The Internet of Things

The Internet of Things

By 2020, smart gadget manufactures and providers may annually generate $300 billion in revenue. With 26 billion connected devices worldwide, the Internet of Things will be the perfect marketing channel for a number of burgeoning and established industries, including retail, tourism and transportation.

About 3 trillion numerous products are manufactured and sold every year.  Surprisingly, cars, electronic gadgets and other potential nominees for IoT connection comprise only 20%. of the total amount.  If that’s the, case you can replace the fridge with any other connected device - it doesn’t matter.  What does matter though is the particular data collected by the gadget.  In 2,015 34% of entrepreneurs who used IoT- generated information managed to improve their services and increase customer engagement.  By partnering with grocery stores and other consumer networks, they’ll be able to make the marketing process that much easier.  Forget the irritating ads you skip through while playing to your favorite mobile game.  When delivered properly, advertising comes as a reward.  IoT gadgets provide 100% relevant dynamic data on customer’s buying habits, which basically reads the highest targeting.  Forget about surveys, social media and reviews own; you’ve got a much more powerful marketing feedback channel to draw ideas from.  A company that manufactures smart racing boats, discovered that pilots couldn’t cope with all the data generated by the vessels.  The enterprise addressed IBM to develop a comprehensive system which only allows access to the data a pilot needs to control his boat in the moment.  The company also shares the data with event officials to increase race security and customer engagement. For all those of you that do not know, that’s a lot.

Subsequently, many odds stories have hackers breaching smart fridges and baby monitors have popped up.