Looking at our world today, you must have reflected on how much the connected world, the Internet of Things, has changed reality in the 20th and 21st centuries. The IoT has been debated constantly by financial experts, business experts, organizations, and even governments in recent years, as they try to analyze the opportunities and complexities this new world has generated.
The IoT has connected the world in ways never thought possible before, and it changes everything. Medical-monitoring systems and car sensors are just two examples of mainstream products that rely on the IoT to operate. The IoT is a great enabler in the electronics industry, opening the door to new innovations and capabilities each day. What we see out there today is only the beginning.
Semiconductor and electronics companies might benefit from the IoT’s expansion the most, with the Internet of Things serving as an important new source of revenue. The sooner companies start leveraging these new capabilities, the better.
The IoT has changed the reality for the electronics industry. By adding IoT connectivity, existing products can become intelligent and new products can do anything their creators dream of. Technology in formerly differentiated domains (e.g., consumer, computer, industrial, and automotive) is converging to address new challenges, particularly around new use models. Also, as electronic products are connected to the internet, they produce and consume an incredibly large amount of data. As a result, more devices need to be designed to produce and consume data automatically, independent of humans, all of which means that companies, engineers, and technologies must constantly change and adjust the way products are developed.
The more quickly companies can tackle the obstacles that rise from the challenges of the IoT, the bigger their potential revenue will be. Download our white paper to learn more about the challenges caused by the IoT, and the strategic initiatives you can take to overcome them. You can also check out this ‘checklist’ of things that you can do to increase the reliability of your products.
Thanks for reading!