Latest Research Report on Iot in banking and financial services Market 2020-2027 Is Booming Worldwide with Comprehensive Study Explores Huge Revenue Scope in Future with Top Key Players Like Hewlett Packard Enterprise Development LP, IBM, Infosys Limited, Microsoft, Oracle – 3w Market News Reports
In today’s connected world, IoT has emerged as the most ubiquitous and advanced technological innovation of the century. According to a report published by Cisco, there will be 50 billion connected devices by 2020. With this progression in digitally connected devices, industrial sectors such as manufacturing, telecom, IT, energy and utility, healthcare, logistics, BFSI, media and entertainment, aerospace and defense, and government are expected to witness an upsurge in digital services. Within the BFSI sector, IoT is expected to have an enormous impact on all aspects, right from banking and insurance to financial planning and health and fitness. IoT enables financial institutions to track customers’ activities, life events, and needs with the help of the data generated by sensors. Moreover, IoT enables financial organizations to deliver usage-based differentiated offerings, such as Usage-Based Insurance (UBI), and influence the financial decision-making of individuals.