The Internet of Things is transforming the way companies make the things they sell.
In products ranging from toys to jet engines and beyond, sensors are getting involved all along the way, ultimately promising that businesses will gain additional consumer insights and improve customer satisfaction.
More than half (61%) of product manufacturers already are in early or active IoT deployment, based on a new research report on the challenges and opportunities relating to the Internet of Things.
The study comprised a survey of 600 companies conducted by Harbor Research for Xively, a Boston-Based IoT company.
Almost a third (29%) of companies are actively deploying IoT initiatives and only 5% of businesses have no plans to do so. Here’s the breakdown of stages that the businesses are in relating to the Internet of Things:
One of the most obvious expected returns from IoT adoption is to improve efficiency. But IoT connectivity can provide much more than that.
For example, installing LED lighting in a large store can create immediate cost savings in energy usage. However, that same new lighting can track foot traffic, smartphone presence and facilitate new interactive messaging capabilities for shoppers.
Some businesses see the benefits beyond improved efficiency. Here are the most anticipated benefits:
More interestingly, those already underway with IoT initiatives are seeing significant business improvements, according to the study. Here are the improvements seen by those already deploying connected products:
They had me at customer insights.