Monnit: Inside the IoT May 2023

Internet of Things Intersection

Where Business Needs and IoT Solutions Meet

Are your managers pressed to make more data-driven decisions? Do you need increased visibility across siloed business operations? Or are there processes that need to be more efficient, optimized, or automated?

If so, your business is an ideal candidate for digital transformation by implementing Internet of Things (IoT) technologies. Just wanting predictive analytics capabilities to prevent problems and promote productivity is reason enough.

This article from Aleksandrs Malins, founder and CEO of FortySeven Software Professionals and a Forbes Councils Member, shares four circumstances when businesses are prime for the IoT.

Please take a few minutes to read the article’s introduction below. For the full article, click the links.

The constant technological advancements have prompted businesses to seek ways to enhance their operations and improve efficiency all the time. It has become a never-ending process of business optimization. Working in IT for more than a decade, I see my goal in everyday work as adding value to our customers’ businesses by adopting and implementing new technologies.

A few days ago, I dipped into some statistics on adopting different technologies. The number of IoT devices worldwide is expected to rise from 9.7 billion in 2020 to more than 29 billion by 2030, and researchers are predicting that China is expected to have the highest number of IoT devices by 2030. This growth can perhaps be connected to the increased understanding of this technology.

For example, we were implementing IoT technologies into a financial payment system project. At the project’s inception, our customer was skeptical about the journey. However, their perspective changed after we explored the technology’s implementation in greater detail. Upon understanding the process better, they were able to move forward and identified inefficiencies in their payment processing system.

Read the rest of the article.

Vertical Market Focus

Top IoT Preventive Property Maintenance Practices

Growth and competition in commercial real estate and multifamily housing continue to rise in many markets. Realtors, landlords, and property managers must handle regulations, hybrid working conditions, bidding wars, and tenant demands for nearly every space—from offices to apartments.

Seamlessly fulfilling these responsibilities while keeping facility functions optimal put facility and property managers in the spotlight. Overall, they must keep quality property management services at the forefront to retain residents and tenants.

Around-the-clock remote monitoring using Internet of Things (IoT) technologies can reduce their worry about essential functions like plumbing and HVAC performance. Read how property managers optimized apartment building smart monitoring with preventive measures to reduce energy, operational, and capital expenses.

Get our apartment and property management use case.

How to monitor properties with the IoT

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IoT Insights

IoT Adoption in the Retail Market Continues to Rise

According to a new report by Grand View Research, the global Internet of Things (IoT) in the retail market is expected to grow at a compound annual growth rate of 28.4% from this year into 2030.

IoT devices and connectivity can improve various products and services across the retail industry—from warehousing, equipment, and facility maintenance and management to supply chain monitoring, customer communication, and, of course, shopping.

This short article on Instoremag.com summarizes the retail IoT growth report and how connected technologies can create a seamless shopping experience. Read the beginning of the article below and click a link to review the full article.

The use of Internet of Things (IoT) technology in the retail market is expected to reach $297.4 billion by 2030, an annual growth rate of 28.4 percent, a new report by Grand View Research Inc. concludes.

“This growth is attributed to the adoption and implementation of connected technologies, such as Bluetooth Low Energy (BLE) and Near-Field Communication (NFC), for enhanced shopping and payment experience,” the report notes. “Furthermore, with the reduced cost of IoT sensors and hardware and the demand for a seamless shopping experience is expected to fuel the adoption of IoT in the retail market.”

Learn more about IoT monitoring in retail facilities.

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