The Internet of Things market is growing at a historically fast pace

The lines separating the physical and digital spheres continue to get blurred in today’s hyper-connected world, spawning an era of true convergence. A key driver of this accelerating trend is the rapid proliferation of connected, “smart” machines, devices, products, services, people and wireless networks, commonly referred to as the Internet of Things (IoT). The IoT ecosystem, including “intelligent” meters & appliances, connected cars, Radio Frequency Identification (RFID) tags and wearables, is generating unprecedented volumes of data around the various dimensions of consumer and enterprise worlds. And, companies have started aggressively leveraging Big Data, Analytics, Machine Learning, Artificial Intelligence, and other disruptive technologies, to extract tangible insights from this storm of information that is emanating from their physical and digital infrastructure.

Widespread Applications

Be it enabling people to self-monitor their health & wellness through connected devices, or empowering manufacturers to use sensors for optimizing equipment maintenance and improving worker safety, IoT’s applications continue to expand by the day. On the consumer front, IoT Mobile Apps have made their way into our living rooms, thanks to the growing adoption of smartphones, Near Field Communications (NFC), wearables, virtual reality headsets, Wi-Fi and Bluetooth.

Meanwhile, companies across several industries-including manufacturing, aviation, automobile, energy, retail, and mining-are seeking to harness IoT-enabled convergence for boosting operating efficiency and enterprise productivity, as well as for transforming their business models. The following three use cases highlight the tangible manner in which IoT solutions are redefining the business landscape: