Internet of Things (IoT) is the buzzword in the IT industry. Organizations that want to sharpen their existing business models implement IoT technologies to generate more revenue and ensure customer satisfaction.
It can be assumed that IoT will connect different sources of information such as smartphones, sensors and cars in a better way. As the number of devices being connected is increasing exponentially, there is a growing demand of scalable, compatible and secure solutions to support the business models.
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Sensors and Internet of Things
By 2020, there will be an estimated 50 billion networked appliances and sensors across the globe. Sensors are increasingly being installed in buildings to gather the data about heat, light, movement and use of space. This helps the property owners make real-time alterations to the environment. Data from the sensors can be analyzed and evaluated to design the buildings that suit its occupants. It is important to find an affordable way of sending data from the sensors to the internet.
Huge market potential
Also called Machine to Machine, the Internet of Things makes a huge impact on our daily lives. They have become an inherent part of areas such as healthcare, transportation, retail, industrial control, etc. Its great marketing potential attracts investments from manufacturers and industry users. With the huge market potential and demand for the connected devices, the Internet of Things offers operators an opportunity to stay connected and get real-time information.
Internet of Things : Greater Things Are Yet To Come
The Internet of Things (IoT) is the next generation of the internet. In the very near future the internet won't just be for your phone or laptop, everything will be online.
How does IoT work?
In the IoT, physical objects are embedded with sensors and computing devices to monitor their surroundings and participate in daily activities. In the coming years, more and more connected devices will be found across the globe and the Internet of Things will gather and transmit data in real time using sensors.
Technically, Internet of Things integrates multiple wired and wireless communication, IT technologies and control. The major features of the system are remote monitoring, control diagnosis, automatic alarms and maintenance. IoT will connect everything from industrial equipment to everyday objects ranging from automobiles to home appliances.
The Internet of Things extends communication beyond the traditional boundaries. Washing machines, refrigerators, vending machines, Air conditioners, etc. were considered as products unable to communicate. Now, such appliances can be networked
Being able to connect more and more devices to the Internet, IoT allows businesses greater intelligence and the ability to bolster effectiveness and efficiency of the operations. Intelligent system is transformative and so, it ensures reliability and maximum uptime. Many small and large enterprises will upgrade their equipment in the coming years and install smart machines and devices that can help to boost the productivity.
New Business opportunities
Along with greater efficiency, Internet of Things offers many new opportunities to generate revenue. IoT is capable of changing the way businesses and consumers approach the world. They would require new devices and services to navigate through the ultra-connected environment.
Different industries using IoT
The early adopters of IoT technology was the manufacturing industry. They started using smarter operations to their day to day business by integration of IoT sensor based technology. A connected enterprise makes the manufacturing business more profitable.
How can the retail industry not want to be revolutionized by IoT? When it comes to retail, IoT has become an inseparable part of the businesses. Retail industry shows early signs of revolutionizing the way retailers interact with their customers and potential clients. Connected devices help the retailers to improve the productivity and offer better customer service. They can also track the inventory and customers in real time.
Healthcare industry also embraces the IoT world where all the devices and systems can help the doctors and medical professionals provide better healthcare to their patients. Most of the doctors, clinics and hospitals have realized that intelligent technologies are the key to effective healthcare services, management and better patient care.
With healthcare, manufacturing and retail industries being benefitted from IoT, what does this technology offer the individual consumers? Well, imagine living in a world where as soon as you step it, the lights turn on and AC turns on. It is a modern world that promises us having a better life, which is easy and comfortable. We can now expect being welcomed home by IoT.
Many organizations are still trying to wrap their arms around IoT to improve their processes and offer better customer service. Are you prepared for the age of connected devices? For more information on IoT, download our Whitepaper.