How Can IoT and M2M Connectivity Improve Your Business?

The Internet of Things (IoT) and Machine to Machine (M2M) deployments have already carved out a substantial piece of the global market. Indeed, with tens of billions of connected devices already online all over the world, the ascent of IoT is showing no signs of abatement. Here are some IoT use cases of how businesses can use IoT and M2M connectivity to boost revenue, deliver to quality-of-life improvements, and reduce environmental impact:

IoT Use Case: Logistics Management

Let’s say your company is responsible for refilling vending machines installed in a particular city or geographic area. You fill up your trucks and have your drivers stop by each vending machine, take a quick inventory, and restock them accordingly.

However, there are a few potential stumbling blocks that could impact efficiency and bottom-line. For instance, some machines won’t require restocking and some products are bound to be in higher demand. As such, your drivers run the risk of making unnecessary stops or running out of certain products before they finish their routes.

 

With smart vending machines, capable of communicating with your delivery logistics team, you’ll be able to:

  • Eliminate unnecessary stops, and thus save on fuel costs and improve delivery times.
  • Plan routes and deliveries more efficiently.
  • Make informed purchasing decisions.
  • Reduce the amount of time to fill up your fleet of delivery trucks.
  • Generate more turn-over since refills will be done when required.

 

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IoT Use Case: Personal Services

Nobody likes looking for parking; especially in big cities, where parking spots can be scarce, and traffic is often dense. And we’ve all been there! There’s almost nothing more frustrating than showing up late for dinner plans or missing appointments due to a lack of parking.

Fortunately, more and more city planners and parking garage managers are leveraging IoT to roll out smart parking spaces. By simply outfitting parking spots with sensors, they’re able to build mobile apps that direct citizens towards the nearest available parking spaces.

 

This has several benefits, including:

  • Citizens spend less time looking for parking and miss fewer appointments.
  • Less traffic congestion and lower carbon emission.
  • Increased customer satisfaction for parking garages.
  • More efficient use of parking spaces.

 

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IoT Use Case: Smart Home Appliances 

People purchase home appliances based on the anticipated value of the appliance. While value can be calculated in any number of ways, one of the most important metrics from a consumer standpoint is long-term cost savings. How much water does a dishwasher use per load? How energy efficient are LED lights compared to incandescent lights? You get the idea.

Manufacturers are increasingly leveraging machine learning and IoT technologies to hand down extraordinary cost savings to consumers. This obviously helps them differentiate themselves on store shelves, but it also makes their products vastly more important on a macro level.

 

For example, another IoT use case to consider: the humble thermostat. By using sensors and algorithms that collect and analyze heating and cooling data in millions of homes across the globe, smart thermostats promise to reduce global demand for electricity. This means:

  • Increased power plant and grid capacity.
  • Lower carbon emissions on a global scale.
  • Reduced consumer utilities bills.

 

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