With this new era of “connectedness”, technology is transforming the world rapidly in emerging areas such as the Internet of Things (IoT). More than just a network of connected devices, the Internet of Things (IoT) has become a game-changer in the 21st-century industry.
What is the Internet of Things (IoT)?
Internet of Things (IoT) refers to a connected network of software and sensors all connected together through the internet – from simple sensors to smartphones and wearables.
With the advent of IoT, you’re experiencing smart cities, smart gadgets, smart cars, smart enterprises, and even smart homes. These devices and electronics have a significant impact on our lives, how we live, eat, drive, work, and all other things. Forbes has predicted that the Internet of Things IoT will surpass the $267 billion market by the end of 2020.
Here is how we are already on the path to embracing this game-changer in our everyday lives:
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Smart Electronics/ Gadgets
Earlier, it was only possible to connect to the internet via smartphones. But today, we can find intranet connectivity to every appliance we use such as Televisions, speakers, thermostats, home security systems, refrigerators, A/C – you just name it. Not only smart electronics, but IoT has given the world smart gadgets such as wearables- health and fitness gadgets which can tell you pulse rate, sleep cycle, etc. Smart electronics are rapidly erasing the boundaries between the real and virtual worlds.
Not only electronics and gadgets that have become smart, but IoT has also revolutionized homes to smart homes. A smart-home brings together useful data, smart gadgets, and smartphone apps and accesses features to provide the dweller a complete, modern experience. You could just turn on the light or turn it off by a click on your smartphone. Moreover, with further advancement, it would be possible that your lighting system at home turns itself on when you enter the house through a smart lighting system. How cool is that?
Smart Cars/ Vehicles
From supply-chain transport to public commute, IoT is being used for the ease of people. By connecting the Internet to transport vehicles, well-known car manufacturers such as Tesla and Volvo have even committed to bring smart cars in the market. Due to the installment of sensors and smart software in vehicles to monitor temperature, it will now ensure goods especially food to drive in the best conditions. In the future, connected infrastructure will also work with connected vehicles to help reduce traffic and prevent accidents as cars will “talk to each other” to provide a smooth commuting experience. Smart cars are not far away from becoming a reality.
Think big, even beyond just smart cars and homes, and get the entire city to become smarter. From regulating utilities like power, electricity, gas, and water, governments and public management agents are already connecting these systems to the internet as pacing their ways to smart cities. The smart city revolution is going to hit us in a big way, in a bid to improve the efficiency of energy, material, and human resources. For example, Smart city lighting will reduce energy consumption when no one is present.
IoT device installations in the agricultural industry have made farming and agribusiness reach to the next level of innovation and advancements. It’s estimated that smart agriculture to grow from 30 million in 2015 to 75 million in 2020. Farmers are acquiring new data to optimize their yield to a maximum level from crops and livestock.
IoT has helped the healthcare industry to evolve into a better, innovative, and more efficient business, providing better services for the treatment of patients. For example, by connecting an MRI machine up to the internet, hospital staff can get alarms or notifications for when help is required.
Retailers are also beginning to adopting IoT technology to improve customer experience, lessen costs, boost sales, and enhance overall services. The growth of IoT technology in the retail industry is predicted to exceed $35 billion by the end of the year 2020. Major retailers like Walmart, BigBazar, etc have already started using IoT technology to improve their overall performance, both online and in-store.