There are many Internet of Things (IoT) business ideas that you can use for your existing business, or for starting a startup. Let s consider 5 most promising and innovative business ideas for 2020.
1. Health and Fitness
Fitness trackers and wearables are not brand new devices. We may even think that they are connected to the Internet as they can communicate with our smartphones.
But the right IoT bracelet can do much more. The most obvious advantage of these devices is the ability to transmit your heart rate data to doctors in case of emergency. How about smart devices that transmit your workout information to your smartphone (you may need a fitness app for that)? Or calculate what kind of food you need to eat?
These devices then sync with your smart refrigerator and the refrigerator sends out-of-stock information.
When it comes to healthcare, the application possibilities are even wider. If more modern devices arrive at the hospital, they can shorten the average time a patient spends in a visit. Straight from making an appointment (which can be done using a smartphone) to receiving treatment and discharge from the hospital.
2. Industrial Internet of Things: smart cities
Every device and aspect of city life can be upgraded and enhanced with IoT capabilities. Smart shops and traffic lights, level crossings and sensors that listen to city sounds and classify them by volume. They can even detect shots and transmit this data to the nearest police station.
Here are three examples of how the Internet of Things can change our cities for the better:
– Improvement of public transport
Public transport does not work if roads are closed due to bad weather or breakdowns. What the IoT has to offer here is to provide public transport authorities with real-time information. This information will help them implement their contingency plans in a timely manner.
The IoT will provide every city dweller with access to reliable, efficient and safe transportation. This can be done simply by using information from cameras at bus stops or other public places.
– Water supply control
The potential of the IoT is enough to change the way cities consume water. The technology can help detect water leaks with smart meters. In turn, this will prevent loss of income and increase productivity. In addition, these devices can assist consumers in providing real-time access to information on water supply and consumption.
– Create progressive, smart cars
Cars have evolved over the years: Today, most car manufacturers offer advanced connectivity features such as remote controls, satellite maps, car media, internet access, and so on. The future of cars looks even better thanks to advanced IoT technologies.
IoT technologies make it possible to create cars that are smart enough to connect and communicate with their environment. But for that, we need smart infrastructure – smart cities – to interact with these “brains on wheels.”
3. Smart toys (IoT)
If we make smart cars, why can t we make smart toys? It s a great idea to use the IoT to create interactive toys for kids and adults.
And that seems to be exactly what the creators of Toymail came up with. Today the Talkies company makes toys that consist of a plush skin and removable equipment that allows you to conduct voice chat. All parents need to do is buy a toy and install the application on their smartphones. And of course, give their child a new dinosaur, shark or unicorn.
Parents use the app to send messages to their children and receive responses. It s a great way to be with your kids, even when you re at work.
Another good idea is to make toys with sensors inside. For example, it would be much easier to measure a baby s temperature with a toy thermometer than with a conventional device.
4. IoT for territory monitoring
Smart devices do a lot in agriculture. They can measure soil moisture and monitor water flow, or track how ripe the fruits and vegetables are and inform the farmer about when to harvest. Such smart approaches can reduce costs, improve forecasting, planning and harvesting.
Another use case is forest fires. Devices such as infrared cameras and air filters can save our forests in summer. They are already in use in countries where the problem of summer forest fires is well known.
5. Household appliances
Household appliances and the Internet of things. It s such a broad concept that you can use anything that works and brings comfort to people: smart homes, offices, entertainment, and more.
Think about how you can make the lives of those around you easier. Would you make a Bluetooth tracker to help them find keys, gadgets (or dogs, if you like)? Or a smart refrigerator that writes a grocery list while checking which foods you run out of food? Or mood trackers that play your favorite music when you re upset?
The Internet of Things gives every routine task a fresh coat of paint, making it ten times more enjoyable. The IoT has been one of the leading technology trends for years and will be even better in the next couple. Business owners, suppliers and manufacturers are helping this technology evolve by creating powerful new business solutions and focusing on results.