As IoT outputs do deliver visible and tangible benefits, the momentum for IoT is building within SMBs. SMBs are beginning to use IoT for supply chain visibility, asset tracking, cost efficiencies and in general facilitating collaboration with employees, partners, suppliers, and customers.
The implications for SMBs here include adoption of devices and new ways of communicating with customers, such as location-based marketing with individualized promotions as customers and prospects walk around the mall or neighborhood. Other benefits will arise from new capabilities in tracking and managing assets on wireless networks, such as hospitals tagging all infusion pumps, having temperature sensors pinging from blood banks, and even tagging Alzheimer’s patients to prevent access to areas of the hospital that might be dangerous. There are also lots of inventory management, security and loss prevention opportunities through connected wireless devices. However, privacy and security concerns, data analytics and interoperability are percolating up to the center stage.