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New report shows the state of IoT industry

A new report has been published that looks at the state of the IoT industry. 

The IoT industry is growing rapidly, with a projected potential impact of up to $11.1 trillion a year by 2025.

Conducted by Particle, the new report asked 800 professionals to weigh in on the economic growth opportunity and development challenges.

The top five industries which are expected to benefit from IoT technologies are technology, manufacturing, healthcare, energy and agriculture. Each of these industries is expected to reap over $1 million from the use of these new technologies.

IoT technologies are used for a range of purposes, however the most common are remote monitoring, preventative maintenance and asset tracking.

Preventative maintenance system can provide businesses with an ROI of up to 545%, whilst asset tracking systems can increase workforce utilisation by up to 40%.

Many businesses believe that implementing IoT technologies is different. These reasons include debugging unhealthy devices (55%), delivering software updates to edge devices (40%) and reducing bandwidth consumption (36%). 

Pinacl has a range of IoT technologies that can help local authorities and businesses streamline their services, covering smart places, connected environments, intelligent buildings and smart living.

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