4 Biggest Opportunities for IoT Innovation

It is that phase in the IT scene, where IoT has become more than a buzzword. It is now a core technology that is influencing everything it’s touching. What started off as a simple infrastructure connecting a few devices with sensors is now a massive trillion dollar industry. Not just in the US but in India as well, the industry is simply exploding with opportunities and revenue.

IoT or the Internet of Things is opening up newer avenues in the IT industry scene in India in tandem with Big Data and Data Science. However, innovations are still on the cards and are happening at places around the country, where countless experts and researchers are working on real-life concerns and coming up with technical solutions. Today, if IoT stands relevant to the Indian lifestyle, it has four big opportunities in front of it for innovation. Have a look.

Agriculture

As you know, the agriculture sector in India is in a bad shape. Being predominantly a country that depends on monsoon for crop irrigation, we desperately need a solution that could better crop yields, bring down water requirements and let farmers take better-informed decisions on what to harvest. With data and sensors, this is completely possible and in states like Andhra Pradesh, smart farming is a reality, where farmers are trained on using technology for farming. With smartphones, apps, sensors and controllers, farmers can control field conditions from remote and implement precision irrigation for optimized harvest.

Energy Consumption

One of the other biggest concerns we have in front of us is energy consumption. With growing population, we have lost track of energy consumption today and thanks to our lethargic attitude, we hardly care about the environment. In such cases, it is technology that has to offer an ideal solution and thankfully, it does. With IoT, it is easier to limit the consumption of electricity and fuel. Smart homes and smart illumination are all designed to automatically turn off when there is no one in a room and give real-time updates on energy consumption. This eliminates us from taking energy requirements for granted and paves the way to make informed decisions on electricity and fuel usage.

Healthcare

Of all the basic needs, healthcare is very crucial and it is saddening to note that there are tons of counterfeit medicines in the market out there. What’s the worse part? People are unaware of such medicines and intake them without their knowledge. This is a serious concern that IoT has the potential to solve. As a relieving factor, there are some companies working on offering genuine medicines by using IoT infrastructures and QR codes to assess the legitimacy of medicine purchases. If these reach more people, fake medicines can be permanently be done away with.

Transportation

Connected cars are increasingly making their ways to the market. High-end models now come connected to the internet and offer you a smartphone app for various usage. However, more innovation on this can be more beneficial to owners in terms of fuel usage, emissions per trip, notifications on a car or spare part malfunctioning, driver behaviour, speed limiter, geographic locations, door and trunk lock/unlock, social media sharing and more. In fact, features to add carpooling facilities can also have a huge impact on the environment and we are sure this would soon be a reality.

These were our thoughts on 4 big opportunities for IoT innovation and if you have something different in mind, share them over your comments.