There are billions of devices, services and systems being connected every minute of every day. The end consumers are getting maximum benefit from the enhanced lifestyle use cases and companies becoming more efficient as they minimize their operational costs and increase their asset utilization.
There are tons of areas where IoT is working hand in hand with the real-time Artificial Intelligence (AI). Edge connected devices are shifting the paradigm from central clouds to decentralized, ubiquitous intelligence.
The use cases of IoT focus on delivering cost savings from fuel, energy and labor and they more often than not have a significant financial impact and shorter payback time frames.
Here is what the IoT market is expected to look in the future.