Why Ignoring IoT Technology Could Lead to A Competitive Disadvantage?
                     Why Ignoring IoT Technology Could Lead to A 
Competitive Disadvantage?
Satya K Vivek
Writes for Gadgeon IoT engineering services and 
IoT software development services from Gadgeon.
IoT applications across the globe have witnessed large-scale integration 
across all industry verticals. The demand for IoT Software and smart 
solutions is such, that the IoT market is likely to surpass $2.4 trillion by 
2027 annually. By this time, the world is likely to have over 41 billion 
connected devices. No one would deny the strategic benefits enterprises 
get from IoT powered smart solutions and applications. There are many 
ways with which the business gets streamlined by using IoT technologies 
like reduced operational costs, better and real-time insights into customer 
behaviour, and optimized resource utilization, to name a few. 
Why shouldn’t businesses overlook IoT technology?
As a business owner, you might be thinking of the potential disadvantages 
in case you ignore IoT technologies and solutions. Let’s discuss some of 
the potential drawbacks of overlooking IoT technologies.
Higher operating costs
While you might be wondering about the upfront cost you need to shell 
out to developing and deploying IoT powered solutions, however the 
mechanism will prove to be cost-effective in the long run. By having real-
time information, optimization of workflows become easier, resulting in 
reduced operational costs.
Smart devices can provide values of their operating parameters as well as 
their status. Using this data, multiple proactive steps like scheduling of 
preventive maintenance etc. can be scheduled. This way, you won’t be 
encountering system downtimes, which would eventually reduce cost of 
equipment maintenance and production loss from unscheduled 
stoppages. Hence overlooking IoT technology can result in loosing 
opportunity for operational cost reduction. 
Lower productivity and compromised safety
Connected devices using smart technologies facilitate easy monitoring, 
management, and tracking of overall production line productivity. So, lack 
of leveraging IoT technologies would result is average productivity and 
you miss out the opportunity to improve. 
IoT based solutions can significantly enhance the safety of your operating 
environment. With the regulatory compliances getting stringent, 
automated tracking and enhancement of safety of people and equipment 
is critical. Currently, many businesses and industrial units are deploying 
smart sensors backed by IoT. These sensors eventually leads to securing 
your staff from excessive physical stress and exposure to toxic 
environment. 
Missing opportunity to consistently deliver superior customer 
experience.
Leveraging of IoT Technologies enhances the data tracking in your 
organization.  Tracking and analysing consumer data is very much needed 
to ensure you deliver superior experience to your customers all the time.  
You need to have automated mechanisms to understand changes to 
critical customer data such as customer’s sentiment etc. This will enable 
your marketing department to take steps needed.
IoT technologies can fetch data on your products like its usage, customer 
preferences etc., allowing you to tweak its features and adopt appropriate 
marketing strategies etc. On the other hand, IoT solutions can also help 
you address problems that your customers are encountering quicker and 
accurately. By working on the personal data of customers, you can deliver 
an improved personalised experience to them. Without smart 
technologies, you may miss out the chances of developing a loyal 
customer base.
What’s the solution to developing smart IoT devices?
Now that you know why integrating IoT devices at your workplace 
matters, make sure to consult a reputed IoT software solution provider. 
Reputed IoT engineering companies can back you up with IoT and AI/ML 
based smart solutions to mitigate and manage various challenges in these 
digital era.
About Gadgeon
Gadgeon is known for its expertise in Industrial IoT and engineering 
excellence. We connect devices, operations, and processes to create 
business value, and revolutionize enterprises with the power of data. As 
an end-to-end technology services company, we successfully enabled the 
digital journey of customers with critical digital services ranging from 
embedded systems, cloud app development, mobile app development, 
data & analytics, application modernization, emerging technology based 
solutions, and testing & test automation across the industries such as 
connected factory, telecom & datacom, digital healthcare, CSPs, and 
home & building automation.
Thank you for time in reading this article!