IoT. We’ve probably all seen this abbreviation somewhere already. But do you know what it actually means? Is it really the next big thing in terms of innovative technologies, and what are the implications for B2B solutions? Let’s have a look.
IoT stands for the Internet of Things. It refers to a collection of physical objects, or things in the real world, featuring an embedded technology (IoT sensors or software) that allows them to connect and exchange data with other systems connected to the internet. These interconnected devices are generally not expected to have an internet connection; hence, a computer is not an IoT device. We see more and more devices which have acquired a digital intelligence which enables them to collect, communicate and transfer IoT data through automated processes without actual human interventions.
But IoT is more than just a buzzword. Since the beginning of the new millennium, the Internet of Things has been one of the most significant technological innovations across different industries. Today, literally anything can be a connected device. We’re at the beginning of a revolution.
Trendwatchers are certain that over the next decade the adoption rates of IoT will flourish as it settles in the core of our personal lives. But also increasingly in industrial B2B applications, from intelligent soda vending machines to, who would have thought, smart laser projectors like the UDX and UDM. More about the Barco IoT applications below.
According to a recent research conducted by Microsoft, 91% of the surveyed decision-makers say that their companies have adopted IoT systems in 2020. And 95% of those organizations anticipate using IoT just as much or more than they do today in two years from now. In another report, tech analyst company IDC predicts that in total there will be 41.6 billion connected “things” by 2025. That’s 5 times more than the human population!
The research by Microsoft also shows us more about the impact of the Covid-19 situation on the adoption of IoT. According to the results, one in three of the decision-makers states that their organizations will increase their investment in and commitment to IoT in the wake of the pandemic.
It seems inevitable since 2020 has changed the ways we work significantly. With travel bans and government-imposed home-office policies the need for remote solutions and automated platforms has skyrocketed. In addition, companies that have lost a lot revenue during this crisis, will be looking for innovative ways to save money. And as we’ll discuss in more detail in our next blogpost, the Internet of Things are proving to be helpful in reducing costs.
So as companies prepare for the new normal and build resilience for what the future holds, the implementation of IoT technologies will rise even more and transform businesses.
So it’s clear: the Internet of Things won’t slow down. Although it’s been around for a couple of years, IoT is the next big thing for all applications. Many businesses are acknowledging the opportunities it can bring and you really don’t want to miss this boat.
At Barco we’re also recognizing the potential connected devices can bring to our AV partners and customers. With the roll-out of our Barco Management Suite, we’re offering a cloud-based solution for remote asset management. It reduces the need for manual administration of runtimes or other data to a minimum and optimizes the operational efficiency of your devices. Today the Projector Management Suite solution is available for the UDX and UDM projectors (after activation and registration), and you can choose from three packages with varying levels of smart features.
Learn more about this revolutionary platform here and sign up for a free two-year trial of the Barco Projector Management Suite Monitor level to experience the benefits of our IoT solution for yourself.