There has been a significant increase in the number of connected devices globally. With this, there has been a parallel growth in the Internet of Things (IoT) product development as customers and brands have started recognizing the benefit of the connected ecosystem. Companies have started connecting sensors, real physical machines and products to internet.
Ubiquitous networks, smart sensors, multi-channel analytics and marketing automation are some of the driving forces behind the growth and adoption of IoT. Some of the major benefits of adopting IoT include sensor driven decision making, real-time analytics for personalizing experiences, optimized resource consumption, instantaneous control, operating efficiency and reduced asset lifecycle costs.