Why Care About IoT?

When it comes to daily conveniences, IoT is at the forefront of your absolute favourites. Whether you are working in tech or not, IoT is something we all care about even more than we may realize.

Consider this year’s gift list:

  • How many loved ones requested the latest Google home or Alexa device?
  • A wearable watch or a car starter?
  • Smart thermostats, home security, and intuitive appliances fall into the category of Internet of Things.

Your home automations, car key fobs, smart locks, homes, watches, and more… IoT connects us all through our objects, spaces, and places. But IoT is so much more than even that!

Traffic light solutions that improve flow of vehicles, crime rates, city parking, green initiatives, and so much more all depend on the success of IoT to bring it all to life.

Geographically, North America is expected to continue experiencing IoT growth with the adoption of connected cars, smart energy projects, automation, and a focus on smart manufacturing. So beyond the obvious reasons to care about the progress of IoT, here are a few other reasons that you should care.

Go where the growth is:

In the recent 2021 Alberta Technology Deal Flow Study by Alberta Enterprise they identified 3000+ technology firms in Alberta which is a 233% increase from 2012. In their study they identified 38% were generating over 1 million in revenue, and 43% had raised over $1 million USD.

These numbers tell us that Alberta is making a major comeback! Making the decision to settle down in a province on the rise is not too bad of a plan. Alberta IoT is actively recruiting tech elites to our programs.

Investment opportunities:

With the above knowledge, it only makes sense to invest in an industry that is taking huge strides in the market. Companies such as InvestorPlace are making stock recommendations in IoT and we’re not surprised. That’s why Alberta IoT continuously invests in Alberta businesses looking to make major strides in their industry.

In demand job market:

Job creation and opportunity are strong indicators of current and future growth of the Alberta technology sector, as is the diversity with which the market serves. As highlighted below, the IoT market in Alberta is serving many sectors.

According to Mordor Intelligence,  IoT is a focal area for development, production, and management of supply and logistics. Shifts in manufacturing are being driven by the adoption of IoT to advance production.

Customer experience improvement:

Beyond production, manufacturing and supply chain, IoT is experiencing retail sector growth, particularly with the rise of e-commerce. Operational efficiency and enhanced customer experiences in the sector are attributable to the rise of IoT solutions in the sector. This means you can expect improved shopping experiences in an endless variety of industries.

When you consider the dynamic role IoT plays in our life, it’s no wonder organizations like Alberta IoT are making waves. From The Centre of Excellence to the Fast Track program, Alberta IoT is prepared to be not only a trend-setter in IoT, but also a hub for those looking to shake up the industry.

The IoT industry is a trillion-dollar industry globally and Alberta IoT’s goal is to dynamically support the growth of Alberta based firms to capture 1-2 % of this market. Connect with us to learn more about how Alberta IoT is supporting tech, IoT, and small business in Alberta!