Fun fact. The Portobello mushroom, a popular meat substitute, was originally considered an inedible byproduct crop and thrown away. Then in the 1980s, American farmers launched a marketing campaign touting the fungus as a hamburger substitute. Today, the mushroom is one of the biggest selling fungi varieties in the world, with annual sales in the billions.
Google made more than $89 billion dollars in revenue in 2016, Amazon $136 billion. These companies (and others) revolutionized their industries by taking an existing platform (the web) and maximizing its marketing potential. Such fantastic opportunities exist again thanks to IoT. Now you can take a basic IoT infrastructure and maximize its value via up-selling and cross-selling to consumers. Much like web technologies, IoT-driven marketing treats each user as unique and delivers a personalized experience that both increases sales and enhances loyalty over the long term.
Internet of Things development is making great strides, but there are still problems IoT software developers must face before mass adoption of the technology – similar to smartphones and the Internet – occurs. IoT developers are facing the same integration issues web and mobile developers had to solve years ago: security, data, compatibility, and other technology concerns. IoT is the future of data collection and categorization, but these challenges must be kept in mind and anticipated for IoT to develop into a technology that impacts the entire world.