The Internet of Things (IoT) is an exciting technology helping to usher in a new era. The more connected the world becomes, the more technology is transforming the ways in which we do business. For firms in all industries, the IoT is changing the way they operate and, in many cases, can help improve efficiency, promote better decision making and create competitive advantages.
Simply put, the IoT is a technology that extends Internet connectivity to physical objects with the use of sensors, which allow them to connect to a network. The connected device can be controlled digitally and allows for the collection of useful data. The IoT is about more than connecting your appliances to your smartphone.
Forward-thinking businesses that realize the technological revolution are utilizing the IoT to resolve business challenges; for example, by automating low-level tasks that previously could only be effectively performed by human employees. Implementing IoT technology to help automate business processes helps improve organisation and streamline communication, which enables employees to focus on critical business matters such as customer relationships.
According to market research firm IDC Canada, the market value for the IoT as a service is expected to reach $13.5 billion by 2019. This growth will open up new opportunities for businesses and startups looking to enter the industry as service providers of everything from hardware to data management. Furthermore, Business Insider predicts that total business spending on IoT solutions will reach $6 trillion by 2021.
For businesses seeking to implement end-to-end IoT technology, Comwave has fast, cost-effective solutions to fit your needs. From secure cloud phone systems, Internet, private networks, long distance and turnkey hosted PBX solutions, Comwave understands the changing needs of businesses in today’s industry.
Even if your business doesn’t deal directly with technology, you can expect the IoT to affect how you conduct business. As technology continues to narrow the gap between the physical and the digital, the IoT will help businesses improve product and service offerings, provide customizable solutions, and deliver a more personalized experience to customers. The IoT has the potential to influence business operations in fundamental new ways and offers endless possibilities for business growth.
To find out how Comwave supports businesses with IT solutions that help streamline operations, maximize productivity, and deliver value to your customers, please visit Comwave Business or call 1-866-770-8522.
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