Enterprises adopt IoT solutions for two primary reasons. First, they want to lower their companies’ operating and capital costs. These types of IoT solutions including factory automation, remote asset monitoring, fleet management, and smart metering help enterprises improve their bottom lines by focusing on all sorts of cost reduction.
Second, enterprises want to add IoT to the products they sell to their customers. This allows enterprises to bundle new connectivity-based services with their core products, thereby increasing revenue and differentiating their offerings. Examples of these types of IoT solutions include in-vehicle infotainment, connected welding equipment, connected commercial-grade power tools, and many more.