The Internet of Things (IoT) is already transforming business and industry all over the world. By the year 2020, approximately 80 billion connected devices will be operating within the IoT, according to Frost & Sullivan. The IoT is the future not only in the service sector, but also in the industrial sector and on a global level. We will be able to monitor, track, and manage the flow of material, information and money through global and local supply chains using smart systems.
Decision makers will also be more confident in making decisions that are based on real time and accurate data. This data will be collected by sensors and processed in the cloud continually. Resources consumption will be smarter with higher utilization of our equipment and facilities. The integration among systems will require a certain level of collaboration between stakeholders to achieve the…
