Good Forecasts = Better Opportunities
Driven by the sky-rocketed use and demand of IoT devices, the IoT Analytics market is expected to witness a boundless arena of opportunities in the nearing time.Being valued at $12.47 billion in 2019, the IoT Analytics domain is all set to achieve new heights with forecasted growth of 31.54% CAGR in the 2020-2027 time capsule. What could be better than these figures!
IoT devices have been seriously taken by ventures across the globe, thanks to their useful properties like productivity enhancement with real-time monitoring, data sharing, and so on. This has spurred up the game of IoT Analytics, as it could assist businesses with extracting purposeful information from data collected by IoT devices, analyzing the performance of industrial machines, track faults or issues faced by systems, to thereby let the respective authorities make informed decisions.
Harbored by almost every industry in today’s time, IoT Analytics straightly shows the exceptional value that it lends to businesses of every domain. Know better how the numerous sectors give their approval to the IoT Analytics services by accepting it with open arms in this day and age…
Pharma sector uses IoT Analytics to sieve a humongous amount of unstructured data in seconds that enables medical practitioners to come across apt treatment options or solutions for different diseases.
One of the main reasons for the rise of the E-Commerce sector is the increased use of IoT Analytics. With facilities like inventory management, supply chain management, personalization, and customer experience, IoT Analytics has proposed immeasurable value to this sector.
To enhance operational working capacity, and analyze any downtimes in advance, the sector has hailed heartedly adopted IoT Analytics by placing different smart sensors across the manufacturing premises to collect valuable data that could have been missed otherwise.
Retail industry has made the most of IoT Analytics by applying it to numerous roles such as personalized retail marketing, wireless shipment tracking, cashier-less payments, real-time condition monitoring of goods, etc.
Government & Defense:
Governments across the globe are investing in the Smart City Projects, which would invariably need the requirement of IoT devices and hence the IoT Analytics. It would help mitigate various issues like theft, transportation, women’s safety, and others.
This list is not limited to the above-mentioned sectors but also spins up to industries like Energy and Utilities, Telecommunications and IT, Transportation and Logistics, Travel and Hospitality, Education, Outsourcing Services, and on and on. You would be looking to discover some fresh plots that the domain of IoT Analytics could furnish your business by carefully transfiguring Big Data into something very useful. Well, here are some latest use-cases to your rescue:
The freshly sprouted IoT Analytics is still to be completely engulfed by the Agricultural sector. The best way one can know how it imparts utility to this sector can be through the AWS IoT Analytics that enables automated IoT device data enhancement with contextual metadata so that the agriculturists can perform analysis with respect to time, location, temperature, altitude, and other environmental conditions. This technology is capable of gifting the agribusinesses with a wealth of information on crop field data, crop health assessment, and so on.
This is one of the most intriguing use cases of IoT Analytics. You get better transport navigation, seamless traffic management, tracking the power grid use, and likewise, that aids you with eliminating hassles with even parking systems, logical scheduling of public transports, and preventing blackouts situation in the town, respectively, along with doing many other tasks by analyzing data collected through connected systems.
IoT Analytics is the very base of the IoT Wearables and Devices that provide value to them. With the increased use of IoT Wearables like Smartwatch, Fitness Tracker, etc, IoT Analytics enable people to improve their personal traits by letting them know their larger habits, walk steps, run miles, time consumed in an activity, the rate of the heartbeats, and more. This not stands confined to self-improvement but with the rise of solutions like smart meters, one can collectively measure the consumption of water, energy, and gas at home.
Innovative Social Analytics:
With an increased interest in marketing and sales, the companies have started leveraging IoT Analytics to receive in return actionable insights regarding client’s behavior at webinars, informational campaigns, in addition to audiences’ emotional responses at the events like sports matches, fashion shows, exhibitions, and other events. This proves to be a very innovative technique for drafting the actual audience engagement and deriving insights as to how the engagement can be increased, and brand awareness is boosted.
Aquafarming is one of the most interesting and fresh use cases of IoT Analytics. Where on one side, Aquafarming stands for the cultivation of plants and animals in the water, IoT Analytics, on the other side, with the help of attached sensors, let you know all the required information such as environmental quality, temperature, oxygen levels, and more. This assists the aquafarmers to boost production by enhancing the water quality, and the overall water culture.
These use cases are more than just examples that the IoT Analytics impart phenomenal value to businesses all over the planet, and covering all the industries. No matter you belong to which industry, partner with the IoT Analytics services and get endowed with a large number of offerings inclusive of IoT Data Collection, IoT Big Data, IoT Data Ingestion, and much more in a well-spun series.
The Not So Final Lines…
For technology so radically different, there could be no final lines. IoT Analytics is meant to decide a long-way in the domain of Information Technology, with the above-mentioned progress just a beginning. Being capable of imparting a stack of benefits like identifying the future trends, understand customer engagement, etc, and serving a pack of purposes like constant device data monitoring, time-series analyses, etc just at its initial stage, it would be exciting to discover what highpoints this technology would be unfurling in the coming years!
Ride on the ceaseless growth journey with our IoT Analytics Services!!
Eager to inculcate the edge of IoT Analytics in your latest business project! We are here to serve you… Teksun’s IoT Analytics experts deliver the rightful application of both the IoT and Big Data with offerings ranging from Data Extraction and Processing to Visualization and Consumption layers comprising facilities like reports and dashboards. Simply get in touch with our IoT Analysts today!