The IoT era has arrived. Now most devices can receive and send data over the network. Therefore, remote monitoring and management have become accessible. This is understood not only by developers but also by enthusiasts who want to increase the efficiency of their companies. But will these solutions be available to small and medium-sized businesses? Let’s find out.
The main perspectives of IoT solutions
The IoT is often called the fourth industrial revolution. According to McKinsey, the volume of IoT by 2025 will increase between 4 and 11 trillion dollars. It is about the potential for transformation in the consumer and business (B2B) segments. IDC survey results show that 55% of companies launch pilot projects in this area. A decrease in the cost of sensors and the increase in the availability of new technologies affect all industries, even more so, not only production.
Globally, around 19% of brands use IoT applications. Another 28% of organizations want to implement these types of solutions in the near future. This is reported by the Forrester research agency, which surveyed more than 3,500 companies. According to Forrester, emerging markets are showing the most interest in IoT. South America (52 percent) and Asia (72 percent) are the most active with IoT applications. In Europe and North America, the number of organizations implementing and planning IoT applications is 42 and 37 percent, respectively.
The term Internet of Things has generated a lot of controversy in recent years. These solutions are often used when referring to Industry 4.0. When people say IoT, they mean all kinds of home automation and other products that are constantly connected to exchange data through different channels. The high cost of such technology is the reason why many enthusiasts are looking for a universal subscription package. These are the main advantages of this service:
- The user can choose various subscription packages provided by the company where one is free. This means that to understand how it works, you don’t need to pay.
- By activating monthly payments that differ depending on the services, people can save up to 30%. This is the main reason why small and medium-sized companies prefer this type of solution.
- Businesses can consistently receive revenue and maintain their customer relationship.
Benefits of Digital Transformation
IoT is at the heart of digital transformation. The benefits of implementing such technology for businesses are obvious to any developer. By improving and automating processes with the right information, people can save time, maintenance, energy, and other costs. So that small and medium business owners free up resources for continuous innovation, renewal and growth. Most entrepreneurs have high hopes for this.
In 2020, the software category had the third largest market share. Most of the applications are associated with industry tasks, while the use of online platforms contributes to the faster development and deployment of digital products. Therefore, if you order this service, you will definitely not be disappointed.
In 2020, the leading industries in IoT development cost were production. No less important for the introduction of this technology are transportation, agribusiness, logistics, and infrastructure. After the adoption of pilot projects and the full implementation of AI technologies, the attitude towards things has changed. Most novice entrepreneurs prefer packaged solutions. If you contact Euristiq, you can contract this service without overpayments.
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