Because market discussions on how companies use IoT technologies can be broad level and confusing, and because these technologies can be used in just about every nook and cranny of a business, we created four high-level categories of IoT business usage based on the aspects of a business that can be tracked.
Exhibit II-2: Four Core Business Areas for Applying IoT Technologies
- Across the world, the most frequent way that companies use IoT technologies to track customers is through mobile apps
- Sensors and other digital devices used in production lines and distribution operations are the second most frequent way IoT technologies are used
- About one-quarter have installed digital technologies such as sensors in their products to send data to their company on how those products are performing in the field
- A similar percentage have installed digital technologies such as sensors and digital cameras at the locations in which they do business with customers
- About one in seven companies tracks customers through wearable digital devices