Used in a range of sectors, from manufacturing to transportation, the potential value of the Internet of Things is large and growing. By 2030, McKinsey estimates it could amount to up to US$12.5tn globally.
IoT offers a multitude of benefits, which can be transformative in terms of operational efficiency, customer experience, and product innovation:
- Enhanced Efficiency and Productivity: IoT devices can automate and optimise routine tasks, reducing human errors and increasing overall business efficiency. For instance, in manufacturing, IoT sensors can monitor equipment performance and predict failures before they occur, thereby minimising downtime.
- Data-Driven Insights: The data collected from IoT devices can provide valuable insights into customer behaviour, preferences, and trends. Businesses can leverage this data to make informed decisions, tailor products and services, and identify new market opportunities.
- Cost Reduction: IoT can help businesses reduce operational costs by improving asset utilisation, enhancing process efficiency, and reducing maintenance costs through predictive maintenance.
- Enhanced Safety and Security: In industries such as manufacturing, oil and gas, and construction, IoT devices can monitor worker safety and environmental conditions, reducing the risk of accidents. Additionally, IoT can enhance security through smart surveillance systems and real-time monitoring.
- Sustainability and Environmental Monitoring: IoT can play a significant role in environmental monitoring and sustainability by optimising resource use and reducing waste. For example, smart energy management systems can reduce energy consumption and carbon footprint.
Here, we explore 10 of the leading companies in the world of IoT.
10: Software AG
With its Cumulocity IoT platform, Software AG allows organisations to start IoT development faster, scale more easily and evolve solutions to meet market needs. From connected product manufacturers to machine operators and plant managers, teams can quickly connect devices and sensors, and integrate and analyse the data they generate.
Software AG’s platform enables organisations to bridge their OT and IT landscapes, using its unique combination of leading IoT & integration capabilities. Its IoT solutions are used in a variety of industries, such as manufacturing, retail and transport & logistics.
9: Bosch
Bosch provides an IoT suite for connecting and managing devices, gateways, and sensors. It provides secure access management as well as an open IoT platform for all types of domains.
Bosch IoT Insights is a fully managed cloud service that collects, processes, and stores users’ IoT data for further analytics. Bosch IoT Insights is a one-stop self-service tool that gives organisations the freedom to work independently and autonomously with their data.
8: PTC
PTC’s ThingWorx industrial IoT platform provides the functionality organisations need to flexibly build and securely scale their mission-critical IoT solutions. The solution delivers tools and technologies that empower businesses to rapidly develop and deploy powerful applications and augmented reality (AR) experiences.
PTC says that ThingWorx simultaneously removes the technical barriers to Industrial IoT implementation, while emphasising practical solutions that quickly return value. Its solution enables organisations to maximise revenue, accelerate innovation, reduce costs and improve quality.
7: Huawei
Huawei's IoT strategy is to supply IoT infrastructure and build an ecosystem through expanded connections, cloud services and AI. Its global IoT cloud services ecosystem will help carriers quickly access and deploy IoT services, and accelerate their business success in IoT.
The company offers a range of IoT solutions such as connected cars, public utilities and predictive maintenance.
6: Qualcomm
Qualcomm IoT technologies and solutions utilise the real-world Connected Intelligent Edge to offer end-to-end, ready-to-deploy solutions so customers can digitally transform their businesses to optimise their operations, monetise massive amounts of data, innovate in new ways and drive cost savings.
By connecting previously unconnected things, customers can improve decision-making based on data collected and analysed in near real time. Qualcomm solutions efficiently and intelligently process massive amounts of data, including video, using on-device AI for real-time applications.
5: Intel
Intel is bringing together edge compute, 5G connectivity and AI to enable smarter, faster IoT solutions.
The company works alongside industry leaders to prioritise industry standards, and continuously collaborates with ecosystem partners to bring ready-to-deploy solutions that accelerate insights, optimise investments and protect data.
Its solutions can be used in a range of industries such as retails and healthcare, where Intel offers a number of IoT solutions for telehealth, medical imaging and diagnostics to enable better patient outcomes.
4: Cisco
Offering an unparalleled end-to-end IoT architecture, Cisco’s IoT products and solutions help enterprises connect and monitor IoT devices, secure and automate OT operations and compute and manage data.
Its end-to-end IoT solutions can be leveraged to drive results in a number of industries, from manufacturing and utilities to smart cities. Customers such as Audi have used Cisco solutions to transform their operations and enhance efficiency and sustainability with new sensors, smart devices and smart processes.
3: Siemens
Siemens offers a comprehensive portfolio of IoT solutions to meet a range of organisations’ needs, including smart building and Industrial IoT.
Siemens’ Insights Hub, formerly known as Mindsphere, drives smart manufacturing through the industrial Internet of Things (IIoT), enabling users to gain actionable insights with asset and operational data and improve their processes.
Meanwhile its smart building IoT solutions improve the operational efficiency of buildings, enhancing occupant wellbeing and increasing staff productivity, as well as optimising space and asset utilisation.
2: AWS
AWS offers Internet of Things services and solutions to connect and manage billions of devices, for industrial, consumer, commercial and automotive workloads.
From optimising industrial operations to reinventing smart buildings and cities, AWS’ IoT offering enables organisations to accelerate innovation with the most complete set of IoT services. From secure device connectivity to management, storage, and analytics, AWS IoT has the broad and deep services needed to build complete solutions.
With AWS device data can be secured with preventative mechanisms, like encryption and access control, and users can consistently audit and monitor configurations with AWS IoT Device Defender.
Its IoT offering has been utilised by companies such as Volkswagen Group, which uses AWS IoT to increase plant efficiency and uptime, improve production flexibility and increase vehicle quality.
1: Microsoft
With the the largest ecosystem in the industry, Microsoft’s Azure IoT network benefits from thousands of partners to deploy hundreds of proven, repeatable solutions.
Its best-in-class tools enable organisations to quickly connect and monitor billions of devices on a fully managed IoT platform to innovate faster and reduce the burden of managing infrastructure.
Microsoft offers a range of IoT solutions. Its Azure IoT Hub provides a cloud-hosted solution back end to connect virtually any device. Extend your solution from the cloud to the edge with per-device authentication, built-in device management, and scaled provisioning.
Meanwhile Azure IoT Operations – in preview at the time of writing – enables organiastions to capture asset data, process it at the edge and send it to the cloud with Azure Arc–enabled services.
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