Canadian Manufacturing

EP&T: How IoT tech is increasing efficiency

Internet of things works its magic across a wide range of industries

November 5, 2020  by EP&T

PHOTO: Getty Images

The Internet of Things (IoT) is transforming industries across all sectors. Industries ranging from aviation to healthcare to retail and more are embracing IoT technologies because of their ability to increase efficiencies and reduce costs. Adoption of IoT shows no signs of slowing down.

In fact, Gartner forecasts that the enterprise and automotive IoT market will grow to USD$5.8-billion endpoints in 2020, a 21% increase from 2019, and a Business Insider report noted that the ‘IoT industry is going to be a transformative force across all organizations,’ projecting that there will be more than 41-billion IoT devices by 2027.

According to IoT analytics some of the verticals showing the most IoT projects include transportation and mobility, retail, healthcare, and buildings.

Read more on EP&T, one of Canadian Manufacturing‘s sister publications.

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