Where are we?
A couple of grand events in the IoT space are mobile banking and payments, and the birth and execution of smart devices.
Over 750 million tangible, active, debit and credit cards, mobile payment options are all set to dominate over all industries in the years to come. You’ll most likely be paying with information stored on your phone or with payment apps like PayPal or Paytm. Take for example, Luminous i.e. a market pioneer of inverters manufacturing, who took their customer experience to the next level : Offering an inverter having analytics and tracking abilities, so that users can monitor their performance in real time. Airtel made this happen: They used IoT technology to collect and share data via a unbeatable mobile app, initiating a platform for proactive user-programmer interaction making inverters reliable and long lasting.
Where are we headed?
For manufacturing and automotive sectors in particular, IoT gives rise to unlimited insights at every step of production on a unit level. Every single item monitored from beginning to the end. This transparency assists progress and prevents chain reaction of the same issue. Impressive quality control like never before.
General Electric, Siemens, Cisco, and even Harley-Davidson have adopted this measures.
For our auto industry, the importance of major IoT gift, GPS can not be emphasized enough. Navigating the entire route without trouble, instant redirections in case of a wrong turn or urgent need of a pit stop. Be it road assistance or roadside assistance, the future cars may be termed as “SMART-PHONES ON WHEELS”.
Google and many other trailblazers on self-driving cars, which could be on the road by 2020. These cars eliminate the need for a driver and would allow passengers to relax or be more productive while traveling – whichever they prefer.
Some of these predictions will come to pass and some won’t, but one thing is for sure – our world is about to become much “smarter.”