5 Industries On the Verge of IoT Disruption
The Internet of Things (IoT) is becoming a hotbed for tech teams looking to drive an innovative transformation strategy.
In a nutshell, IoT is a network of “things” that has the ability to share information with each other through sensors, software, and network connectivity. These “things”, are often called smart-devices.
IoT is big business. By 2020, Gartner predicts that there will be 20.8 billion connected things in the world, just under triple the amount of humans on earth.
But what are these “things”? And in what industries will you find them?
To assess this in greater detail TechExec. takes a look at the 5 industries that will be hit the hardest by IoT…….
……Energy & Utilities
This sector has been utilising sensor-based communication for quite some time. For example, Victoria is the local leader in “smart-meters”, which sees companies apply sensors to reading meters to access real-time usage information.
Evolving from the smart meter is the concept of a “smart-grid”. In an ideal world, a smart-grid will provide customers the opportunity to switch between renewable energy and traditional energy supplies.
Speaking on the future of grids, AGL’s head of group strategy and new energy Marc England said:
“We will see a co-existence of the existing grid and disruptive technologies such as batteries, digital meters and solar PV.
“Consumers will increasingly have multiple options to choose from when sourcing their energy and AGL plans to play a leading role in this evolving energy market.”
Developing a smart grid that is adaptable to a variety of energy sources is essential for the sector to survive. IoT technology is what will underwrite this.