If you possess a habit of reading or watching news frequently, you must have come across one or the other headlines referring to a smart watch, saving the lives of handful of people. All thanks to IoT!
IoT is no more a myth. It is a reality that is impacting almost all the industries including leaving its footprints in our day-to-day lives. From the smart phones you are holding right now to any health gear you won, most of the basic things today comprises the application of IoT. The presence of IoT is already been immensely felt in major businesses and this article pours light on five of them. However, prepping to accommodate with the impacts left by IoT, professionals are making it a point to acquire IoT Training by enrolling in IT courses.
How IoT is Changing Businesses?
- Healthcare: It is one of the most IoT impacted industries. Apart from the fitness bands which help in tracking the health of an individual, IoT has also resulted into a number of IoT Healthcare Solutions. Right from Remote Patient Monitoring (IoT based patient monitoring system) – which enables to monitor the different aspects of the patient’s recovery to IoT enabled hygiene monitoring devices.
Confirming the growth of IoT in Healthcare, Business Research Company said that the Global IoT enabled healthcare equipment market is likely to grow from $18.8 billion in 2018 to $69.7 billion in 2023 at an annual growth rate of 29.9%.
- Agriculture: Agriculture being a pivotal industry for a developing country like India requires ample developments – in which IoT is assisting substantially. IoT based smart agriculture monitoring system where a system is developed to observe the crop field with the assistance of sensors. The popular examples of Smart Agriculture are Agriculture drones, Smart Greenhouses and Precision Farming.
A report published by Allied Market Research stated that the global IoT in the agriculture market is projected to engender $48,714 million by 2025, growing at a CAGR of 14.70% from 2018 to 2025.
- Manufacturing: Manufacturing industry since the advent of IoT has been utilizing it to its greatest extent. For instance, through the Industrial Internet of Things (IIoT), critical production or maintenance conditions can be easy detected and taken action well before time.
The IIoT market size is estimated to reach USD 91.4 billion by 2023 from USD 64.0 billion in 2018, at a CAGR of 7.4%.
Job & Overall Market of IoT
The job opportunities for IoT trained candidates can be much predicted as high with Gartner forecasting, that by 2020, 20.4 billion connected things will be in use worldwide. Thus the growth of IoT and professionals with IoT knowledge will go hand in hand, affirming there won’t be any dearth for IoT related jobs and the scopes are pretty high for those who take the call to be a part of this booming development right now.
- Almost 47% of the organizations admitted that there is a lack of skilled professionals and almost one in four (38%) IoT adopters face technical difficulties using IoT successfully.
- Businesses are also quite optimistic about the growth and prospects of IoT. On that account, Businesses believe in seeing a 30% ROI on their ongoing or future IoT projects.
- The World Economic Forum claimed that IoT will fuel the Fourth Industrial Revolution by offering technological transformations, transforming business models and developing better dynamic distributed networks.
- The study titled ‘IoT India Salary Study 2017’ suggested that the salaries of skilled IoT professionals in India are around 76% higher than the general IoT professionals and the median salary of IoT professionals is Rs 15.2 lakh compared to Rs 8.65 lakh per annum in IT sector.
- With the necessary skills in sensors, Cloud management, big data, Communication gateways, Communicative chips, etc., the IoT professionals can fit into the emerging job roles such as IoT Product Managers, IoT Architect, IoT Developer, IoT Cloud Engineer and so on.
Search for IoT related jobs any day and you will find tons of positions being vacant. The reason is of course as IoT is booming and is disrupting several industries. Grabbing an IoT Certification right now shall open unimaginable career avenues for professionals who have been aiming for professional growth or a career jump. And with the existence of top IT training providers, it has become a convenient option for the working professionals to avail Corporate Training.