“One of the main values that IoT offers is the real-time access and processing of data,” Whitaker says. “You can utilise the feedback you receive instantly, from the devices themselves. A quick response can save on costs and prevent a problem from escalating into an expensive disaster.”

IoT benefits both the top and bottom lines. “The bottom line is the cost savings and reductions in downtime for manufacturing thanks to predictive maintenance. The top line is the new business opportunity, with new revenue streams that IoT can open up,” Mandonga says. “IoT offers huge potential for growth, allowing you to expand your offering, and personalise it for your customers in the most cost-effective way.”