The Industrial Revolution marked a major turning point in history as the world transitioned from manual labor to machine production. Virtually every aspect of daily life was influenced in some way through the introduction of machines and the rise of the factory system. Today we are on the brink of the next Industrial Revolution with the integration of the internet of things.
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According to a report from BI Intelligence, there will be 34 billion devices connected to the internet by 2020, and nearly $6 trillion will be spent on IoT solutions in the next five years. It’s this incredible growth that gives IoT the potential to revolutionize everyday life similar to the Industrial Revolution of the early 1800s. While IoT has the potential to impact a number of industries, there are a few notable places where we will see the strongest impact as adoption continues to grow: healthcare, transportation and agriculture.
IoT in healthcare
Today we’re seeing IoT integrated into the healthcare industry through the adoption of connected devices. At Vodafone, we’re working with ASD Healthcare, the largest distributor of oncology and supportive care drugs to health systems and specialty pharmacies. Through this partnership, we’re witnessing firsthand the ability to move patient care and monitoring into the home with ASD Healthcare’s Cubixx line of smart medical devices and we’ve seen the extent to which IoT can impact the patient care system. With access to instant data, physicians can reliably monitor patients in real time, ensuring proper treatment. This ultimately leads to better accountability among patients, and could reduce hospitalizations in some cases.
IoT in transportation
The connected car has been an IoT buzzword recently, as cutting edge connected technology is increasingly integrated into the auto industry. In a recent whitepaper on IoT and transportation, Vodafone stated that 82% of automotive leaders are confident most cars will be connected by 2020.
However, the impact of the integration of IoT throughout the transportation industry will have impacts far beyond the physical alteration of cars as they become connected. What will ultimately transform the auto industry is the ability for automakers to become an asset as many industries begin to seek insights from instant data generated by vehicles. The biggest impact on this industry will involve collaborations with retailers, insurers and smart city solution providers. We’re going to see the emergence of user-centric services that will transform data into a massive business value.
IoT in agriculture
The aforementioned BI Intelligence report states that with a growing global population, the world will need to produce 70% more food in 2050 than it did in 2006 in order to feed the population. IoT is currently being leveraged for analytics and greater production capabilities to meet the needs of our growing world, and in doing so completely revolutionizing the agriculture industry. Right now, we’re adopting practices that integrate IoT technology such as smart agriculture and precision farming to improve production output, minimize cost and preserve resources. The adoption of these technologies has been so impactful that the same report projects IoT device installations in the agriculture world will increase from 30 million in 2015 to 75 million in 2020. IoT has become a massive disruptor for one of the oldest industries, completely revolutionizing the way we grow food.
By looking at how quickly IoT adoption has risen across all industries, it’s clear that this revolutionary technology will change the world we live in.
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