Global IoT (Internet of Things) Market Forecast Expected to Top 2.4 Trillion by 2029 as Asset Tracking Solutions become a necessity.

Published April 20, 2022

How Apptricity Corporation serves these IoT verticals, including Retail, Healthcare, Energy, Local , State Govt & Education, Hospitals,  Construction, Manufacturing and Transportation.

Internet of Things graphic showing a jump in market size from 478 billion to 2.46 trillion US dollars between 2022 and 2029.
Global IoT (Internet of Things) Market Forecast Expected to Top 2.4 Trillion by 2029 as Asset Tracking Solutions become a necessity.

Are you on top of the latest supply chain technology?

Organizational and industrial usage leads the charge as world-shrinking connectivity allows 360-degree, real-time access and management to assets, equipment, inventory, and supply chain materials.

Appriticity is a leader in the IoT supply chain market as it readies for explosive growth.

We are leading change as technology, real-time data and intelligence prove a crucial value.

The landscape holds the architecture within a framework of Device < > Edge < > Cloud computing. Organizational and Industrial usage of IOT are two areas that are making the most of their efforts to increase ROI by creating time and resource efficiencies via the internet of things. )

Fortune Business Insights reveals the world IoT market is projected to grow from $478.36 billion USD in 2022 to $2,465.26 billion (2.4 trillion) USD by 2029. A forecasted CAGR of 26.4% has garnered the attention of supply chain experts and manufacturing and distribution c-suites across the globe.

Apptricity serves IoT verticals, including Healthcare, Energy, Local Govt & Education, EMS, Hospitals,  Construction, and Transportation.

How is IoT changing these verticals?

  • Healthcare: Healthcare utilizes IoT to save lives, time, and spending. It is widely known that nurses spend about an hour of their shift per day looking for lost or missing equipment. Healthcare institutions are implementing tracking systems to identify and locate equipment in real-time.
  • Construction: Manage and identify different worksites, equipment, and tools while preventing real-time theft and loss with gps-tracking assets. Scholars are using IoT vibration monitors to ensure the integrity of the surface and depth while curing fresh concrete.
  • Transportation: Supply chains and fleet management go together. All fleets of vehicles, single trailers, and every piece of inventory inside are tracked and reported with 360-degree transparency and total accountability us GPS tracking devices.

How is industrial IoT applications climbing the ranks of necessity in manufacturing, ecological, agricultural, Energy, and utility sectors?

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This is how:

  • Manufacturing: Apptricity’s inventory management and supply chain solutions track goods with amazing detail and precision. Custom alerts detail service needs which improves life expectancy for frequently serviced manufacturing parts and machines.
  • Ecological/Agricultural: Apptricity’s IoT devices can house data from sensors that detect nutrients or changes to soil moisture. Additionally, some sensors can detect data, including water levels, wind direction, speed, location, etc. Drones have the ability to fertilize focused areas that are remote or treat small areas with pesticides.
  • Energy / Oil & Gas: Autonomous drones with local IoT sensors can detect pipeline issues by thermal imaging along with route details and report them for repair. Remote areas and tough terrain make identifying repair need far more efficient with a targeted repair plan and location.
  • Utilities: IoT sensors have wide capabilities So does Apptricity. We can detect dangerous situations from surging electricity, water flow rate, and wind velocity all can be lifesaving information. Sensors will have the ability to sense where heavy pollutants or chemicals are released into a given environment. The possibilities are truly endless.

Other business sectors adopting IoT solutions include:

  • BFSI (Banking Finance Services Insurance):  Blockchain secured IoT
  • Retail: Inventory tracking solutions
  • Government: 360-degree accountability and asset tracking solutions
  • Sustainable Energy: safety, efficiency, ecological benefit
  • Telecom and IT: 5G LTE, Satellite Comms, Bluetooth, etc.
  • Education: Asset tracking solutions

Apprticity has a well-designed IoT operational plan that takes collected raw data and processes or analyzes it into real business insights that can be extracted to form real-time action plans.

The organizational and Industrial IoT segments are great examples of how crucial data-centered technology is to community safety, time, and financial efficiency.

 When you’re looking for an “under one roof” partner, check out the Apptricity team. The team is all about hardware, software, and the highest caliber service! If the management of your assets efforts require immediate access to immediate insights for immediate action, just stop by our website to look around or schedule a demo here.

Call Apptricity for a free assessment. Find out how you can account for your assets and your data.

Tim Garcia will be a presenter at RFid Journal LIVE! Conference and Exhibition at Mandalay Bay in Las Vegas on May 18th. Come visit us at Exhibition Booth #624.

Tim Garcia brings over 36 years of enterprise software management and sales and development experience to his clients and partners. There is a reason why the Apptricity growing client partners include AT&T, Verizon, Sprint, Nestle, and the US Army and US Air Force.

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