Let's take a look at how different industries are leveraging IoT in the era of Industry 4.0.
1. Retail Industry
The advancements of Industry 4.0 have taken the retail industry to new heights. Some IoT trends for the retail industry include automated payment systems, smart furniture, and robotic employees.
The advancements of Industry 4.0 have taken the retail industry to new heights. Some IoT trends for the retail industry include automated payment systems, smart furniture, and robotic employees.
2. Healthcare Industry
In recent years, we have witnessed remarkable contributions of IoT and its applications in the healthcare sector. The value of IoT in the healthcare industry was estimated to be around $147.1 billion in 2018. Based on a survey conducted by Aruba, approximately 87% of healthcare organizations worldwide planned to implement IoT technology into their services in the 2019-2020 period.
The development of IoT has opened up opportunities in diagnosing, detecting, and treating critical illnesses. Some applications of IoT in the healthcare industry include surgical-assisting robots, the use of artificial intelligence in image diagnosis, and 3D printing technology. Furthermore, IoT technology is applied to reduce costs, store patient information, and enhance the quality of services in healthcare facilities.
3. Agriculture Industry
The agriculture industry can experience significant advancements by adopting IoT technologies. Research data analysis, smart weather prediction, and automated harvesting systems can bring tremendous benefits to businesses.
However, the adoption of IoT in the agriculture industry in Vietnam may face challenges during the widespread implementation due to operational costs and the need for training human resources, especially for small and medium-sized agricultural enterprises.
4. Logistics and Supply Chain Industry
In the supply chain, using IoT devices is an effective way to track and confirm the movement of goods and products. Furthermore, IoT can help businesses monitor and adjust the quality of warehouse storage, enabling centralized quality management throughout the entire process.
However, IoT devices perform best with stable internet connectivity. In cases of poor internet connection or areas with high electromagnetic interference, IoT devices may experience disruptions during operation. Additionally, the installation and maintenance of these devices require well-trained and professional human resources.
5. Manufacturing Industry
When it comes to the Industrial Revolution 4.0, the applications of IoT in the manufacturing industry cannot be overlooked. Industrial IoT (IIoT) is creating significant value in this industry, including cost reduction in product manufacturing, centralized management, data analytics, and warehouse management. To achieve this, companies and factories are implementing technologies such as artificial intelligence and automated robots in their work processes.
According to a survey, by 2020, the global manufacturing industry will invest around $70 billion in IoT solutions, and factories will use IoT devices to enhance production efficiency, as well as storage and data analysis for the entire management and manufacturing process.
However, the initial cost of installing these devices can be high, and companies need to have sufficient infrastructure to meet the demands of the business.
The flexibility of IoT technology has brought many benefits to our daily lives and the economy. Therefore, let's look forward to the development and applications that IoT will bring to us.
(Source: Forbes, Visual Capitalist)