Internet of Things: A Transformational Force
Industry Key Change Potential Benefits
- Automotive and Transportation Real-time driving behaviour, traffic and vehicle diagnostics. Improved customer experience, reduced pollution, increased safety and additional revenue streams.
- Healthcare Remote monitoring of staff and patients ability to locate and identify status of equipment. Improved employee productivity, resource usage and outcomes that result in efficiency gains and cost savings.
- Manufacturing Quick response to fluctuations in demand; maximized operational efficiency, safety and reliability, using smart sensors and digital control systems. Enhanced agility and flexibility, reduced energy consumption and carbon footprint.
- Retail Stock-out prevention through connected and intelligent supply chains. Ability to predict consumer behaviour and trends, using data from video surveillance cameras, social media, Internet and mobile device usage.
- Supply Chain Real-time tracking of parts and raw materials, which helps organizations pre-empt problems, address demand fluctuations and efficiently manage all stages of manufacturing. Reduced working capital requirements, improved efficiencies and avoidance of disruptions in manufacturing.
- Infrastructure Smart lighting, water, power, fire, cooling, alarms and structural health systems. Environmental benefits and significant cost savings with better utilization of resources and preventive maintenance of critical systems.
- Oil and Gas Smart components. Reduced operating costs and fuel consumption.
- Insurance Innovative services such as pay-as-you-go insurance. Significant cost savings for both insurers and consumers. Utilities Smart grids and meters.
- More responsive and reliable services; significant cost savings for both utilities and consumers resulting from demand-based and dynamic pricing features.
Source: Ericsson, M2M Magazine 2013, Zebra Consulting/Forrester Research, IBM, McKinsey & Co.