58% of execs say IoT is strategic, and 48% of enterprises have already deployed IoT solutions.
Some insurance companies use IoT evidence to offer customers with active lifestyles discounts on health insurance premiums.
Which markets are ripe for IoT solutions?
Cisco predicts that worldwide, IoT in education has a 10-year net present value of $175 billion, which will be delivered through streamlined and personalized instruction and through the collection of data for making better decisions and reducing expenditure on instructional resources.
The Internet of Things may not appear to have much play in a market that deals primarily with intangibles, like online bill payment and counterparty risk. However, use cases are proving otherwise. For example, some insurance companies are using telematics to monitor driver behavior and determine insurance rates. A similar practice could be used to automatically adjust a client’s investment portfolio based on market changes.
There are myriad ways IoT is being used in “smart cities,” ranging from monitoring water mains for leaks and monitoring air quality for high pollution levels to assisting police with crowd management and crime prevention with video sensors. MarketsandMarkets estimates the smart cities market is growing from $51.96 billion in 2015 to $147.51 billion by 2020, at a compound annual growth rate (CAGR) of 23.2%.
According to research from MarketResearch.com, the healthcare IoT market is projected to reach $117 billion by 2020.
Savvy hotel chains are using IoT-enabled facilities to reduce energy consumption of lights, water, heating, air conditioning and more, while providing better customer experiences. For instance, some hotels are offering guests the ability to check in and unlock their rooms through their mobile apps and Bluetooth communication.
Tech-savvy retailers looking to gain a competitive advantage are installing smart shelves that detect when inventory is low, RFID sensors that track goods throughout the supply chain, systems that send personalized digital coupons to loyalty shoppers when they enter the store and sensors that monitor the quality of perishable items.
Accenture Interactive’s “The Internet of Things: The Future of Consumer Adoption,” found that nearly two-thirds of consumers intend to purchase a connected home device by 2019, while ownership of wearable technology was projected to reach a 28% adoption rate by the end of 2016.
Connectivity management. Control Center, a leading automated connectivity platform, helps ensure your IoT services run reliably, securely and at the lowest cost.
Embedded networks. These Cisco products provide reliable and secure operation in harsh environments and extreme temperatures to meet the most demanding applications.
IOx and fog applications. IOx combines IoT application execution within the fog and offers secure connectivity with Cisco IOS technology as well as services for rapid, reliable integration with IoT sensors and the cloud.
Network connectivity. Cisco IoT network connectivity helps organizations quickly scale to meet the expansive networking needs of the IoT without sacrificing the availability of their existing infrastructure.
Security. Cisco DNA (Digital Network Architecture) puts security directly into the IoT network fabric, making the IoT network a security sensor and enforcer.
IoT consulting, services and support. Don’t fumble through the IZATION transformation. Ingram Micro’s dedicated Cisco advisors will work with you to transform your customers’ networks into IoT-ready digital networks.