IoT world market and predictions

What exactly is Internet of Things and What do you need to know?

We used to hear the term ‘Internet of Things’ many times in the discussion, conferences and events. But do we actually know what internet of things is and how it is beneficial for mankind! You might think why I call it beneficial!! Well, you will know as you read further.

Internet of things definition

So What Is IoT (Internet-of-Things)?

Fundamentally, IoT is to make the connection between device containing on-off switch and the internet. All appliances we use routinely can be considered in this such as washing machine, lamps, cellphones or smart watch, oven and everything we going to use. As per analysis by Cisco, 50 billion devices will be a part of IoT by 2020 and according to GE, Industrial IoT is going to contribute $10 to $15 trillion to global GDP in preceding 20 years.

Many things we routinely use are part of IoT but we don’t know about. For an instance, we use to get notifications about heavy traffic on our daily routes using google maps. Any real time data we access and/or control anywhere is called IoT. Another great example is FitBit watch that continuously analyse your health and notify you about every movement. In general, IoT is the huge network of connected things and/or people. This connection can be between people to people, people to things or things to things.

IoT world market and predictions

Benefits of Internet-of-Things?

Everything will be connected in the future. Now question arises why we need so many devices to be integrated. Let’s check some of the examples that prove worth of connected devices. Assume a smart watch or alarm wakes up you at your decided time and same time notifies your tea maker machine to brew tea for you. This can save your time consumed in preparing tea or waiting for it to get brewed. Now suppose, you give wearable device to your each employee that tracks their activities and let you know about the time their productivity was higher.

Let’s consider Internet of Things at larger scale. Authorities at different places have applied IoT for varieties of tasks. Such as detecting pollution level in the air and taking action to control it can prevent its negative effects on environment &human health as well. Second best example is developing buildings with a solar system to save non-renewable energy resources.

Overall, IoT is the vast concept with endless opportunities, some of which we can’t get ideas of how it impacts today and going to impact on our lives. Undoubtedly, there are many things in which IoT is beneficial but alike other technology, IoT contains risks as well. In our next blog, we will discuss about the risks associated with the IoT.

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