4 Surprising Industries the Internet of Things is Transforming

July 10, 2019 - 7 minutes read

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The Internet of Things (IoT) has gained enormous popularity in recent years, and for good reason — it’s connecting people and technology in unprecedented, profound ways. As a result, it’s drastically transforming and accelerating numerous industries like healthcare and home automation.

But there are also many other industries that IoT development is changing for the better. And some of them may surprise you. Let’s take a look at a few sectors being impacted by IoT that don’t usually get the spotlight.

Optimizing Oil & Gas

Oil and gas usually isn’t the first industry that comes to most people’s minds when they heard the words “IoT innovation.” But when you examine this sector closely, it’s easy to see why it has embraced the connected technology.

With isolated sites across the world, intelligent coordination is necessary to ensure operations are running smoothly in the oil and gas industry. For instance, it’s normal for companies in this sector to send a human worker to each and every oil rig to perform a maintenance check. With IoT, however, this arduous legwork can be reduced.

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IoT sensors allow oil and gas organizations to get real-time updates around the clock. This enables them to not only keep an eye on all of their assets but also receive proactive alerts regarding repairs and maintenance.

Besides simplifying these tasks, IoT is also helping many oil and gas brands boost efficiency and cut down costs. With a wealth of data to mine and other technologies like artificial intelligence to leverage, companies are able to glean new insights and make tweaks that make substantial differences to their performance and bottom lines.

Unlocking Insights in HVAC

Heating, Ventilation and Air Conditioning (HVAC) isn’t an industry that most people would associate with cutting-edge technology. Yet for most of the modern world, it provides us a level of comfort that we notice the second it disappears. This especially holds true for hot regions like Phoenix, Arizona or Houston, Texas during the sweltering summer months.

For many homeowners, this is the exact moment they call an HVAC specialist. HVAC specialists are in charge of installing, maintaining, and removing HVAC equipment in both homes and businesses. As technology has become more complex, computerized, and automated over the years, these industry experts have needed to keep up by continually upgrading their skills.

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Fortunately, IoT is here to help. Similar to oil and gas, IoT sensors allow HVAC experts and organizations to seamlessly keep an eye on their systems. Many global brands are now using IoT to monitor climate control across their numerous branches. From there, they can easily see which locations are consuming the most energy and adjust accordingly.

Refining Retail

It’s no secret that the last few years have been hard for brick-and-mortar retail. Some analysts have even deemed this era the “retailpocalypse.” But for all the headlines and buzz around stores closing all their physical locations or going out of business, many retail organizations are still going strong. And they’re doing so by embracing new paradigms like IoT.

With a little innovative thinking, many stores are utilizing IoT sensors to keep their customers happy through enhanced experiences. As a result, this also keeps their customers loyal. For example, many stores are deploying IoT devices that can sync with shoppers’ smartphones. So if a person stops at a particular part of the store to examine an item, they could receive a message about a sale or price reduction on that item.

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IoT can also help brick-and-mortar stores solve some of the most common customer frustrations. In a 2017 study by Mood Media, waiting in line and finding that an item was out of stock were the top complaints among survey respondents. As Amazon has demonstrated with its Amazon Go stores, IoT sensors virtually eliminate any need to interact with cashiers or wait in line. Customers simply pick the items they want and walk out of the store while the purchase transaction is carried out in the background. And like our previous industry examples, IoT sensors can help store associates keep a closer eye on assets and inventory so consumers can always get what they need.

Making Precision Farming Possible

Thanks to IoT, agriculture is undergoing a revolution. Gone are the days when crop yield and livestock output revolved around educated guesses and hoping for the best. With IoT applications and sensors, farmers can ensure a more fruitful harvest without as much hard work.

With carefully placed sensors, farmers can gain real-time insights into aspects of their operations like projected yields, water usage, and any pest issues. They can also use these sensors to track the location, behavior, and well-being of their livestock.

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These crucial capabilities allow farmers to get ahead of any potential problem that could upend their results. They can make adjustments to manage and control any issues before they balloon into bigger problems.

With all of this being said, it’s no wonder that researchers are expecting 2 million farms and 36 million cattle to be connected to IoT by 2024.

What Industry Will IoT Impact Next?

Due to its versatile ability to push, pull, and act upon data, IoT is having a massive impact on many more industries than the media usually reports on. It’s an exciting time of change for both IoT developers and stakeholders in these sectors.

What industry do you think could use a dose of IoT innovation next? Let us know in the comments!

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