Until recently, advanced IoT solutions were only reserved for large companies with substantial budgets. However, with technological innovations taking hold, startups and SMEs have started taking advantage of the IoT technology. Whether healthcare or agriculture, IT services or logistics or even automobiles, IoT is breathing new life into industries that have long remained slow and dependent on redundant technologies.
For instance, in manufacturing, supervisors, and managers find out about machines and equipment failures only after the goods have been produced. But IoT can offer them the ability to monitor production and assembly lines in real-time, and modifications and adaptations can be made immediately to ensure there is no adverse effect on stocks, costs, or profits. The large scale adoption of connected devices is not always neatly patched up like computer and mobile operating systems mainly because of fears of downtime—the issue IIoT is trying to bring to a minimal. This has given rise to startups focusing on innovative security solutions for industrial networks.
When it comes to healthcare, IoT technology helps keeps patients better connected to doctors via remote monitoring and virtual visits, enables hospitals to track staff and patients, automates patient care workflow, as well as, reduces inefficiency and errors. IoT devices also optimize the pharmaceutical manufacturing process, which can result in lower drug prices, maintain quality control, and manage sensitive items while in transit and, ultimately, lower healthcare costs by streamlining the overall process.
At this juncture, there is a wide variety of IoT startups across every industry with advanced and integrated offerings. To help companies navigate through the best-of-breed IoT solution providers, StartupCity has compiled a list of leading IoT startups that are revolutionizing the business ecosystem at the convergence of several disruptive technologies. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for the aspiring CIOs.
We present to you StartupCity’s, “10 Most Promising IoT Startups – 2020.”