The Internet of Things (IoT) describes all of the physical items or devices that aren't typically computing devices but are connected to the internet to send and receive data. Smart home devices like internet-connected cameras and door locks often come to mind, but IoT devices exist in almost every industry. For example, they're transforming the construction industry with connected compressors, power tools, noise sensors and safety harnesses.
When these physical objects are equipped with sensors and connected to the internet, they can capture critical data in the field and promptly transfer it to software to help companies make business decisions and improve processes.
For construction, today's IoT technologies represent a more viable venture than ever, with lower costs and higher levels of reliability. While many sectors have reaped productivity gains from digital transformation, the construction industry has been slower to adapt. Construction's inherent complexity presents additional challenges, but with IoT, many problems can be overcome. Despite growing cost pressures, companies adopting these measures may gain a competitive advantage.