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28 Dec

How the Internet of Things Will Impact Businesses

Folio1 Startup News

The Internet of Things has been one of the most significant movements in the world over the past decade. Over that time period, more and more consumer and commercial products have become connected, which has opened up the potential for users to share more data than ever before. While the Internet of Things trend is bound to continue to impact consumers in the future, it will also impact businesses. Businesses and organizations will likely change a number of different ways in coming years due to the Internet of Things.

 

More Data will be Shared

One way that businesses will change in the coming years is that more and more data will be shared. Today, only about half of all businesses that are able to collect data from smart products actually share and commercialize it. This number will likely increase rapidly in the coming years as more companies see the benefits that come with sharing data. 

 

More Smart Products

Another expectations is that businesses will release far more smart products. Overall, the amount of connected products is expected to increase considerably in the next few years. In the near future most consumers will have several smart products and appliances in their homes. 

 

Security Concerns

Along with the increased usage of connected products, the risk of hacks and data theft will continue to rise. To compensate, businesses will be required to invest heavily in information security to keep their data safe. 

 

If you are interested in how the Internet of Things will impact businesses, contact us to learn more. 

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