IoT in Construction Trends
Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your construction bonding needs. What is the Internet of Things? Oracle defines the Internet of Things (IoT) “the network of physical objects—“things”—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet.” These devices can be anything from household appliances to sophisticated manufacturing systems. The number of connected IoT devices is expected to reach 22 billion by 2025. The IoT is made possible by low-cost computing, cloud storage, data analytics, and mobile technologies–which allow physical things to collect and exchange data without intervention by humans. The IoT exists at the intersection of the physical world and the digital world and is becoming increasingly helpful in construction for budgeting and resource management, among other things. How Does the IoT in Construction Apply? IoT technology holds great potential for increasing efficiency, productivity, and safety in the construction industry, largely because it allows construction firms to respond quickly to changing requirements. There...
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