IoT, or Internet of Things, is the culmination of multiple technologies that started back in the 1970’s. There were many companies that contributed in IoT technology, from companies in computer technologies, Internet, satellites, and advanced chip technologies that make all of these connectivity’s possible.
For any business looking to grow and make advancements, there are many open possibilities; for example, R&D can bring new products and new revenue streams, but that is always a cost barrier. When businesses invest in a new technology, they plan to have an ROI (Return of Investment) in a short period of time, otherwise they may face financial challenges. Therefore, large R&D projects which bring breakthrough technologies and products are avoided by small and mid-size companies, only because of the necessity of large capital investment.
Therefore, these businesses are missing out on some opportunities that only very large corporations with unlimited funds can pursue. But what is nice about IoT is the fact that most of the technology is already developed and available, so with minimal investment a business can attain significant achievements.
Continue reading: https://themarketingfolks.com/iot-technology-or-opportunity/
For any business looking to grow and make advancements, there are many open possibilities; for example, R&D can bring new products and new revenue streams, but that is always a cost barrier. When businesses invest in a new technology, they plan to have an ROI (Return of Investment) in a short period of time, otherwise they may face financial challenges. Therefore, large R&D projects which bring breakthrough technologies and products are avoided by small and mid-size companies, only because of the necessity of large capital investment.
Therefore, these businesses are missing out on some opportunities that only very large corporations with unlimited funds can pursue. But what is nice about IoT is the fact that most of the technology is already developed and available, so with minimal investment a business can attain significant achievements.
Continue reading: https://themarketingfolks.com/iot-technology-or-opportunity/
