The Internet of Things, or IoT, is a system of connected devices, computers and digital machines with unique identifiers that transfer data over a network. Smartphones, laptops, wearables, sensors… they’re all part of the Internet of Things as long as they’re connected and sharing data. Beyond that, IoT also includes a person with a heartbeat monitor implant, a farm animal with a chip transponder, or a car alerting a driver to low tire pressure. In a business sense, IoT supports smarter working with more control. Across industries, IoT enables process automation, analysis and insight, labor production, and performance monitoring.
For example, airlines use IoT sensors for real-time data reporting on airplane engine status and equipment conditions. Theme Parks even use IoT to track visitor movement for insight into popular attractions and traffic flow. This can help the park better address bottlenecks long lines, and even waste management. Businesses are increasingly adopting IoT to improve efficiency, customer service and decision making. But all these connected devices are not without potential issues. As the number of connected devices and shared information increases, so do security and privacy concerns. Also, any bugs in a single device can potentially affect an entire IoT system.
and this is true especially for an enterprise – these connected devices produce a ton of data, which can be difficult to collect and manage, let alone glean business insight from. Finally, competing IoT standards can create headaches in terms of getting different devices from different manufacturers to communicate with one another. Still, companies will have to address these challenges because the IoT market is booming, and experts predict IoT adoption and spending will grow exponentially over the next few years.
What are the advantages of IoT?
The Internet of Things or iot is influencing our lifestyle from the way we react to the way we behave. From air conditioners that you can control with your smartphone to Smart Cars providing the shortest route or your Smartwatch which is track in your daily activities.
IoT is a giant network with connected devices. These devices gather and share data about how they are used and the environment in which they are operated. It’s all done using sensors, sensors are embedded in every physical device. It can be your mobile phone, electrical appliances Pecos barcode sensors traffic lights and almost everything that you come across in day-to-day life. These sensors continuously emit data about the working state of the devices, but the important question is how do they share this huge amount of data, and how do we put this data to our benefit iot provides a common platform for all these devices to dump their data. And a Common language for all the devices to communicate with each other. Data is emitted from various sensors and sent to iot platform security iot platform integrates the collected data from various sources further analytics is performed on the data and valuable information Is extracted as per requirement. Finally. The result is shared with other devices for better user experience Automation and improving efficiencies. Let us look at a scenario where iot is doing wonders. In an AC manufacturing industry. both the manufacturing machine and the Belt have sensors attached they continuously send data regarding the machine health and the production specifics to the manufacturer to identify issues beforehand. A barcode is attached to each product before leaving the belt.
It contains the product code, manufacturer details, special instructions Etc. The manufacturer uses this data to identify where the product was distributed and track the Retailer’s inventory hence, the manufacturer can make the product running out of stock available Next this product is packed and parcel to different retailers. Each retailer has a barcode reader to track the products coming from different manufacturers manage inventory, check special instructions and many more. The compressor of air conditioner has an embedded sensor that emits data regarding its health and temperature. This data is not allies continuously allowing the customer care to contact you for the repair work in time. This is just one of the million scenarios.
We have Smart appliances, Smart Cars, Smart Homes, smart Cities where iot is redefining our lifestyle and transforming the way we interact with Technologies. The future of iot industry is huge. Business Insider intelligence estimates that 24 billion iot devices will be installed by 2020 and ITC predicts that iot Revenue will reach around three hundred and fifty-seven billion in 2019 resulting in a loaf job opportunity in the IT industry.