The Internet of Things enables new business opportunities by connecting your devices, sensors, cloud services and data to create the Internet of your things. The market value of IoT is massive as the market value is directly proportional to the number of devices that is 1.9 billion today and 9 billion by 2018.
Here are the top way to wealth creation by IoT.
The proliferation of connected devices under the internet of things (IoT) promises to disrupt the industry further by increasing the number of opportunities for advertisers to learn about and sell to consumers. British Airway’s smart billboard ad in Piccadilly Circus, London wowed passersby in 2012 as a small boy reacted to overhead planes in real time, promoting the flights and their current destinations and Lexus Australia caused a stir down under with its campaign to attract car drivers with personalized messages on an overhead billboard while one US retailer Forever 21 used an ingenious thread screen to turn customer selfies into threaded pictures in store.
Machina research, in a paper prepared for the GSM Association, sees $100 billion in revenue by 2020 for applications such as toll-taking and congestion penalties. A related revenue source will be smart parking-space management, expected to drive $30 billion in revenue.
In Cincinnati, residential waste volume fell 17% and recycling volume grew by 49% through use of a "pay as you throw" program that used IoT technology to monitor those who exceed waste limits.
Here are the top way to wealth creation by IoT.
Connected advertising and marketing:
The digital advertising industry is already undergoing something of a transformation. While facing an existential threat from the ascendant ad blocker, advertisers are leading the charge to create ever more tailored advertising experiences.The proliferation of connected devices under the internet of things (IoT) promises to disrupt the industry further by increasing the number of opportunities for advertisers to learn about and sell to consumers. British Airway’s smart billboard ad in Piccadilly Circus, London wowed passersby in 2012 as a small boy reacted to overhead planes in real time, promoting the flights and their current destinations and Lexus Australia caused a stir down under with its campaign to attract car drivers with personalized messages on an overhead billboard while one US retailer Forever 21 used an ingenious thread screen to turn customer selfies into threaded pictures in store.
Intelligent traffic management systems:
The traffic experts at INRIX report that British drivers spend 30 hours per year in traffic jams. For German drivers it’s 35 hours. In the USA, the San Francisco Municipal Transportation Agency says that 30 percent of the city’s traffic congestion is caused by drivers looking for a place to park. And the Texas Transportation Institute estimates the annual cost of traffic congestion in the United States alone adds up to $87.2 billion in wasted fuel and lost productivity. Much of this congestion could be addressed with smart Internet of Things technologies that already exist, such as intelligent traffic systems.Machina research, in a paper prepared for the GSM Association, sees $100 billion in revenue by 2020 for applications such as toll-taking and congestion penalties. A related revenue source will be smart parking-space management, expected to drive $30 billion in revenue.
Waste management systems:
As a major application field of IoT, waste management has become one such issue. The absence of efficient waste management has caused serious environmental problems and cost issues. Therefore, in this paper, an IoT-based smart garbage system (SGS) is proposed to reduce the amount of food waste. In an SGS, battery-based smart garbage bins (SGBs) exchange information with each other using wireless mesh networks, and a router and server collect and analyze the information for service provisioning. Furthermore, the SGS includes various IoT techniques considering user convenience and increases the battery lifetime through two types of energy-efficient operations of the SGBs: stand-alone operation and cooperation-based operation.In Cincinnati, residential waste volume fell 17% and recycling volume grew by 49% through use of a "pay as you throw" program that used IoT technology to monitor those who exceed waste limits.
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