The Global IoT Market Is Expected To Grow To $6.5 Trillion By 2024

The Global IoT Market Is Expected To Grow To $6.5 Trillion By 2024

Internet of Things (IoT) technology isn’t just for a smart fridge or a smart speaker in the home: It also has applications for retailers. Swift Sensors, for example, developed a sensor network that monitors variables such as temperature and humidity for restaurant settings. Deployed in a restaurant setting, it has applications in walk-in coolers, freezers, prep lines and ovens. The owner sets the high- or low-temperature threshold and receives a notification by email, text message or phone call any time conditions exceed it.

“With the ubiquity of smartphones, people expect to have access to data and be notified on these devices,” said Ray Almgren, chief marketing officer at Swift Sensors. Consumer products like FitbitSquare and Nest all use similar wireless IoT technology to inform users in real time, and many people have come to expect that sort of ease and immediacy.

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