The Internet of Things in Malaysia Gives a Lot of Opportunities for Businesses to Start
Malaysia is fully capable of becoming a forerunner in the region when it comes to the Internet of Things (IOT) in Malaysia sector. The plans and techniques are being made in the country to reach that goal. In the past couple of years, the technological companies have come up with more devices that have the capability to use the internet. These include watches, cameras, televisions, cars, and others.
Based on a report, the expected number of connected devices by 2020 is 20 billion. This is the reason why the Internet of Things in Malaysia should be taken advantage of to register business in Malaysia.
The IoT offers more secure cars to customers. Auto companies can make IoT solutions so that if a stranger attempt to open the car, they will receive an alert to inform them. There could be smart sensors placed inside cars that sense instant alerts.
In addition, you could contribute to ending drunk driving and make roads safer for people. By the use of chemical-sensing sensors, it is able to measure the alcohol content in the breath of the driver.
Start an Online Marketplace
Examples of online marketplaces are Lazada, Shopee, and 11street have become popular to people who prefer to shop from their own home. Basically, online marketplaces are websites where sellers can upload their products to reach a wider market. The biggest advantage for sellers is they are not required to set-up an e-commerce store or their own payment gateway.
All it takes is uploading products and just wait for buyers to look for products. Then on when they purchase them through the online marketplace. The sellers on these online marketplaces get a profit just like an e-commerce store that sells physical products, except that they have to pay commission to your online marketplace.
The commission is paid every time they sell a product. In this case, a common source of income for an online marketplace owner is the commissions from sellers.
Get into the Retail Industry
Your products can have sensors to keep customers better informed. By doing this, you are ensuring that customers are able to gather more information about products on TV screens nearby. When customers have enough useful information, there is a bigger chance for them to buy a product.
Make sure that your kiosks always have stocks. This means that a smart vending machine with sensors is able to monitor how much stocks are left in the machine. When you know about your stocks being close to empty, you will make sure that there is always a supply of products. You will not miss a sale ever again.
You can sell this kind of vending machine for those who want to get into this business.
Sensors are also useful in food kiosks, because they can help monitor food temperature. If the temperature reaches below threshold, or more than the amount of time, managers will get an alert so it will prevent them from serving spoiled food.
Put up a Deal Site
Deal Sites are good for finding discounts on products, travel and food. Since they expect to find a good deal on anything they purchase, majority of the people who visit these sites are ready to buy anything that appeals to them. This is what gives deal sites an advantage when it comes to changing visitors into customers.
Most of the time, deal sites are not the ones that carry the products sold there. They are a middle person that connects buyers to the sellers who want to offer discounts to attract customers. When the buyer makes a purchase, deal sites have a cute from the sales and this is how they earn.
Online Dropshipping Business
Dropshipping is a method that fulfills a branch in retail where the stores do not keep their products in stock. When a store is able to sell a product, the item is purchased from a 3rd party and then it gets shipped to the customer directly.
Therefore, the merchant will never see or handle the product they are selling. The difference of dropshipping from the typical retail model is the merchant does not have any stock or own an inventory. What they do instead is to purchase the inventory when it is needed from a 3rd party supplier after they have received the payment.
The good thing about this is there is no need to keep any stock of the product you are selling. You can sell literally almost anything without upfront purchasing of goods. You do not need a huge capital for this and it is now easy to connect to online buyers because of the internet.
Help the Healthcare Industry
The elderly can now be monitored using the Internet of Things. People can place an IoT-enabled device on their elderly loved one. Clinics hospitals can easily monitor the heart rate, blood pressure, and others.
If the metrics go off the pre-set values, the staff of the hospital will receive a notification or alert so they can proactively attend to the patient right away.
The Internet of Things in Malaysia is simply growing. This is the perfect time to think of business ideas that use it. With the advancement of technology, people are always using the internet and it has definitely improved our way of life.