What is the Internet of Things?
The Internet of Things (IoT) is a network of physical objects designed for connecting and exchanging data using the Internet connection. Thus, the objects within each network can use addressive connections, cooperate, and process data. In other words, the Internet of Things applications allow communication between devices, people, and processes with minimum human intervention.
IoT apps are a rather recent technology that has already been claimed to be the most valuable development of the 21st century. Overall, IoT managed to bring the digital world and the physical one together to work as one.
How does the Internet of Things work?
A combination of several modern technologies has made it possible to create IoT.
The creation and fast adoption of IoT technology wouldn’t be possible without cheap computer chips and the Internet. These two elements created the pathway for communication between physical objects.
Here are four components of any other IoT technology:
- Sensors – This technology connects devices with the surrounding and helps collect information for future processing.
- Connectivity – This component connects sensors with cloud technology. The connection between a cloud and devices happens via Bluetooth, Wi-Fi, satellite or other methods supported by each IoT app.
- Data processing – Once in the cloud, the data gets processed according to its final purpose. Software reads the gathered information and chooses the following actions.
- User interface – At this stage, the Internet of Things application interacts with users. Thus, people can receive updates, get alerts, or check the data themselves. Here, users can also make adjustments to the devices and operations.
All four components lie in the foundation of creating the connected world, making it smarter and more responsive.
What are the benefits of the Internet of Things for business?
The Internet of Things solutions can be either applied to any industry or remain industry-specific. In both cases, IoT applications bring innovation into production, delivery, services, and monitoring. IoT gives businesses a chance to reconsider the entire work order.
The Internet of Things helps gather and analyze information, offering the best solutions for action. The new automated system can save money and time, creating a more efficient work process with minimum waste and reduced emissions.
Examples:
- spotting a failing component,
- inventory management,
- remote monitoring, and
- accurate insights
What are the benefits of the Internet of Things for consumers?
So, how does the Internet of Things impact our lives? A network of connected devices can help us on several levels. Overall, the customer benefits of the Internet of Things are in providing customers with comfortable, convenient, and secure services. Thus, users can enjoy smart solutions to everyday problems. Most IoT devices are designed for an enhanced technological experience, whether those are personal digital assistants, home security, or health devices.
Industries that benefit from IoT
So what does IoT mean for various industries? Here are the top industries which have adopted the Internet of Things solutions:
- Retail and supply chain management: supply chain control, logistical management, and inventory tracking.
- Healthcare: enhanced healthcare devices, tracking of patient data and satisfaction, and reduced operating costs.
- Agriculture: automated weatherization, pest detection, livestock monitoring, and harvest monitoring (climate, soil, and crop conditions).
- Home automation: smart appliances, automated security, thermoregulation, surveillance, and energy management.
- Smart cities: energy efficiency, reduced pollution, improved infrastructure, and traffic management.
- Pet care: activity tracking, medical observation, at-home monitoring, and calorie intake trackers.
Examples of Internet of Things
Currently, any physical object can become a part of the IoT network. The addition of a computer chip will make any device or process smart.
Here are some IoT devices examples:
- smart light bulbs,
- fitness trackers,
- dog collars,
- jet engines,
- motion detectors,
- home security,
- domestic appliances,
- driverless cars, and many more.