ABSTRACT
The Internet of Things (IoT) conjures up immense possibilities for delivering value through new business models across industries, products and service offerings. These include personalized healthcare, traffic management, smart manufacturing, home security, smart-energy distribution and utilization and many more. New digital business models are utilizing the power of information to replace traditional products with innovative solutions and services leveraging IoT devices. An important area that significantly benefits from the IoT is healthcare. Connected healthcare offers immense possibilities. Smart retail solutions are providing cashless buying options and eliminating the need for point-of-sales counters. Smart homes have IoT-enabled appliances such as smart lighting systems and temperature controls that enable substantial energy savings. Connected cars are helping drivers to identify optimal routes by assessing the traffic along city transport networks.
Some of these potential IoT applications in the domains of healthcare, retail, the home, automotives and energy have been discussed here to showcase the breadth and depth of IoT’s potential. We will witness a wave of IoT service offerings and applications across domains in the coming years.
