For almost all enterprises, IoT is crucial for efficiency and productivity improvements. The adoption of the IoT allows companies to transform machine data into actions to improve operations. The merger of the physical world with digital networks and applications creates new modes of collaboration, intelligence sharing and business efficiency.
How many companies are getting to introduce smart technology into their processes?
The biggest adopters of IoT are in industrial manufacturing. Next comes retail, telecommunications, consumer products, energy and utilities, and the automotive industry. According to techjury, by the year 2025, there are expected to be over 64 billion IoT devices worldwide. For nearly 54 per cent of the enterprises who use IoT, they say that the main driver of the investment is cost savings.
The global IoT market is projected to reach $875 billion in 2025!
This digital transformation means a lot of different things to a lot of different businesses. Digital transformation is all about data. It enables companies to use customer data directly to drive business. All companies, big and small, can transform into digital companies by using an IoT platform able to digitize their physical products. The more digital a company, the more competitive it is. For the traditional company, IoT platform technologies allow them to become digital-based companies. From there, they can enjoy the increased competitiveness, faster innovation, better efficiency, new business models, and enhanced customer experiences that digitally native companies already enjoy.
Use the Spark Works IoT Platform and drive your business further into the digital transformation journey and increase efficiency while reducing costs. Why automate?
- Increase efficiency and profitability
- Get more done in less time
- Reduce operating costs
IoT and digital transformation remain key drivers that will impact nearly every industry in the future. Regardless of whether you’re tracking packages as they’re shipped or looking to identify machine performance anomalies, being able to collect and sort all this data and then act on it will be pivotal to success. It’s evident that in this new world, technology is not a choice, but a fundamental business strategy that must be interwoven into every part of an organisation.
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