In 2021, the volume of the global Internet of Things (IoT) market reached $384.7 billion, and by 2029 it will grow to $2.465 trillion.
The benefits explain such dynamics: the analysis of data from IoT devices allows you to increase the efficiency of business and production, reduce costs, increase the speed of response to incidents, manage monitoring objects, and more.
A single network is needed for IoT devices to collect information, process it, and exchange data with other devices, people, and servers. IoT platforms are used, including cloud ones.
IoT platform software allows you to connect sensors, controllers, and other IoT devices to the cloud or server and interact with them remotely. The platform is an intermediate level at which device data is collected, analyzed, visualized, and presented to the user.
There are many use cases for IoT platforms. Let’s highlight a few.
Smart House: Platforms allow you to create integrated intelligent home control systems with support for any device. According to Statista and PwC, the Russian innovative home equipment market volume in 2021 amounted to $1.2 billion. Thanks to IoT platforms, developers can quickly develop a vertical IoT solution for a specific task and bring it to market.
Innovative housing and communal services: Using the IoT platform, you can create applications that satisfy the demand of home buyers for manufacturability, resource savings, and comfort. Smart meters, smoke, humidity, leakage, gas sensors, security systems, and emergency response – IoT platforms work with any innovative home equipment needed to implement IoT solutions in the urban environment.
Smart manufacturing: You can create intelligent enterprises based on IoT platforms – solutions for monitoring the status of machines, production lines, and sites. Such systems make it possible to detect failures promptly, save production resources, assess equipment wear and tear and analyze the workload of the machine park.
Smart cities: Expanded compatibility and the ability to connect many devices allow IoT platforms to be used to create large-scale infrastructure solutions for entire intelligent cities. Such projects improve citizens’ quality of life and are in demand in all countries of the world – partially similar solutions are already being used in Moscow, St. Petersburg, Beijing, Singapore, Zurich, New York, and Rome.
Connected cars: Such products are in demand in the field of carsharing and car insurance: to analyze drivers’ behavior, notice breakdowns in time, and monitor car location. IoT system data helps businesses operate their fleet more economically and safely.
Also Read: The IoT Platform Solves Tasks
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