IoT

IoT is short form for Internet of Things 

As per the definition given by Wikipedia "The Internet of things (IoT) is the inter-networking of physical devices, vehicles (also referred to as "connected devices" and "smart devices"), buildings, and other items embedded with electronics, software, sensors, actuators, and network connectivity which enable these objects to collect and exchange data."

The implementation 

It is an ever-growing network of physical objects (SBC) that feature an IP address for internet connectivity, and the communication that occurs between these objects and other Internet-enabled devices and systems. It extends internet connectivity beyond traditional devices like desktop and laptop computers, smartphones and tablets to a diverse range of devices and everyday things that utilize embedded technology to communicate and interact with the external environment.

The IoT allows objects to be sensed or controlled remotely across existing network infrastructure, creating opportunities for more direct integration of the physical world into computer-based systems, and resulting in improved efficiency, accuracy and economic benefit in addition to reduced human intervention When IoT is augmented with sensors and actuators, the technology becomes an instance of the more general class of cyber-physical systems, which also encompasses technologies such as smart grids, virtual power plants, smart homes, intelligent transportation and smart cities. Each thing is uniquely identifiable through its embedded computing system but is able to interoperate within the existing Internet infrastructure.

The Future of IoT

As far as the reach of the Internet of Things, there are more than 12 billion devices that can currently connect to the Internet, and researchers at IDC estimate that by 2020 there will be 26 times more connected things than people.

According to Gartner, consumer applications will drive the number of connected things, while enterprise will account for most of the revenue. IoT adoption is growing, with manufacturing and utilities estimated to have the largest installed base of Things by 2020.

How Internet of Things Work

The Internet of Things consists of all the web-enabled devices that collect, send and act on data they acquire from their surrounding environments using embedded sensors, processors and communication hardware. These devices, often called "connected" or "smart" devices, can sometimes talk to other related devices, a process called machine-to-machine (M2M) communication, and act on the information they get from one another. Humans can interact with the gadgets to set them up, give them instructions or access the data, but the devices do most of the work on their own without human intervention. These devices are popping up everywhere, and these abilities can be used to enhance nearly any physical object.

The security concerns

One of the key drivers of the IoT is data. The success of the idea of connecting devices to make them more efficient is dependent upon access to and storage & processing of data. For this purpose, companies working on IoT collect data from multiple sources and store it in their cloud network for further processing. This leaves the door wide open for privacy and security dangers and single point vulnerability of multiple systems. Concerns have been raised that the Internet of things is being developed rapidly without appropriate consideration of the profound security challenges involve and the regulatory changes that might be necessary.

Most of the technical security issues are similar to those of conventional servers, workstations and smartphones, but the firewall, security update and anti-malware systems used for those are generally unsuitable for the much smaller, less capable, IoT devices. The overall understanding of IoT is essential for basic user security. Keeping up with current anti virus software and patching updates will help mitigate cyber attacks.

The impact

If you are wondering what impact will IoT have on the economy then for your information as per the Cisco report IoT will generate $14.4 trillion in value across all industries in the next decade. Yes, you are thinking correctly IoT will bring a wave, nobody can forsee. So it is the new kid on the block ready to take the world on stride.

Real World Applications of IoT

Smart Homes

Switch on air conditioning before reaching home or switch off lights even after you have left home? Or unlock the doors to friends for temporary access even when you are not at home. Don’t be surprised with IoT taking shape companies are building products to make your life simpler and convenient.

Wearables

Wearables have experienced a explosive demand in markets all over the world. Wearable devices are installed with sensors and software which collect data and information about the users. This data is later pre-processed to extract essential insights about user. These devices broadly cover fitness, health and entertainment requirements.

Connected Cars

The automotive digital technology has focused on optimizing vehicles internal functions. But now, this attention is growing towards enhancing the in-car experience. A connected car is a vehicle which is able to optimize it’s own operation, maintenance as well as comfort of passengers using on-board sensors and internet connectivity.

Smart Retail

The potential of IoT in the retail sector is enormous. IoT provides an opportunity to retailers to connect with the customers to enhance the in-store experience. Smartphones will be the way for retailers to remain connected with their consumers even out of store. Interacting through Smartphones and using Beacon technology can help retailers serve their consumers better. They can also track consumers path through a store and improve store layout and place premium products in high traffic areas.

Smart Cities

Smart city is another powerful application of IoT generating curiosity among world’s population. Smart surveillance, automated transportation, smarter energy management systems, water distribution, urban security and environmental monitoring all are examples of internet of things applications for smart cities.

The future of IoT is more fascinating than this where billions of things will be talking to each other and human intervention will become least. IoT will bring macro shift in the way we live and work.