Internet of Things | FutureSkills Prime

All about the Internet of Things

Advancement in technology, particularly information technology is bringing about a revolution that is completely changing the way we live and work. The Internet of Things (IoT) revolution is facilitating increased connectivity for everyone, everything, everywhere, all the time, causing an elementary shift in how we carry out everyday chores.

The word ‘things’ in IoT can be described as objects that are embedded with sensors, a system of interrelated computing devices, even people and animals, provided with unique identifiers having the ability to transfer data over the Internet, without human-to-computer interaction. An ‘Object or Thing’ in the Internet of Things can be a heart monitor implant in a human or a biochip on an animal in a sanctuary or farm, a sensor in an automobile or embedded software to collect, communicate and exchange data in a variety of industries to increase value and offer enhanced customer service. By 2020, industries such as Utilities, Manufacturing, Automotive and Transportation & Logistics are expected to see highest the adoption levels.

The installed base of IoT units globally is expected to reach 20.8 billion by 2020 (USD 3 trillion in revenue terms). India has begun its IoT journey much later than developed economies but is expected to vault very quickly into its adoption. IoT units in India are expected to grow ~32X to 1.9 billion by 2020, from its current base of 60 million. This translates to a market size of USD 9 billion by 2020, ~7X growth over 2016.

Internet of things applications: key areas

Smart Cities will continue to expand their reach with technologies that leverage data of IoT devices between entities. The iot technology will help in providing cities with smart lighting, automated parking, smart irrigation, waste management, environment checks for pollution levels and smart homes to make better use of infrastructure, ensure the safety of residents and efficient management of resources.
Smart Factories by enabling automation and real-time data analytics and to boost productivity and ensure seamless operations by improving workflow and identifying errors, thus saving production time and tracking assets to help consolidate control rooms.
Healthcare service providers can access real-time data remotely to monitor patients and diminish the risk of diseases by having more time for research.
Artificial Intelligence (AI) capabilities will allow businesses to get more value out of their big data. AI will visualize, predict and analyze data collected through IoT devices from real-time locations.
Edge Computing processes and stores data on a local device, before sending it to the cloud that is used for sorting and calculating the data. More organizations will be adapting to Edge Computing to use less bandwidth and be more affordable.
Smart Retail. Use of RFID (Radio Frequency Identification Tags) and IoT devices is making retail experience smarter and better. Store managers can track visitor movement in the store, which helps best customer experience, while also managing inventory. Iot architectures in retail will improve the overall experience.
Fitness: Real-time data from tracking devices can help in monitoring fitness and health conditions like blood pressure, blood sugar, pulse etc. In an emergency, these smart devices can send out timely alerts.
Telecommunications will be redefined with the rollout of 5G, increasing the number of connected devices on IoT platforms and reinventing lives with the magnitude of hyper-connectivity.

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