IoT also called a machine to machine (M2M) communication. M2M refers to connecting physical devices around the world that are connected to the internet and collecting data from the cloud. By looking at the immense growth of IoT, it definitely will be playing important roles in the future of technology. IoT will change our world completely. Nowadays almost every electronic devices like mobile phones, laptop, desktop, and smartwatches all are connected with the internet. IoT technology benefits not only one, but it is useful for individuals, businesses, and society as well.
Researchers have already forecasted that by the year 2020, the number of IoT devices in the market will grow to 30 billion from the current value of 10 billion. These types of predictions are also getting supported by the growing market of smart devices. IoT can help small businesses to reduce production expenditure and generate better revenue.
Let’s see how businesses can take advantage of the Internet of Things (IoT)
Increase Business Opportunities
Internet of Things can boost productivity and efficiency significantly in an organization through better assets and resources utilization. IoT solutions can help business cut costs and maintain a competitive advantage. By using IoT, businesses can save on energy cost and improve efficiency. IoT has reduced time and increase return on investment (ROI).
Here is a full article on IoT benefits in businesses: https://edu.varistor.in/iot-and-its-benefits-in-businesses/