The internet of things is expanding across various industries. From Manufacturing to automotive and healthcare are few of the sectors to name. If you search about IoT in google, you may find some technical terms. So let’s make it easy for you. But what IoT is precise? Read on to know more about IoT.
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What is the Internet of Things?
Internet of things refers to the billions of devices that connect to the internet, collecting and sharing data. It adds the digital intelligence to devices that would have been dumb otherwise, which enables them to commute. The cheap processors and wireless networks make everything become part of an IoT.
Any physical device can turn into an IoT if it is connected to the internet and controlled by it. The term IoT used for the tools that usually don’t have an internet connection that can communicate with the network independently without human intervention. A smartwatch or a fitness band considers being an IoT.
History of the Internet of Things
The idea of adding sensors through to devices discussed during the 1980s and 1990s. But progress was slow because the technology wasn’t ready at that time. During that time, the internet connection was costly and time-consuming. But since then, the cost of adding sensors and internet connection to objects continued to decline. According to experts, the cost of the internet would reduce in the coming times, making it possible to connect everything to the internet. The IoT was mainly interesting to business and Manufacturing, where its application is known as machine to machine(M2M).
Benefits of Internet of Things for Business
Manufacturers tend to add sensors to their products so that they can transmit back data about how they are performing. It will make the company aware of the rise and decline of a product before they cause damage. For companies, these sensors are an asset as they provide many accurate data about what is going on. Data generation would add more value in making informed business decisions and strategies of competence. The benefits of IoT in business are:
- It enables a company to monitor its business
- Improves the overall consumer experience
- Saves time and money
- Enables more of revenue generation
- Decision making improves
Benefits of the Internet of things for consumers
IoT makes our home, vehicles, and office smarter and more measurable. Smart speakers like amazon echo make it easier to play music and get information quickly without using mobile phones. While security systems make it easier to watch what is going on inside and outside of your home. Smartwatches are handy, and multiple functions of the phone can perform on the smartwatch tech without actually using your phone.
Advantages and disadvantages of IoT
Some of the benefits of IoT are:
- Communication improved amongst the electronic devices
- Accessing information became easy and can access anywhere and anytime
- The business grew manageable and more comfortable due to these devices
- Transferring data packets lead to saving time and money
Disadvantages of IoT are:
- The leaking of confidential information comes, and data is a significant concern as all devices are connected
- If there’s a bug in a system, all devices may corrupt
- Devices from different manufacturers would make it difficult to communicate with each other
- Organizations have to deal with various devices, making it difficult for them to manage millions of devices.
Industries that can benefit from IoT
1. Automotive
IoT applications have various benefits in the automotive sector. Sensors can detect the failure in vehicles on the road and can alert the drivers with recommendations. The information collected by IoT applications helps make automotive manufacturers informed and car owners aware of any defect in their vehicles.
2. Manufacturing
Manufacturers can gain an advantage by using IoT applications to detect an impending failure in devices. With the help of sensor alerts, car manufacturers can check the equipment for accuracy and remove it from production until prepared.
3. Healthcare
IoT is an asset in the healthcare sector. Since the hospital nowadays is vast and equipment are limited, IoT makes the hospital work easy and efficient. Installing IoT sensors in wheelchairs would make it easy to track its location and make quick arrangements for the wheelchairs.
4. Transportation
Transportation has various benefits from IoT applications. The trucks and tempos that carry inventory can be alerted with the weather conditions and can reroute to avoid any difficulty later.
5. General safety for all
Security is a must, especially for the people working in mines, oil, and gas fields. Connecting them to IoT based applications would be able to prevent accidents and can be rescued on time.
The Internet of Things is everywhere around the world. From smart speakers to baby toys, everything has IoT. And in the future, it will grow and expand only where all devices will be connected to the internet, making our lives more relaxed and comfortable.
