What Are IoT Devices and How Will They Impact Your Business?
What Are IoT Devices and How Will They Impact Your Business?
As technology continues to advance in cloud computing and network integration, it’s becoming more popular than ever to build devices that are compatible with the Internet of Things. According to Business Insider, the Internet of Things (or IoT) describes “the connection of devices (other than typical fare such as computers and smartphones) to the Internet. Cars, kitchen appliances, and even heart monitors can all be connected through the IoT.”
The IoT’s potential is limited only by the amount of electronic devices you can make. Analysts expect that we’ll have over 75 billion types of IoT devices by 2025, vastly more than their current finding that only 0.06% of all devices that could leverage IoT actually do so.
As such, we’re standing on the cusp of a bonanza of IoT investment and integration. But what exactly does it mean to hook a device up to the Internet of Things? In this post, we explore the diverse benefits that can spring from developing machine intelligence in your products.
IoT Devices: What Are They, How Do They Work, and How Do They Benefit Your Bottom Line?
What are IoT devices? The answer is simple: if your device connects to the internet, it’s part of the IoT. Many of the machines and appliances we use every day can be modified to connect to the Internet of Things, including:
- Refrigerators
- Microwaves
- Home security systems
- Cars
- Alarm clocks
- Coffee machines
- Climate control systems
- Entertainment systems
IoT products come with many built-in capabilities that monitor usage levels, sense environmental conditions, and analyze data received via the Internet to create alerts and notifications.
This means that IoT devices can anticipate unexpected events and help you navigate around them. For example, imagine that you have a “smart” alarm clock. This alarm clock normally wakes you up at 7:30 AM to catch your morning train. However, as the clock can monitor your train’s status via the internet, it can modify its behavior if anything affects this routine. If track repairs cancel the train, the clock automatically finds another train that works with your schedule and will wake you up in time for the new one, saving you from any unpleasant surprises in the morning.
How IoT Technology Can Impact Your Business
IoT devices benefit your business in a variety of ways, helping you optimize inventory tracking and management, analyze customer behavior, and improve troubleshooting and product testing processes.
For instance:
- IoT SCADA systems can analyze product locations, system tasks, and machine wear in real time, allowing your assembly line to automatically make adjustments that best optimize your plant’s physical capacities
- IoT industrial machinery can identify breakdowns in internal components or assembly chains, allowing you to make repairs without having to resort to trial and error
- “Smart” GPS systems can help truckers analyze traffic and road conditions in real time, allowing you to decrease your shipping and delivery times
Not only will these benefits result in more affordable, high-tech, and effective products for consumers, but integrating the products themselves with the IoT will improve their efficiency and marketability. Cars that can self-diagnose engine problems will reduce headaches for drivers in need of repairs, microwaves that can detect when foods and liquids are fully cooked will result in better meals and less energy use, and home lighting systems that can automatically calibrate the appropriate light levels for every time of day will effortlessly create the perfect ambiance for homes and businesses.
Use the Internet of Things to Your Advantage at Paragon Innovations
We at Paragon Innovations are leading the way in integrating existing devices with new and exciting technologies. We’re currently on the brink of a new era in technological innovation, and we want to work with you to realize the full potential of the Internet of Things.
If you would like to learn more about how we can help make your next project a “smart” project, contact us today.
