The Internet of Things(IoT) is a network of devices that communicate through the Internet. Each device in an IoT network is assigned an IP address through which they receive and transmit data across the network without any manual assistance. IoT exploits the recent developments in the software, falling hardware prices and modern attitudes towards technology. Its new and advanced elements brings changes in the delivery of products, goods and services; and the social, economic and political impact of these changes.
Machine to Machine (M2M) solutions – a subset of the IoT – already use wireless networks to connect devices to each other and the Internet, with minimal direct human intervention, to deliver services that meet the needs of a wide range of industries. In 2013, M2M connections accounted for 2.8% of global mobile connections (195 million), indicating that the sector is still at a relatively early stage in its development. An evolution of M2M, the IoT represents the coordination of multiple vendors’ machines, devices and appliances connected to the Internet through multiple networks.
IoT software addresses its key areas of networking and action through platforms, embedded systems, partner systems, and middleware. These individual and master applications are responsible for data collection, device integration, real-time analytics, and application and process extension within the IoT network. IoT has applications across all industries and markets. It spans user groups from those who want to reduce energy use in their home to large organizations who want to streamline their operations. It proves not just useful, but nearly critical in many industries as technology advances and we move towards the advanced automation imagined in the distant future.
Few Real World applications of IoT
- Smart Homes
- Connected Cars
- Energy Management
- Industrial Internet
- Smart Cities
- IoT in Agriculture
- Smart Retail
Impact of IoT on Commercial Energy – Energy waste can easily and quietly impact business in a major way, given the tremendous energy needs of even small organizations. Smaller organizations suffer with balancing costs of business while delivering a product with typically smaller margins, and working with limited funding and technology. Larger organizations must monitor a massive, complex ecosystem of energy use that offers few simple, effective solutions for energy use management. IoT simplifies the process of energy monitoring and management while maintaining a low cost and high level of accuracy. It addresses all points of an organization’s energy consumption across devices. Its depth of analysis and control provides organizations with a strong means of managing their energy consumption for cost saving and output optimization.
As the Internet of Things evolves, the growth of smart connected devices supported by mobile networks, providing common and seamless connectivity, will unlock opportunities to provide life-enhancing services for consumers while boosting productivity for enterprises.