Internet today has managed to create a world of difference, from connectivity, to standard of living to improving the socio-economic factors, internet has had a commanding influence and presence.
Technologies like augmented reality, virtual reality and artificial intelligence have managed to transform and bring about significant changes in the medical, healthcare and entertainment sectors among others.
The focus is now on Internet of things (IoT), this is one of the up and coming innovations as it will have a far-reaching impact and companies are now looking to cash in on this innovation.
The possibilities with IoT are endless and once you start exploring them there is no end to it.
So, what is IoT and what is the significance it holds, let’s look into that:
What is IoT:
Internet of things is a process by where in devices can transfer data to and from each other independently from one device to another without assistance manually or intrusion. The technology entrenched in these devices enables them to have interactions within themselves or other external factors, due to which it helps them make their decisions.
Industries and businesses are slowly beginning to venture into IoT applications to increase efficiency and improve productivity.
IoT segment seems to be growing and expanding every day, with a lot of devices now being brought into the IoT fold.
- Accessibility to a huge data base of material for analytical purposes
- Data Storage in large numbers
- Operational from a remote access
- Independent of manual operation
Reports also state that more than 50 billion devices will be connected to the internet via IoT by 2020 transforming into a multi-trillion-dollar market.(https://www.skyfilabs.com/resources)
Things IoT can do:
IoT has been creating and developing ecosystems that are inter linked and interconnected with each other in such a seamless and effortless manner, and the communication between these devices is something we never expected to happen.
It helps you analyze data, share these data, secure data in a cloud and helps give a significant meaning to the data and change the way businesses operate. Devices apart from your smartphones can be embedded with this technology and interlinked to other devices.
Application development companies are developing and designing software’s so that more and more devices can be connected using IoT applications.
Today companies across the world are bringing IoT into their fold by either incorporating them into their production services or their products.
Future of IoT:
Storage of Data:
Internet of things has made it possible for storage of large amounts of data, not only does it store data, but it also helps in transferring data from one device to another. There seems to be a growing need for this as data is an essential tool for analysis, as companies and business like to have access to data to analyze the needs of their customers among other things.
Popularity of Smart Homes:
Not only are phones smart today, but the technology used in our homes are making our homes smart to, from security alarms to electricity and other appliances, connectivity has increased and IoT has contributed towards this. This trend is here to stay and grow and IoT is what is going to help with this.
As the popularity and awareness of IoT grow, we will see a significant change and transformation in how industries work. The health care and automobile industry has already incorporated IoT with an efficiency and practicality that now more and more industries are moving towards this technology. Also, cities are moving towards becoming smart. This will also help monitor data related to patients and their care and transmit the same to the concerned parties.
Efficiency and Productivity:
Technology has already proven to increase efficiency and productivity, but IoT will drive this even further and will minimize the scope of errors even further. As they need be controlled and can function independently, this gives industry an automation and enables them to produce better results. Also, it helps bring down the cost of production, thereby making it a highly popular technology to adapt.
Faster Decision Making
Artificial Intelligence combined with IoT will help analyze, process data faster. It helps identify trends, also be able to protect them better and provide resolutions faster.
Companies and cities alike are moving towards IoT as it will give them a competitive edge and help make them pioneers in their respective fields.
The future will see a lot of companies incorporating IoT into their products and application companies help develop such software. IoT has been a great revelation when it comes to the transmission and storage of data. It has connected devices as simple as alarms to making cars driverless and being remotely controlled.
One big contribution has been in the analysis of data of large quantities. The world of internet of things is moving and at rapid space. There are big things to come and the anticipation is going to be worth it