In the last article, I provided a very short explanation on the Internet of Things. So, what problems does IoT solve? Some of the areas where the IoT is making progress are
1. Healthcare – Patient monitoring and home care systems
2. Smart grids – Utilities in general but more specifically efficient energy consumption
3. Industrial Internet – Efficient maintenance and energy conservation
4. Transportation – Smart logistics
5. Consumer wearables – Fitness, consumer engagement etc
There are many verticals where companies are beginning to experiment with IoT related technologies and I will be writing about what specific problem IoT is solving and how it is providing value and monetization opportunities.