IoT – WHAT ARE THE MOST IMPACTED SECTORS?

iot impact

THE IOT IS GROWING RAPIDLY, DISRUPTING THE TRADITIONAL ECONOMY AND THE USES OF INDIVIDUALS, PARTICULARLY THOSE OF COMPANIES AND TERRITORIES. ACCORDING TO IDC, GLOBAL INVESTMENT IN IOT DEPLOYMENTS IS EXPECTED TO REACH $ 800 BILLION BY THE END OF 2020. A RECENT STUDY BY THE NEMERTES RESEARCH GROUP AND LAST MONTH’S MOBILITY FOR BUSINESS TRADE SHOW THAT ARCA COMPUTING ATTENDED, SHOWS THAT 5 SECTORS SEEM PARTICULARLY CONCERNED BY THE IMPACT OF IOT. IN THIS ARTICLE, WE GIVE YOU AN OVERVIEW OF THE RESULTS OBTAINED BY DIFFERENT TYPES OF PROJECTS AROUND THE IOT. WHILE SOME USE CASES STAND OUT WITH MORE FREQUENT SUCCESSES, THE MATURITY OF ORGANIZATIONS IN TERMS OF IOT IS OFTEN A KEY SUCCESS FACTOR.
At the heart of this exponential growth, 5 sectors are particularly impacted by IoT, for several reasons:
– productivity
– gain
– time savings – security of processes, goods, and people
– cost control
– appetite for innovation
– customer-centric approach

1 IOT SECURITY FOR PEOPLE AND GOODS

The manufacturers of connected objects have understood that security is a major issue: whether in the service of goods and people.
Several use cases observed during the Mobility for Business trade fair show this…
In the professional field, employees working in isolation, for example, can be equipped with a DATI (Isolated Worker Alarm Device).
Comprised of an alert system, fall detection, or immobility detection, the device allows the employee to report an emergency situation and contact the emergency services.
Likewise, buildings, whether for professional or private use, can also be secured thanks to fire alarms directly linked to the fire brigade call center, and the installation of call buttons in elevators.

Also Read: IoT: Benefits Of IoT For The Transport And Logistics Sector

2 CONNECTED HEALTH

At the heart of this growth, the healthcare sector is also experiencing changes driven by IoT.

The global medical sensors market is expected to reach $ 27.7 billion by 2026 and grow 9.9% over the next few years according to Transparency Market Research.
The IoT thus makes it possible to offer a higher quality of care but also to develop products contributing to the well-being of individuals. As such, IDC foresees a boom in wearables, to the tune of 198.5 million units sold worldwide at the end of 2019.
Sports watch, pedometer, scale… All these objects are increasingly connected in order to provide information on the health and physical condition of users.

3 CONNECTED TRANSPORT

Transport is one of the sectors where expectations in terms of IoT are the highest, in terms of driver and passenger safety, but also in the fight against pollution.
While the use of vehicles is often questioned: accidents, carbon emissions… the IoT could help improve the sector. In this regard, professionals in the automotive sector have taken these issues into account and have adopted IoT to improve vehicles.
This is how the connected sensors make it possible to monitor fuel consumption, analyze driving, or predict the next vehicle service.
Likewise, the IoT can help optimize journeys and the vehicle fleet of transport companies.

4 SMART GRIDS

Smart Grids optimize energy consumption on two levels.

On the one hand, gas and electricity suppliers can adapt their production by studying the data collected by the sensors; they are now able to measure many factors ranging from temperature to pressure and humidity.
On the other hand, this data can also be useful to consumers who can thus control their energy consumption and related costs.

The use of connected objects in the energy sector thus makes it possible to control energy distribution and consumption at the level of an individual or a city.

Also Read: Risks That Consumers Still See In IoT Security?

5 SMART CITIES

Smart territories (or Smart Cities) have become a real issue for improving the quality of life of inhabitants and users.
The IoT can thus be used to fight against pollution or to regulate automobile traffic.
It is clear that the industrialization of the IoT, also known under the term “Industrial Internet of Things”, is underway.

The IoT provides access to predictive maintenance in order to intervene upstream of any failure but also to remotely control devices and therefore avoid physical intervention by an employee.
For the moment, factories that run solely on IoT are not yet deployed. This profound change, sometimes assimilated to Industry 4.0 and often announced as imminent, takes time because it is necessary to train the workforce and change organizations in depth.

Now, multiple objects are interconnected with each other. However, there is a need to create programs to facilitate the transition from traditional objects to digital.

Also Read: Do You Know How IoT Companies Benefit?

6 EXPERIENCE, THE KEY TO THE SUCCESS OF IOT PROJECTS

As part of the survey carried out by the Nemertes Research Group, more than 400 organizations around the world were surveyed. The research firm has identified nine broad categories of IoT initiatives:

– The traceability of goods and materials
– Monitoring the health of equipment
– Monitoring the health of living beings, humans or animals
– Capacity management (meeting rooms, production lines, etc.)
– Monitoring of environment (outside or within buildings)
– Remote monitoring and audio surveillance
– Carrying out precision actions (in association with robotics)
– Managing the customer experience
– Remotely controllable machines (especially drones )

Among these major categories of projects, the most frequently encountered concerns traceability, while the least deployed is equipment monitoring.

The best IoT projects have significant and measurable benefits

In order to measure the success of IoT projects, the research firm ranked them according to the significant and measurable benefits generated.
The first third was used as the threshold to determine the success of an initiative. In order to be part of it, projects must have enabled:
– either to generate at least US $ 2.5 million in income
– or to save US $ 1.25 million
– or to improve business processes at minus 36%.

At the end of this analysis, the authors identified two categories of initiatives which meet the most profitability:
– capacity management: 17% success, 9% disappointing results
– monitoring of machine health: 18 % success against 14% of mixed projects.

On the other hand, traceability (36% of disappointments against 24% of successes), environmental monitoring (11% of successes, 14% of failures), and customer experience monitoring (8.5% of success, 12% of poor projects) are more frequently below expectations.

During the Mobility for Business fair, organizations using IoT as well as service providers strongly insisted on gaining experience on simple use cases. Indeed, the success or failure of a project does not depend only on the use case but in large part on the maturity of the organization; maturity level in terms of:
– change management
– digital transformation
– IoT experience

The survey confirms that the organizations with the most experience in IoT were the most successful. This confirms one thing: to be successful, it is best to start with simple projects. Companies can then leverage the experience gained in more ambitious projects, including those combining IoT with other technologies, such as robotics or advanced analytical applications.

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