved in any activity that people do in their daily lives.
According to a United Nations report, by the year 2020, the world will have increased its population to 7.7 billion people, and the connected artifacts will be 2 times greater to the global population. A fact that shows that this trend connects and brings together two worlds: people and things.
At present, running the washing machine from the office using an application for our mobile phone is a reality, as well as alerting the doctor about an abnormal situation from the cell phone, receiving cooking recipes based on food stored in the refrigerator, turn off the lights of the house while you are not there to save electricity or even have suggestions for changing mattress according to how we sleep – all this is and will be possible without time or place limits.
Considering all this and starting from the fact that the Internet of things is a reality, we must ask ourselves how we can take advantage of these new technologies to generate opportunities that allow us to be more competitive in a world that is constantly changing.
It is time to innovate and reinvent business models to respond to the accelerated and constant transformation of the market.