Internet of Things (IoT)

The IoT describes physical objects that are embedded with sensors, software and other technologies, and that connect and exchange data with other devices and systems over the Internet or via other communications networks. The result is the merging of the physical and digital worlds with the possibility of creating new products and services (e.g., smart mobility). 

Numerous IoT applications have already existed for several years. Nevertheless, manufacturing companies are finding it difficult to tap the potential of the IoT. The “digitalization paradox” describes the worldwide phenomenon according to which the high investments made in connectivity do not generate the expected revenues. However, be it for highly automated vehicles, smart houses, medical fitness trackers or connected production systems, the disruptive power of the IoT will fundamentally change the business logic of many sectors.