How IoT delivers real business results across industries

IoT empowers businesses to achieve economic benefits through two primary strategies: by reducing costs and by creating new revenue streams. Furthermore, non-economic benefits, such as improved safety and health, or enhanced product appeal, often translate into financial gains over time.

Here are the most common effects that can be achieved through the introduction of smart connected devices across various areas:

The key question remains: how can businesses effectively achieve these goals in their specific sectors?

Applying IoT in your sector

Here are some real-world examples to help you choose the most effective implementation approach to maximize the benefits of IoT:

Manufacturing (IIoT)

Goal: Reduce costs, defects, and human errors; increase performance and quality.

Example: Sensors enable preventive maintenance, decrease defects in production, boost the production, and can even improve the customer experience, while smart wearables enhance safety of workers and enable smart access rules. An automotive factory integrates IoT-enabled robotic arms that use machine learning to identify defects in parts during production. This not only reduces scrap rates but also minimizes human inspection errors, leading to higher operational efficiency.

City (smart cities)

Goal: Increase safety, reduce costs, improve compliance, and get additional monetization models.

Example: A city council deploys IoT-enabled traffic management systems with smart sensors that monitor traffic flow and adjust signal timings dynamically. This reduces congestion, lowers fuel consumption, and ensures better compliance with environmental standards. Paired with behavioral data, information from smart objects also supports the development of new customized services. These improvements make logistics more predictable, and enhance the city’s appeal to residents and businesses, stimulating development and attracting greater tax revenues.

Home (smart homes)

Goal: Enhance quality and safety, increase customer loyalty.

Example: Smart home devices like IoT-connected thermostats and security cameras provide homeowners with energy savings and peace of mind by automating heating schedules and sending real-time alerts during security breaches. What’s more, smart access solutions automate vacation home rentals, with smart locks for hotel rooms and self-check-in options that reduce staffing costs, providing greater convenience for both hosts and guests.

Healthcare (Internet of Medical Things)

Goal: Reduce human errors, increase performance and safety, and improve compliance.

Example: Hospitals utilize IoT-enabled medication dispensers to ensure accurate dosing based on patient health records, reducing medication errors and improving outcomes. Beyond medication management, IoT sensors integrated with climate control systems optimize lighting and temperature, leading to energy savings and cost reductions. On top of that, AI-powered smart robots use data from wearable devices to enhance patient care.

Agriculture and Farming

Goal: Increase quality and reduce costs through precision farming.

Example: Farmers deploy IoT sensors to monitor soil conditions and automate irrigation, ensuring crops get the right amount of water and nutrients at the optimal times. Combining this with quality-controlled planting stock further boosts productivity and supports sustainable farming. To top it off, IoT solutions enable the monitoring of animal health and growth trends, providing farm managers with real-time data for efficient livestock management.

Logistics and Transportation

Goal: Reduce logistics costs, and improve safety.

Example: A logistics company integrates IoT-enabled fleet management systems that track vehicle locations, monitor driver behavior, and provide predictive maintenance alerts. Additionally, smart padlocks protect against theft, and trackers log transportation conditions such as vibrations, temperature, and humidity. This ensures timely deliveries and reduces operational risks.

Retail

Goal: Gain additional income sources, increase customer loyalty, and provide new sales drivers.

Example: Retailers use mobile devices, RFID inventory tracking, beacons, LiDARs, and cameras to capture data, and then process it with analytics, including AI. This enables a range of applications like tracking product availability to optimize store layouts, delivering personalized promotions, and enhancing the overall shopping experience to drive sales.

Energy

Goal: Reduce operational time and maintenance costs, improve safety, and support the transition to green energy.

Example: Energy providers adopt IoT-enabled grid management systems that monitor energy usage in real-time, predict equipment failures, and ensure efficient energy distribution during peak demand. Battery monitoring systems for electric buses optimize charging schedules and extend battery life, aligning with green energy initiatives. If we take mining and processing facilities, IoT solutions work effectively to track the power consumption of high-energy pumps, detect idle operation, and enable timely intervention to reduce electricity waste and costs.

Environment

Goal: Ensure compliance and safety, gain new insights.

Example: Environmental agencies use IoT-connected air quality sensors to monitor pollution levels in urban areas, enabling timely corrective actions and data-driven policymaking. IoT systems also help analyze how traffic-related pollutants disperse in the atmosphere, tracking how gases interact with turbulent airflows, building surfaces, and the ground to better understand and mitigate their impact on urban environments. For countries where ESG compliance is prioritized, IoT and Blockchain systems help verify carbon balance transparently on the blockchain.

Security and Surveillance

Goal: Increase safety and reduce human errors.

Example: Businesses deploy IoT-based surveillance systems with AI-powered cameras that detect unusual activities and alert security personnel in real time, enhancing site security and reducing false alarms. Furthermore, smart parking and access control systems streamline entry and exit management, improving operational efficiency and further bolstering security measures.