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Introduction

Definition

Internet of things(IOT) mainly describes the networks of various physical objects that are embedded with sensors, software and other technologies for the main purpose of connecting and exchanging data with other devices and systems over the internet. More than 7 billion devices are IOT connected up to now. And experts are expecting that up to 10 billion devices will be IOT connected by 2020 and 22 billion by 2025.

 

Examples:

A lightbulb can be switched on using a smartphone app so, lightbulb can also be called an IOT device. An IOT device could be as a driverless truck. In smart cities projects are filling entire regions with sensors to help us understand and control the environment. Some other  examples of IOT connected devices are smart speakers, wifi controlled bulbs, fitness watches and bands, wifi air conditioners, doorbell, security alarm, water heater, industry standard sensors etc. In the same way next is Amazon Echo Plus Voice controller, belkin WeMo smart light switch, Ring Doorbell etc.

Application area for the IOT

1: Manufacturing/Industrial

Industrial IOT is transforming the rules of manufacturing, fueling cloud and edge innovation, accelerating the evolution of digital factories, and enhancing operational performance.

2: Transportation/Mobility

3: Home and Building Automation

4: Wearables

5: Automotive etc.

Why IOT is important ?

IOT can create information about connected objects, analyze it and make decisions, it can be said that it’s smarter than the internet. The devices which are not previously been connected to the internet, can be networked and respond in the same way as smart devices respond. Technology is now part of our lives, it is reinventing the fun of every activity and the internet of things is the main reasons for making it possible. It provides platform that creates opportunities for the people to connect these devices and control them with big data technology, which in turns will promote efficiency in performance, economic benefits and minimize the need for human involvement. It’s one of the most important development of the 21st century. It helps to promotes efficient utilization of resources as well as helps to boosts the real time marketing of products.

Advantages of IOT in business:

  • Lower operating costs

A fleet of IOT devices can help businesses optimize their workflows and lower operating costs because they provide real-time information.

  • Increased productivity

IOT devices can manage, monitor and alert staff of changes in processes or productivity, helping them makes smarter decisions about work.

  • Better customer experiences

IOT devices help businesses track, monitor, uncover and analyze customer behavior before they happen.

  • More business insights

IOT devices help organization gather data to identify insights about their business, both internally and externally.

 

Disadvantages of IOT in business:

  • Security

Keeping the data gathered and transmitted by IOT devices safe is challenging, as they evolve and expand in use. Although cybersecurity is a high priority, IOT devices aren’t always included in the strategy. Devices must be protected from physical tampering, internet-based software attacks, network-based attacks and hardware-based attacks.

  • Technical complexity

Sometimes it might be seen like IOT devices are performing simple tasks such as counting entry swipes at a secure door, there’s a lot of complex technology involved in creating them. And if they’re providing essential data to another workflow or system, they could negatively affect everything connected to it. Miscounting the number of swipes at the door isn’t a big deal, but if another device confuse temperature data with entry swipe data, it can be catastrophic. And the error isn’t always to fix.

  • Connectivity and power dependence

Many devices depend on continuous power or internet connectivity to function properly. When either goes down, so does the device and anything connected to it.

  • Time consuming and expensive to implement

Deploying IOT devices often comes with high time and money investment requirements. There’s the number of devices to be purchased and configured, staff to install them, others to integrate them into the network and support calls to the manufacturer for the help. If they’re all going into single location, businesses can make up that investment quickly. If the business is spreading them out, expect the cost to rise exponentially.

IOT devices are mainly connected to the network with the help of gateways, these gateways or processing nodes process the information collected from the sensors and transfer it to the cloud which acts as both the storage and processing unit all actions performed at the collected data are used for further learning and inferences with the improved response monitoring and analytical capabilities IOT is being adopted in almost all industries and domains opening doors to countless applications. Such a wide spectrum of applications the future of IOT looks brighter than ever before. IOT devices are integrated with other technologies like cloud computing, machine learning and artificial intelligence to pave the way for many new and exciting innovations.

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