WHAT IS IOT?

The vast network of devices connected to the Internet, including tablets and smart phone and almost anything with a sensor on it – cars, machines in production plants, oil drills, jet engines, wearable devices, and more. These “things” collect and exchange data.
The Internet of Things is the network of physical objects or “things” embedded with sensors, electronics, software and network connectivity, which enables these objects to collect and exchange data.

The Internet of Things allows objects to be controlled and sensed remotely across existing network infrastructure, creating opportunities for more direct integration between computer-based systems and the physical world, and resulting in improved efficiency, accuracy and economic benefit.
Things,” in the Internet of Things (IoT) sense, can refer to wide variety of devices such as biochip transponders on farm animals, electric clams in coastal waters, heart monitoring implants, automobiles with built-in sensors, DNA analysis devices for food/environmental/pathogen monitoring or field operation devices that assist fire-fighters in search and rescue operations.
These devices collect useful data with the help of various existing technologies and then autonomously flow the data between other devices.

What is the scope of IoT?

Internet of Things can connect devices embedded in various systems to the internet. The connectivity then helps us capture more data from more places, ensuring more ways of increasing efficiency and improving safety and IoT security. When objects/devices can represent themselves digitally, they can be controlled from anywhere.
Internet of Things (IoT) is transformational forces that can help companies improve performance through IoT Security and IoT analytics to deliver better results. Businesses in the manufacturing, gas, oil, transportation, insurance, infrastructure and retail sectors can reap the benefits of IoT by making more informed decisions, aided by the torrent of interactional and transactional data at their disposal.

Current Status and Future Prospect of IoT

Benefits of IoT

The advantage of IoT is the ability to track individual consumers and targeting these consumers based on the information supplied by the devices. In a way, it provides a more “personalized” system that increase business sales and increases their demographic. Additionally, with the increased amount of devices connected to the Internet the Smart Grid expands, conserving more energy. Devices can make decision and adapt without human guidance to reduce their energy usage.

Business

 

Internet of Things refers many benefits of businesses. IoT can be useful in many different categories including asset inventory and tracking control, location and shipping, individual tracking, security and energy conservation. As mentioned before, IoT allows for the communication between devices, commonly referred to as Machine-to-Machine (M2M) communication. With this being possible, devices are able to communicate to people letting them know their condition and where it is located.
Devices such as ships or trucks allow for the maximum capacity to be filled by communication amongst devices and then relaying that information to a person to capitalize on the data supplied. All of these combined maximize revenue by cutting cost of inefficiencies within the business.
Conclusion:
Conversations about the Internet of Things (IoT) are taking place all over the world. We are also trying to understand what the many opportunities and challenges are going to be as more and more devices start to join the IoT. For now the best thing that we can do is educate ourselves about what the IoT is and the potential impacts that can be seen on how we work and live.


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