How Will the “Internet of Things” Affect Business?

The continuing advancement of wireless technology has created a world where devices are connected in incredible ways. Cloud computing and the increasingly widespread network of data-gathering sensors have made it possible for devices to communicate with one another to accomplish goals—a trend people are calling “The Internet of Things,” or IoT.

With IoT, it may be possible to create useful structures such as  “smart bridges,” which would be constructed out of cement containing sensors that monitor stress, fissures, or warping. The monitoring system could provide ample warning before a serious collapse. IoT would make it possible for stores to track the spending habits of their customers via their unique cell phone signatures and also make purchase suggestions. It even makes it possible for you to control every appliance in your home with your cell phone.

But what effect will the “Internet of Things” have on businesses?

The infographic below, created by Leigh-Ann Carroll with Exigent Networks in the UK, illustrates some key factors where IoT will have a definite, positive influence on the global market.

Internet of things infographic

Internet of Things Infographic by Leigh-Ann Carrol