What is IoT and how can it help your business?

Vodafone Business has been pioneering IoT connectivity for over 30 years and launched its Managed IoT Connectivity platform in 2010. In that time, the ‘Internet of Things’ has evolved from an idea into a reality that is fundamentally changing how we work and live, as well as transforming the way businesses operate, companies manufacture and the way in which we access goods and services digitally. But what does it mean, how does it work and why is it so important?

What is IoT?

The Internet of Things, or IoT, is simply a term used to describe a network of remotely connected devices and sensors that collect, send and act on data they receive from the environment that measures what’s happening around them - transmitting data, receiving messages and taking action.

According to Transforma Insights, globally there were around 1.9 billion cellular-connected devices in December 2023, including everything from smart meters in our homes and wearable health monitors to smart machinery in factories and autonomous planes, cranes and boats. Transforma Insights predicts that by December 2033, there will be 7.5 billion devices connected by cellular.

How does it work?

All these devices collect data that is then transmitted for processing using wireless technology, including mobile networks.

Once gathered and processed, the data can then provide insights that lead to specific actions that enable businesses to deliver new services, optimise their operations and helps to reduce their carbon emissions. For example, a smart thermostat can adjust the temperature based on occupancy patterns in an office or an industrial machine can signal when it needs maintenance.

What are the benefits of IoT?

No matter what industry you’re in, IoT is critical in helping you optimise your business operations.

For manufacturers and transporters, it can help automate production, improve maintenance and staff safety, optimise supply chains, speed up delivery and manage resources more efficiently.

For farmers, it contributes to improving crop yields through the early detection of pests and diseases while cutting the use of harmful pesticides and fertilizer and preserving water through more targeted irrigation.

For energy and utility suppliers, smart meters and smart grids can help improve the efficiency and use of electricity and gas as well as conserve water by detecting leaks.

For those in the service sectors such as retailing, healthcare or financial services, IoT can play a big role in streamlining operations and anticipating demand, as well as creating new services, business models and revenue streams.

But whatever your business - how you implement, connect and manage your IoT systems is crucial to reaping the benefits of this transformative technology, and Vodafone Business IoT is here to help.