Over the past few years, there has been a lot of speculation about the Internet of Things, and how it could change our future. Yet, not many people know what it is and how it could affect our day to day living. The Internet of Things is an inter-connected network of objects that enables them to send, receive and exchange data without any human interference. To give you an example, imagine you are coming back home on a hot sunny day. With the help of your mobile phone, you send a command to turn your Air Conditioner on so the room is cool by the time you reach. IoT is a world in which appliances use built in sensors which allow the device to connect to a network so that it can receive and transmit information with ease. This particular concept has the potential to transform the way we live, the way we think, and how we perform.
Over the last two decades, India has emerged as one of the biggest hubs in Information Technology in the world. Increased penetration of affordable devices, combined with cloud computing, analytics and rising consumer expectations is driving the rapid growth of the IoT market. With the IoT fast approaching, the McKinsey Global Institute predicts that the IoT will have a total economic impact of around 65,000 crores and will create around 10 lakhs new jobs by 2025.
Industries such as Manufacturing, Automotive, Transportation and logistics are expected to be the top adopters, followed by Healthcare, Retail, and agriculture as users of IoT solutions. The main benefits of using IoT solutions are – lowers operating costs, increased productivity, and expansion to new markets and products. Big Companies such as IBM, CISCO, Qualcomm and many more Indian Start ups have begun investing in the IoT space. German Tech Company Bosch is looking to invest 1,700 crores over the next three years in India as it focuses on IoT and artificial Intelligence. The Indian telecommunication is investing heavily in IoT as well. Tata Communications is investing 700 crores in IoT, with a focus on smart cities, utilities, and people safety.
The Government will also be a major adopter of the IoT. There are several projects underway, and a few of them include – Smart Cities around the country which will deploy and display the usage of IoT. Concepts such as Smart Lighting, Smart Traffic management, Wi-Fi access, Solid waste management etc will be used. Smart Water – to setup Portable Water monitoring tools to not only monitor the quality of water tap water, but also detect real time leakages and monitor water levels in rivers, dams, and reservoirs for proactive disaster management. Smart Environment – to setup up alarm systems to control CO2 emissions of factories and pollution emitted by the population. Smart Waste Management – To assist the Swach Bharat Initiative, setup projects to create products which are solar-powered trash receptacle and trash compactor that alerts sanitation crews of municipal authorities, when it is full.
We here at Energyly our doing our part to contribute to this technological wave too. Our products use intelligent analytics & Insights to help Industries, Restaurants, BFSI and Retail sector, reduce their power usage. Our Energy Monitoring Devices combine the power of cloud computing & mobility provides you with simple, proactive & actionable insights in real-time. We provide a complete viable end-to-end solution for greater visibility and control of power bills. In simpler terms, Energyly can improve your profit margin by reducing your monthly electricity bills by reducing your energy consumption based on the data analytics of your energy usage by intelligent monitoring.
The future of IoT is virtually unlimited and seems bright due to advances in technology and consumers desire to integrate devices such as smart phones with household machines. Wi-Fi has made it possible to connect people and machines on land, in the air and at sea. It is critical that both companies and governments keep in ethics in mind as we approach the next Industrial Revolution.. The possibilities are exciting, productivity will increase and amazing things are set to occur over the next few years.