Making the Internet of Things (IoT) accessible, affordable, and easy to deploy is a great way to bring small businesses into the fold with this technology. With its Sprint (NYSE: S) IoT Factory, the company has developed an IoT platform businesses of any size can leverage to improve their organization or provide IoT enabled services.
Sprint has formed a partnership with myDevices and The Goldie Group to deliver comprehensive IoT solutions. The ready-made boxed units are available in a wide selection of monitoring options across several industries, and with more on the way.
This new IoT approach by Sprint is going to give small business owners access to an industry slated to grow to trillions of dollars in the next 7 to 10 years. According to the McKinsey Global Institute, potential IoT economic impact could range from $3.9 trillion to $11.1 trillion a year by 2025. There is no reason small businesses should miss on this this enormous opportunity.
Ivo Rook, senior vice president for IoT at Sprint, pointed out the importance of harnessing this technology for small businesses owners in a press release. Rook said, “We’re excited about the effect this has on small and medium sized businesses. They can now attain the latest in advanced and secure technology at reasonable costs – with the ease of being able to buy a complete solution from the digital store, having it shipped quickly and installing it themselves within a matter of minutes. That truly drives business forward in an unprecedented manner.”
What is the Internet of Things?
IoT or the Internet of Things is an ecosystem of connected devices with unique identifiers and the ability to transfer data over a network. The devices in the Internet of Things could include a thermostat, vehicle, refrigerator, pacemaker and almost anything else for that matter.
If it can be assigned an IP address, it can be part of the IoT ecosystem. And with the full integration of IPv6 and 5G, there could literally be trillions of devices with their own IP address monitoring everything soon.
How Many Devices are Going to be Connected?
The number is always growing, but it is in the tens of billions of devices. Statista has forecast the number of IoT devices is set to reach 31 billion by 2020 and will go to over 75.4 billion devices by 2025.
The Sprint IoT Factory
In as few as two days, the Sprint Iot Factory will deliver your ready-made package so you can deploy your device without IT or technical expertise. Some of the devices you can get right now include refrigerator temperature monitoring, energy management tools, property monitoring, rodent monitoring and more.
Small business owners running restaurants, grocery stores, rental properties and other businesses can introduce new levels of efficiency with these devices.
Rook added, “From family-owned restaurants, medical companies to heavy equipment fleet operators and everything in between, the Sprint IoT Factory is giving business owners the power to easily enhance operations — using IoT technology to track assets and connect what’s most important to them.”
IoT Business Opportunity
In addition to using the Sprint IoT Factory devices to improve the operations of your business, you can also start providing IoT related services.
Start designing, prototyping and commercializing IoT solutions with myDevices Cayenne with your own branded Box Solutions. This will give you a business opportunity in an industry worth trillions of dollars.
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