Posts Tagged ‘Internet of Things (IoT)’

Internet of Things (IOT)

Friday, January 24th, 2020

Internet of Things (IOT) is a vast variety of things encompassing machines, humans, animals, objects, etc. all transferring data on an inter-related network without requiring any human-human or human-computer interaction.

It can easily be derived that IoT has increased our efficiency and taken it off the charts in terms of saving time, accuracy, and precision. Started with a simple machine to machine (M2M) communication it was the great potential in this that it has so rapidly expanded to now being an irreplaceable part of the industry, it has crept into the manufacturing, consumer, enterprise and separate IoTs are present for each and more.

Another basic example to highlight its presence would be the concept of “smart homes” be it Amazon or other companies all are offering a continuous array of devices to add to your house that would automatically take care of your various needs like adjusting the thermostat. Playing music, recording a T.V show, setting an alarm, etc. These devices are some of the “things” in the IoT and constantly record and analyze data to identify customer needs, patterns, and then act accordingly.

Companies are actively using IoTs to monitor their business processes, improve and adopt new business models, and enhance customer experience by making it more immersive and with the least possibility of human error. This leads to the conclusion that not only are our lives irreplaceably dependent of the Internet of Things but it is also one of the greatest sources of income for companies involved in providing these services, and this is the case when the IoT ecosystem is new and underdeveloped but with more and more investment flowing in, its exponential expansion is now a reality. In fact, companies have gone on to predict both the near and distant future of IoT and both seem to be shining extra-ordinarily.

Companies like IHS Markit believe the number of connected IoT devices will increase by 12% annually to reach 125 billion in 2030. While McKinsey & Company estimates IoT will have an $11.1 trillion impact by 2025 and Brain & Company believes that the revenue generated from IoT hardware and software shall not fall short of $450 billion by 2020.

IoT: The Internet of Things

Thursday, January 23rd, 2020

Introduction and background

IoT, which stands for the Internet of Things, is a term that is used for connecting a bunch of devices we use in the real world to the internet. Today, many electrical devices such as tablets, smartphones, laptops, TVs, etc. are connected to the internet, thus allowing us to make use of the many benefits the world wide web offers. With IoT, the idea is to connect as many objects as possible to the internet, so that we can achieve a worldwide system of interconnected objects.

When objects have internet connectivity, it means that they are capable of transferring information. In other words, data can be sent and received from one device or system to another. This communication of information makes our life much easier and more efficient, and as the world progresses, we only going to rely more on the internet and objects with internet connectivity, also known as smart devices.

The aim of IoT is to connect multiple objects we use every day in the real world to the internet so as to make our lives easier.

Challenge

The main challenge in understanding what the Internet of Things is that it is so loosely defined. The scope is so broad that it is difficult for people to understand that such a concept is a possibility in the real world. When there are so many possibilities and examples of IoT, it can be tough to really understand what the concept is about.

Moreover, most definitions of the Internet of Things that you can find online are extremely technical, which only adds to the confusion. For a concept whose basics are pretty simple, the complex definitions and broad scope make IoT more confusing than it actually is.

Solution

The Internet of Things allows objects across the globe to be connected to each other using the internet. The great thing is that these objects do not have to have huge storage or a supercomputer embedded in them. They simply need to be connected to a supercomputer or super storage, and IoT does exactly this.

So, IoT aims to extend the power of the internet beyond just computers and smartphones to a whole range of other objects and processes. In doing so, it helps businesses and people gain better insight into the 99 percent of objects and environments which are still not connected to the internet. This, in turn, encourages higher-level work that is more meaningful.

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