Bullish on IoT
A better system can be built around the growing ecosystem of medical apps that can leverage the billion mobile phones around the globe that can pick data through sensors placed on the body and relay the same to health centers.
One game changing application could be ease of finding subjects for clinical trials for a number of reasons: time, geography, etc. By having people opt-in with their existing connected devices, medical research centers can get a cross section of users across different, social, and environmental subsections. It has the potential to seriously disrupt the medical research industry in a way we’ve never seen before.
Oil and Gas Industry
The global oil and gas industry’s hunt for hydrocarbons in increasingly remote, extreme environments is driving the need for IoT solutions within the industry. The number of devices with cellular or satellite connectivity deployed in oil and gas applications around the world was 423,000 at the end of 2013, which is estimated to rise by 21.4% to 1.12 mn by 2018.
The tightening of regulations in the oil and gas industry, coupled with accidents and cyberattacks is driving the shift towards Internet of Things solutions. Apart from operational efficiency & remote collaboration IoT will bring more visibility in operations in challenging environments such as ultradeepwater drilling.
The increasing demand for cloud services shall push demand for servers and datacenters. Also, the continued reduction in the cost of manufacturing semiconductors makes it feasible to install them on a range of everyday devices that were previously unconnected. In its Internet of Things (IoT) 2013 to 2020 Market Analysis report, IDC estimates that spending on IoT technology and services will touch $8.9 tn by 2020, or a 7.9% CAGR. A lot of growth in the next few years will come from price-sensitive emerging markets, which will continue to pressure margins of component suppliers. The mobile devices shall continue to evolve through better functionality and experience as processors within them shall operate at higher speeds and consume lesser power. Emerging product categories like 3D printers, health and fitness devices, smart watches, ultra HD television displays, and smart thermostats will see the strongest growth alongwith smartphones and tablets.
Spending on smart grids and intelligent metering applications is expected to see particularly strong growth. The automotive industry shall continue to fuel growth in semiconductor tech because the consumption of electronic components for safety, infotainment, navigation, and fuel efficiency continues to increase.
In-store sensors such as Bluetooth beacons can track smartphones throughout the store and record path-to-purchase data that can later be used to optimize store layouts. They can also be used to target shoppers as they traverse the aisles, providing contextual information and offers as they go. And this extends to checkout, where shoppers can use their NFC-equipped contactless cards to pay for goods.
At the retailers’ end, through the use of smart wearables such as Google Glass, store managers could get reports on the go as they scan the store, comparing each department’s plan versus actual sales. They could also scan bar codes to get extended product information as well as inventory positions. At home you could imagine pressing a button on the wall of the laundry room whenever you run out of detergent so a new bag is automatically ordered at your favorite online store for home delivery. Such smart switches could be configured for different products and placed around the home for automating other mundane tasks. Connecting home automation to eCommerce sites could be the next wave of retailing.
Factories and plants that are connected to the Internet are more efficient, productive, and smarter than their non-connected counterparts. The increase of sensors and readers across the manufacturing and distribution chain can streamline and maximize practices, greatly enhancing productivity. IoT can provide endto-end visibility across manufacturing operations. Automotive companies are already using IoT-enabled technology to predict faults, quickly respond to maintenance conditions and take proactive action. Also, by integrating factory-floor operations with core business processes can optimize production and real-time updates from machine data can be used to gain predictive analytics to automate parts and consumable ordering to maximize revenue.
For instance, imagine a truck with some 50-100 sensors, if connected and with geolocation, you can see traffic jams in advance and do rerouting. If you see a problem with a truck you can proactively schedule maintenance. Connected logistics capability enables managers to manage large depots and hubs. All this improves customer service. With new visibility into manufacturing, companies are capturing data and using it to reduce downtime, for predictive maintenance, building analytics, and enabling business solutions. Likewise, by installing sensors and actuators at different points in an assembly line, managers can instantly find out the status of production. They are able to share that information and data with co-workers in other departments. email@example.com