The top 10 IoT use cases and the benefits behind them.

The Top 10 IoT Use Cases

IoT is still growing exponentially and the good news is that the ROI for such investments is also growing too. Couple this with the need to digitalise your organisation, it is making it one of the best places to invest as a business.

The Top 10 use cases for IoT right now are

1, Process Automation

2, Quality Control and Management

3, Energy Monitoring

4, Real time Inventory Management

5, Supply Chain Track and Trace

6, Operations Planning and Scheduling

7, On-site Facility Track and Trace

8, Asset Performance Optimisation

9, Remote Asset Monitoring

10, Location Tracking

This information above is with thanks from the extensive market analysis of IoT Analytics, a leader in research within this sector and based on 27 use cases.

Any surprises?

Not really, overall the results look very accurate against the IoT market and use cases such as using IoT for process automation are obvious areas that can offer repeatable savings in labour, costs and of course increase efficiency. There are many ‘manual’ tasks being performed that waste human time and also increase risks of poor information (or none at all) being recorded.  Energy monitoring using IoT is a very effective way to eliminate waste, drive down costs and also stand behind ESG and sustainability claims. Using IoT for tracking figures prominently within the list which again is no real surprise as organisations benefit from closer control of assets and people using IoT. The value across this area for some instances can sometimes be hard to put into hard savings but the risk of loss of high value or specific task related assets is obvious and painful to any business and its bottom line. Our biggest surprise was that asset performance optimisation using IoT was at a lowly 8 in the list as this (with the added benefit of continual performance monitoring) seems a no brainer use case to save money, eliminate waste and also better understand wear, maintenance and breakdowns. Unplanned maintenance, downtime and everything that occurs because of a lack of this is a big, unwelcome cost and workload addition to organisations that are already often stretched.

Statistics?

Within their latest report IoT Analytics found a huge 91.7% of IoT use cases saw ROI on investment in IoT which is a big improvement on previous years and a very healthy result for anyone thinking of adopting IoT in their organisations. They also report a 53% rise in organisations implementing IoT use cases which is a massive statement as to the value of deploying IoT and the real world value of IoT solutions.

More good news

1, Complexity of IoT has reduced as solutions have evolved and experience is brought to bear within the market.

2, Set-ups have been made easier using modern IoT platforms and architecture and the addition of no or low code applications such as Assetbook IoT.

3, Less issues with interoperability help make IoT projects a success and the use of multi protocol solutions help with ensuring everything plays nicely together.

The brilliance of IoT and the unification of services

Using IoT for a digitalisation of your business or organisation is a key way to improve all aspects of the operation. From better supply chain tracing to improved up-time on machinery via preventative maintenance, IoT really is the way to harness technology for the better. Imagine driving down energy bills into the future whilst still operating fully or easily knowing where all of your assets are in any given moment, with it all happening in one single pane of glass view. With IoT use case ROI generally now under 2 years they are a compelling case but in some instances the payback or ROI has been less than 8 weeks! It is also worth mentioning though that there are many intangible, customer centric benefits to operating an IoT platform such as sending links out to a stranded motorist so they can track the recovery vehicle on route for instance. 

Deploying IoT as a business

From the outside it always seems (and has been traditionally) more complex than many users were able to comprehend but with the ease of AssetBook IOT we put the ball firmly back in your court and give you the tools and support to build and develop your own AssetBook instance that fits whatever are your needs. Simple, intuitive building blocks coupled with a low or no code approach to most elements of the system make for a very user friendly IoT platform. Couple this with our end to end IoT approach, you only need one vendor that gives you access to devices and protocols from anywhere. As we are device and protocol agnostic you have the choice of over 1.5m devices and counting in the search for the perfect IoT solution for your needs. Reporting and analytics are simple and easy and every single stakeholder within your organisation can have a dashboard to bring them the data and functions that they need. IoT is a perfect tool to bring new technology to bear while harnessing legacy systems to form part of the bigger picture too, a real win-win. 

Why not find out more?

We offer webinars, articles, blogs and discovery calls where our advice, publications and demonstrations can help you navigate to the decision point on your IoT strategy easily without any stress or hard sell. If a solution is not ideal for you, we would not suggest it as it is just not our way. Our job is to consult with you, find out via discovery where there is pain or a need for IoT in your organisation and to show you how IoT solutions can provide relief, savings and efficiencies.  

Source statistics used in this article are courtesy of  https://iot-analytics.com/top-10-iot-use-cases/