IoT: 3 ways small businesses can leverage it for its benefit

The rise of the Internet of Things (IoT) has been rapid. Worldwide, the number of IoT-connected devices is expected to reach 43 billion by 2023 – a full threefold increase from 2018 according to McKinsey, which will amount to a market forecast to surpass US$176 billion by 2022. IoT devices represent the physical manifestation of the digital transformation taking place around us. Use cases are vast – hardly any industry is exempt from its benefits. In the utility sector, for example, sensors in water pipes could feedback maintenance data to programs that predict when fractures are likely to occur.