The Internet of Things (IoT) is transforming the everyday physical objects that surround us into an ecosystem of information that will enrich our lives. From refrigerators to parking spaces to houses, the IoT is bringing more and
more things into the digital fold every day, which will likely make the IoT a multi-trillion dollar industry in the near future.
While the IoT represents the convergence of advances in miniaturization, wireless connectivity, increased data storage capacity and batteries, the IoT wouldn’t be possible without sensors. Sensors detect and measure changes
in position, temperature, light, etc. and they are necessary to turn billions of objects into data-generating “things” that can report on their status, and in some cases, interact with their environment.
Because sensor endpoints fundamentally enable the IoT, sensor investments are an early indicator of the IoT’s progress. And, according to PwC’s 6th Annual Digital IQ survey of nearly 1,500 business and technology executives, the IoT movement is underway.
Why the Internet of Things matters to consumers and businesses
The IoT can help consumers achieve goals by greatly improving their decision-making capacity via the augmented intelligence of the IoT. For businesses, the Internet of Business Things (IoBT) helps companies achieve enhanced process optimization and efficiencies by collecting and reporting on data collected from the business environment. More and more businesses are adding sensors to people, places, processes and products to gather and analyze information to make better decisions and increase transparency.
Global sensor adoption: Asia leads; North America lags
Our respondents from Asia were more likely to say their companies are investing in sensors, followed closely by Latin America. On the flipside, North American respondents were least likely to say their companies are investing in sensors and they have no plans to close the global gap. Asia (26%) and Africa (18%) expect to invest more in sensors this year. Only 8% of respondents from European companies and 7% of respondents from North American businesses said they plan to boost their investments.
Via pcw.com.
Advertisement
Learn more about Electronic Products Magazine
