With advent of e-commerce, and social media, the next big thing of the internet, is connecting things and devices i.e the Internet of Things (IoT). It is connecting any devices with on and off switch to the internet or to each other. The Internet of Things is the big network of physical objects like devices, vehicles, buildings and other items which are connected with electronics, software, sensors, and network connectivity that enables these objects to collect and exchange data. This big network includes cellphones, cars, sensors kiosk, signals, vending machines and all wearable devices.
Broadband Internet is become more extensively available, the cost of connecting is decreasing, more devices are being created with Wi-Fi capabilities and sensors built into them, technology costs are going down, and smartphone penetration is increasing. All of these things are creating a good platform for the Internet of Thing.
A wide range of business functions are addressed by the IoT, creating business opportunities.
Industries which are actively connected via IOT:
In the past when car used to broke down mechanic used to come and fix the problem. But now there is a computer which automatically conducts the diagnostic.
In parking also instead of accepting a payment manually now parking kiosk now process credit card, sense when parking slots are available and also accept remote payment when to extend time. This cut down on time, traffic jams, fuel cost and most importantly frustration.
Power grid’s devices can share information through ITO in real time to distribute energy more efficiently. With IOT consumers, business gets the information they need to manage their energy connected things.
Manufacturer required all the data from suppliers and vendors. IOT helps manufacturer to evaluate and analyze the data from every link of supply chain which helps companies to increase efficiency, keeps production running smoothly and it helps to reduce the cost.
With IOT healthcare industry is transforming big time. It is transforming in remote patient monitoring, personalizing treatments and lowering healthcare cost.
Retail industry is using IOT to provide personalized shopping experience that keeps shoppers coming back again and again. With digital signage, modern and intelligent vending machines, secure debit and credit payment methods, personalized point of sale shoppers shopping experience is very unique.
Farming and agriculture:
Though this is the oldest and least technical industry it is not immune to IOT. Now farmers are also using sensors to increase farm yield, monitoring devises to see rain patern, sensors for livestock monitoring.
Future of IOT :
IOT will continue to develop collaboration between high end and low technological world. Like advantages there will be many disadvantages of IOT. Like all the connected devices are going to produce massive amount of data. Companies need to figure out a way to store, analyze and manage this data.
Also with IOT companies will need to take care of security threat, privacy and data security.
There’s no doubt that IoT will soon establish itself as a dominant technology in our world with endless opportunities and connections to take place.