Blog: Why should companies start embracing smart machine technology now?

Asking why you should embrace smart machine technology now is like going back five or so years and asking whether it really makes sense to get a smart phone. Like most industry observers, at Evalan we are convinced reality will soon overtake whatever hesitations there may be about the reshaping of industry by IoT. Companies that have started out on this path confirm this. So one reason to introduce smart technology is that it has done what it claimed it would do for organisations: reduce cost, improve efficiency, increase control, raise profits, raise customer satisfaction and create opportunities for new and more sustainable business models.

Answer to economic crisis

Looking at the  IoT growth expectations, IoT could be the answer to the economic crisis as expectations regarding the growth and the economic and technological impact of IoT solutions, smart factories and smart machines are high. Estimates as to IoT market growth in the coming years vary widely, but are all impressive. Leading research and consultancy company Gartner, Inc. has forecasted that 8.4 billion connected things would be in use worldwide in 2017, up 31 percent from 2016, and that the number will reach a staggering 20.4 billion by 2020.

Efficiency and energy efficiency are becoming central values

The second reason to embrace IoT is that from the many reports being published on IoT, one clear and indisputable fact emerges: IoT is unavoidable, sweeping and will bring huge changes to consumers, cities, retailers, industries and society as a whole. Even if you are not a tech company, IoT devices are going to impact how you do business.

IoT can help you adapt to changing markets

A third reason is the major role smart machines and IoT solutions can play in today’s energy challenges. Efficiency and energy efficiency are becoming central values. And as we grapple with depletion of natural resources, growing populations and growing economic demands, efficiency – and especially energy efficiency – is becoming vital to business. Experts expect global demand for energy to have doubled by 2050. For industries, cost reduction, resource management and energy efficiency are essential disciplines. Smart machines and IoT solutions can play a major role in this development.

If these reasons seem plausible to you and you would like to discover how your company can benefit from IoT, we offer a White Paper with much more information. Or you can contact us direct.