Unless you are Patrick from Spongebob and been living under the rock, there are high chances that you have come across the term “internet of things” This term is becoming increasingly popular with each passing second. But, there are still a bunch of us who have no clue what this term signifies. There are still many of us who scratch their heads and ask, “What is this, and why should I care?”
This article is all about not only getting you acquainted with the term but also explaining in intricate detail what this concept is all about. We are going to explore how different industries are applying the idea.
What is the Internet of Things?
Internet of things or IoT, as everyone likes to call it, refers to the billions of physical devices around the world that are connected to the Internet. By combining these connected devices with automated systems, it is becoming more and more convenient to gather information, analyze it, and take action. Thanks to cheap processors and wireless networks, it is possible to turn anything from a pill to an airplane into part of IoT. The latter is responsible for adding a level of intelligence to devices, enabling them to communicate real-time data without a human being involved, effectively merging the digital and physical worlds.
This incredible concept is used for the devices that wouldn’t usually be expected to have an internet connection. It allows the devices to communicate with the network independently of human action. This is the only reason that a PC or a smartphone is generally not considered an IoT device. While a smartwatch or a fitness band might be supposed as an IoT device.
Throwing some light on the history of Internet Of things
It all started in the 1980s and 1990s when the idea of adding sensors and intelligence to basic thoughts was prevailing. No matter how explosive the discussion was, the process went on gradually. This might be because the technology wasn’t ready.
It was not before than the 2000s that the Internet of Things emerged as technological infrastructure. Before the whole process of connecting billions of devices became cost-effective, the processors that were cheap and power frugal enough to be all but disposable were required. The adoption of RFID tags solved this issue. They being the low-power chips that can communicate wirelessly helped in resolving the issue. All you need is the enhancing availability of broadband Internet and cellular and wireless networking.
Why IoT matter?
Once something is connected to the Internet, it has the ability to send information or receive information or both. This concept of sending and receiving information makes things appear smart.
To make it a tad simpler for you to understand, let us use a smartphone as an example. Have you ever wondered how you can listen to just about any song in the world? It is not because your phone has every song in this world, but every song in the world is stored somewhere else. Your phone has this fantastic ability that allows it to send information and then receive it.
In the concept of the Internet of Things, the things that are being connected to the Internet can be categorized into three listings.
Things that receive information and act on it.
Things that collect information and then send it.
Things that do both.
Benefits of Internet of Things for business
The benefits of IoT depends on the particular implementation. The key to a successful operation is that enterprises should have access to more data about their products and their internal systems, and a more exceptional ability to make changes as a result.
With the advancement in technology and an increase in the popularity of IoT, manufacturers are getting more vigilant than ever. They have started adding sensors to the components of their products so that they can transmit back data about how they are performing. This is sure to help the companies spot when an element is likely to fail and swap it out before it causes damage.
The data generated by these sensors is used by companies to make their systems and their supply chains more efficient. They tend to have much more accurate data about what is going on.
If we talk about the enterprise use of IoT, iT can be divided into two segments. IoT devices that can be used in all industries and industry-specific offerings like sensors in a generating plant or real-time location devices for healthcare.
The industrial Internet of things
The fourth industrial revolution or industry 4.0 or The Industrial internet of things are all the names given to a single thing. The use of IoT technology in a business setting. The concept is to use a combination of wireless networks, sensors, big data, and analytics to measure and optimize industrial processes.
As we have already established, the Internet Of things has found its benefits in both the private and public sectors. With the coming of this fantastic concept, people are able to track their house’s security systems, lost pets, or appliance maintenance schedule.
Consumers use this concept of IoT to monitor their exercise progress, make restaurant reservations, and receive coupons for a store only by walking by the business in question. Let us talk about in intricate detail about the applications.
IoT applications by industries
Thanks to its adoption by a wide range of sectors, the ubiquity of the Internet of Things is a fact. The versatility of this incredible concept makes it an enticing option for a plethora of industries. These industries include businesses, organizations, and government branches. Let us see how IoT can be applied to different industries.
Wearable IoT devices allow hospitals to monitor their patient’s health at home. Smart beds, which are an intelligent innovation, helps in keeping the staff informed of the availability. This helps in cutting wait time for free space. If we put IoT sensors on critical equipment, there are fewer chances of breakdowns and enhanced reliability.
IoT has such a vast array of applications that even the insurance company can benefit from its revolution. Insurance companies can offer their policyholders discounts for IoT wearables such as Fitbit. The insurer can encourage healthier habits and provide customized policy by employing fitness training. This is a win-win situation for both the insurer and the customer in the long run.
The world of industrial automation and manufacturing is another big winner in the IoT sweepstakes. GPS and RFID technology can help a manufacturer track a product from its start on the factory floor to its placement in the destination store. These sensors are uniquely designed to gather information on product conditions, travel time, and environmental conditions that the product was subjected to.
By this time, you must have all heard about the progress being made with self-driving cars. That is just one bit of the vast potential in the field of transportation. The GPS, which is another example of IoT, is being utilized to help transportation companies plot faster and more efficient routes for trucks.
The Future of IoT.
Now that you are well-acquainted with the concept of IoT and its applications in various industries, it is time to decipher its future. The question that arises is where does this concept goes into the future.
The IoT is most likely to keep on growing. Connected cars are most likely to find the quickest and safest routes in the future. IoT prevailing streetlights will record data on traffic, safety, lighting, and even their quality. Air taxis will most likely be taking people in cities from A to B. This development is sure to be driven by the expansion of the new high-speed mobile network. This will enable faster and more stable data transmission.
Talking about edge computing, it is also most likely to grow in importance, moving ahead. IoT devices will then be able to process data directly on the device. The process of data analysis will be faster.