The internet of things describes physical objects with technologies that connect and exchange data over networks, best known to consumers through smart home products, though its largest applications are in business and industry. The lessons answer how IoT reshapes industry and society, helping readers understand its effects across connected systems and everyday life.
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IoT can support industrial asset management through predictive maintenance, statistical evaluation, and measurements to maximize reliability. In the internet of things deployment described, the city of 180,000 inhabitants has seen 18,000 downloads of its smartphone app. Connected to 10,000 sensors, the app enables parking search and environmental monitoring. A 2015 Goldman Sachs report indicated that healthcare IoT devices "can save the United States more than $300 billion in annual healthcare expenditures by increasing revenue and decreasing cost."
EU enterprises with 10 or more employees had 29% uptake of internet-connected devices in 2021, compared with 70.9% of EU individuals aged 16-74 in 2024, according to separate Eurostat surveys. The different populations and three-year gap mean the figures are not directly comparable.
In many parts of the world, connected electronic devices already help park rangers track poachers, monitor water levels at communal water pumps, and gather data about endangered wildlife. For British National Parks, wireless environmental sensors could eventually inform park personnel about trail conditions or how trees and plants respond to climate change.
The Fourth Industrial Revolution by Klaus Schwab describes technologies fusing the physical, digital and biological worlds and outlines the key technologies driving this revolution and their impacts on government, business, civil society and individuals.
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