Internet of Things (IoT) – Essential IoT Business Guide
The Internet of Things (IoT) is changing the way we live, work, travel and do business. It is even the basis for the new industrial transformation, namely Industry 4.0, and is the key to the digital transformation of organizations, cities and society as a whole. There are enough reasons to understand the essence of the Internet of Things.
What is the Internet of Things, also known as IoT? Many definitions can also be found below. But let’s start simple. Look at it this way: People can use devices like smartphones and computers to connect to digital networks and the Internet in order to share information, chat, make purchases, and more.
The Internet of Things essentially enables us to connect “things” to the Internet (and networks using Internet technology). These things or items can exchange information between them and transmit data to other devices and systems. They can usually receive data as well. information they share can be about the objects they are attached to and the environment they are in (with sensors of various shapes providing different parameters). Smart devices and machines can also share information about their internal state. So instead of playing a game or buying online, they capture data, share the data, and based on the exact thing, they can act on the data they receive. In other words: physical objects and many objects far exceed humans.
IoT deals with embedded technologies that enable them to do all of these things (hence often being called “smart”), or rather “dumb” but need to be equipped/tagged to connect. IoT is the collective name for what these connected things are , how they communicate and transfer data, the technology that enables them to do so, and the reasons/goals for achieving this.
The Internet of Things is a network of physical objects containing embedded technology to communicate and sense or interact with internal states or the external environment (Gartner’s definition). The Internet of Things starts with the infrastructure of connected things, but its benefits and risks are primarily related to the network technologies, systems and applications based on this basic layer. Theoretically, anything can be connected to the Internet using IoT technology: physical objects and living things, including animals and people as “living things.” All things or connected components of more complex physical objects that can be uniquely identified and addressed through the IoT. Examples include consumer-facing devices such as wearables and smart home solutions (Consumer IoT), connected devices in enterprises (Enterprise IoT), and industrial assets such as machines, robots and even workers in smart factories and industrial facilities (Industrial IoT, a fundamental component of Industry 4.0).
The question is not what you can connect to, but why you do it: purpose, result. And there are a lot of potential targets here, which identify the things you want to connect to so that you can capture data from them (and send data to, from, and/or to them). This is why you often see distinctions between Industrial IoT, Consumer IoT and various technical terms. Therefore, IoT is an umbrella term with many use cases, technologies, standards, and applications. And , it’s part of a larger reality with more technology. Things and data are the starting point and essence of what the Internet of Things means and means. IoT devices and assets are equipped with electronics such as sensors and actuators, connecting/communicating electronics and software to capture, filter and exchange data about themselves, their status and their environment.
The connection of IoT “things” and the use of IoT data can provide a variety of improvements and innovations for consumers, enterprises, healthcare, mobility, cities and life in society. Potential goals of IoT are generally divided into IoT use cases: Reasons for IoT deployment. Examples: health monitoring, asset tracking, environmental monitoring, predictive maintenance and home automation. There are hundreds of IoT use cases, depending on the industry and/or application type. Some IoT use cases exist across industries, while others are more vertical. For example: asset tracking applications are common to know where pets, the elderly, and children are at any time. But it could also mean tracking containers on a giant cargo ship. Same basic principles, differences in technology and environment.
The World Information Organization predicts that global Internet of Things (IoT) spending will exceed the US$1.0 trillion mark in 2022 and reach US$1.1 trillion in 2023 (IDC)
IoT is a significant driver of customer-facing innovation, data-driven optimization and automation, digital transformation, R&D, and entirely new applications, business models, and revenue streams across all domains. The Internet of Things is the logical next step in the development of the Internet and is the continuation of M2M (machine to machine) networks and technologies, establishing and expanding M2M, mobile technology, RFID and other technologies.
The Internet of Things not only covers these roots but extends much further, becoming increasingly popular due to a variety of factors, including lower sensor costs and supporting technologies and networks. The Internet of Things merges the industrial and commercial sectors, bringing together information technology and operational technology (IT and OT), and provides solutions for industrial transformation (Industry 4.0) and Industrial IoT or IIoT, the largest component of IoT applications and technologies. A range of use cases contributed. invest. Key areas (industries and use cases) for IoT investment includes manufacturing operations, transportation, smart grid technology, smart buildings, and increasingly consumer IoT, smart home automation, and retail.
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