This Tech Trend Will Transform Every Industry
Grocery shopping is dangerous business.
Ever stop in quickly for one thing and walk out 30 minutes later carrying six bags? Or try to go in for a couple things while you were hungry?
Both my husband and I are notorious for this. Even when we’re doing our weekly run with a shopping list, we wander the aisles, wondering if we’re low and need to restock. That might be why we now have two untouched tubs of butter in our fridge and are still completely out of cheese.
We’re not efficient in our shopping, and it’s creating wasteful spending.
It’s got me considering a new fridge that is connected to the Internet so that I can keep a more accurate tally on our inventory. It might cost a little more upfront, but the savings down the road will more than make up for that cost.
And my household isn’t the only one considering new ways to become more efficient. This is a movement that is hitting more households and industries every day. It’s creating amazing opportunities for profits…
The Next Revolution Will Be Massive
Robots are going to take our jobs!
It’s a refrain we’ve heard on nearly every news site for a few years now. I’ve even warned of how the influx of robots is going to substantially change the job market in the future. But there is a technology that is available right now that is going to revolutionize every industry. Nothing will be left untouched.
It’s the Internet of Things (IoT).
While the name might be a little confusing, it is simply the connecting of things such as machines, appliances, packages and even animals to the Internet so that data can be collected, studied and used to find ways to operate more safely, cheaply and efficiently.
The scope and reach of the IoT cannot be overestimated. Gartner, a technology research firm, reports that an estimated 20.4 billion Internet-connected things will be in use by 2020.
And that’s just the beginning…
All Industries Will Change
The main focus of the IoT revolution will be with businesses. Companies will be adding sensors to machinery, shop floors and more to study the efficiency of both machines and workers. They will be able to improve cost savings, time management and safety.
Gartner reports that 57% of IoT spending will come from businesses, while McKinsey, a management consulting firm, finds that there will be $3.7 trillion per year in potential value of IoT-related productivity and efficiency improvements in factories.
The IoT will help a company’s bottom line. If you can make things cheaply and quickly, then your margins improve and you’re more competitive in the market. If your machines last longer and are on an improved maintenance schedule, you’re saving money. If your workers are safer and working more efficiently, they are happier and more productive.
But it’s not just the factories with their massive machines that are taking advantage of the IoT revolution.
Farms are using IoT technology to improve crop yields and to track their stock.
Retailers are using IoT technology to improve inventory management and package tracking.
Health care is using the IoT in the form of wearable devices and machines to collect and analyze massive amounts of data.
Every industry stands to improve with the implementation of IoT tech.
Billions in New Revenue
Of course, it’s not just the companies implementing the IoT solutions that stand to benefit. The management consulting firm Bain reports that vendors selling IoT hardware, software and related services will earn an estimated $470 billion in total annual revenue.
These are the companies creating the software that allows machines to talk to each other. These are the companies making the sensors that report back data on how a machine or device is operating.
As an investor, you will have ample opportunities to profit from how the IoT will revolutionize all industries. Whether it’s the retailer that has cut costs and lifted profits through more efficient inventory management, or the manufacturing company that has improved the efficiency of its machines, or the software company that has developed the software that makes all that possible, you can make massive profits regardless.
In fact, these are exactly the opportunities that Paul Mampilly is looking for when it comes to his Profits Unlimited newsletter to provide his readers with triple-digit gains.
Sr. Managing Editor, Sovereign Investor Daily
P.S. Another tech trend that Paul Mampilly focuses on is the energy revolution underway in the U.S. In fact, experts at the Department of Energy say that a remarkable new technology could provide America with a “30,000-year energy supply.” But what’s even more incredible is the opportunity this presents for early investors. To watch Paul’s video with all the details, click here now.