Connected machines that gather information and intelligently interact with one another—collectively constituting the Internet of Things (IoT)—have the potential to completely reinvent and transform entire markets and businesses.
Through sensor-enabled automation, IoT allows businesses to construct more transparent, efficient, safe and reliable systems and processes. The technology can not only help bolster future growth in your business, but can be implemented to immediately address current business challenges.
Consider all the logistical processes that go into the day-to-day function of many businesses. IoT sees the automation of many current manual processes, including the compliance-required tasks such as mandatory ongoing monitoring, tracking and data recording. It puts intelligence and automation into these processes for full visibility and better analytics—and it’s all available on mobile devices.
Investing in IoT
The ways in which IoT technology is being applied will continue to change and evolve as more people and businesses develop new use cases for it.
The percentage of businesses around the world investing in IoT, by industry
Source: PwC, 6th Annual Digital IQ. 2014
Canada, however, has a long way to go in catching up to the global community. While more than 79% of global businesses have IoT initiatives in place1, just 45% of Canadian business are currently deploying IoT solutions2.
Average dollar spend, per company, on IoT solutions
1. Source: Tata Consultancy Services, 2016
2. Source: IDC, 2016