As spending on IoT rockets past $1 trillion in the next year, IoT tech promises better analytics and automation. Location-based services (LBS) will be critical to those improvements, as knowing where connected devices offer essential context. Cloud-based LBS makes integration seamless into current systems. Being able to tag key assets will massively boost automation optimization, analysts say. Real-time data gathering alerts a system to anomalies, maintenance issues, and more without the need for human input. The future of IoT has been bright for years. As peripheral tech like LBS develops, could IoT exceed the hype?
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