For those not already familiar, according to Gartner the Internet of Things (IoT) is “the network of physical objects that contain embedded technology to communicate and sense or interact with their internal states or the external environment.” If you’re like most of the small business owners or managed services providers out there, you’re likely still trying to wrap your head around the hype and figure out what this actually means for your business.
Everyday devices are getting smarter and businesses must follow suit. Businesses are already beginning to embrace the trend and that means someone needs to be there to manage it. According to Gartner, the Internet of Things market will top $309 billion in direct revenue by 2020, with most of that money stemming from services.
Internet connected devices will soon provide small businesses with information to help them cut costs, improve efficiency and reveal usage patterns, leading to increased profitability, productivity and customer satisfaction. Our own Internet of Things study revealed 47 percent of U.S. small businesses expect to adopt smart devices and the IoT within the next two years, rising to 67 percent in two to three years’ time.
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