The Internet of things (IoT) is a concept has the capability to impact our lives. There are a lot of challenges around the IoT.
Today, IoT is estimated to generate up to of $19 trillion. The IoT network comprises the workplace and everything outside of it. In many organizations, information is routed through familiar routes. Owned information is registered in databases and analyzed in reports. Information is also collected from public sources and gathered from the Internet. Marketers talk about the boosted user experience delivered by the IoT and businesses talk about the financial impact of it.
With its varied applications, IoT is seen cutting across nearly every industry. However, life science stands out as one of the most synergistic sectors. Medical device companies are responsible for bringing in some of the early commercial successes in IoT. There are products like smart baby monitors, micro-chip enabled prescription bottles, trigger prescription refills; a wearable biometric sensor transmits etc. Many of these applications have already been approved by the FDA.
Life Sciences experts mention that prioritizations within IoT spending shall remain consistent in the short to medium term. Life Sciences industry carries the potential to influence revenues and improve the quality of patientsí lives. The decision on the part of life sciences firms to assign the most share of their IoT budget to customer monitoring will continue to advance these valuable gains.
We at Pegasus InfoCorp, think this is just the beginning of IoT innovation within life sciences. The future is filled with opportunities. There are infinite concepts that can be discovered and innumerable ideas that can be implemented. Healthcare is one area where more data has the potential to save lives, by preventing disease, monitoring it and by analyzing it to create new treatments.