Introduction of IOT
The Internet of Things (IoT) refers to the network
of interconnected devices that communicate and
share data with each other over the internet. They
able to exchange real time data with other
connected devices and systems over networks.
It allows objects to be sensed and controlled
remotely across existing network infrastructure,
creating opportunities for more direct integration
between the physical world and computer-based
systems, and resulting in improved efficiency,
accuracy and economic benefit
These devices collect useful data with the help of
various existing technologies and then
autonomously flow the data between other devices.
History
By the mid-1990s the Internet extended those capabilities globally, and researchers and
technologists began exploring ways that humans and machines could better connect. In 1997
British technologist Kevin Ashton, cofounder of the Auto-ID Center at MIT, began exploring a
technology framework, radio-frequency identification (RFID), that would allow physical
devices to connect via microchips and wireless signals, and it was in a speech in 1999 that
Ashton coined the phrase “the Internet of Things”. Within a few years smartphones, cloud
computing, advancements in processing power, and improved software algorithms had created a
framework for collecting, storing, processing, and sharing data in a more robust way. At the
same time, sophisticated sensors appeared that could measure motion, temperature, moisture
levels, wind direction, sound, light, images, vibrations, and numerous other conditions—along
with the ability to pinpoint a person or a device through geolocation.
Technologies of IOT
o Sensors and actuators: Sensors are devices that can detect
changes in the environment, such as temperature, light, motion.
Actuators are devices that can cause physical changes in the
environment, such as opening or closing a valve or turning on a
motor.
o Cloud computing: Cloud computing platforms provide the
infrastructure and tools that are needed to store and analyze this
data, as well as to build and deploy IoT applications.
o Big data analytics: To make sense of the vast amounts of data
generated by IoT devices, need to use advanced analytics tools to
extract insights and identify patterns. These tools can
include machine learning algorithms, data visualization tools
and predictive analytics models.
o Connectivity technologies: There are several connectivity
technologies that are used in IoT, including wifi, Bluetooth,
cellular, Zigbee, and LoRaWAN
Revolutionize the Services
Industry
1. Operational Efficiency:
A. Asset Management: Businesses can track the location and condition of assets in real-time
B. Energy Management: IoT devices can monitor and optimize energy usage in buildings, reducing costs
and improving sustainability.
2. Improved Communication and Coordination:
C. Real Time Update: Service providers can use IoT to offer real-time updates to customers
D. Integrated Systems: IoT enables different systems to communicate with each other, improving
coordination.
3. Enhanced Safety and Security
E. Surveillance: IoT devices such as smart cameras and sensors enhance security by providing real-time
monitoring and alerts for any unusual activity.
F. Emergency Response: IoT can facilitate quicker emergency responses by alerting relevant services
immediately when issues arise, such as a fire or a security breach
4. Data-Driven Decision Making:
a) Analytics: : IoT devices generate a wealth of data that can be analyzed to gain insights into
customer behaviour, operational efficiency, and market trends.
b) Performance Monitoring: Service providers can use IoT to monitor performance metrics and
identify areas for improvement, leading to better service delivery and customer satisfaction.
5. Enhanced Customer Interaction:
c) Smart Interactions: In retail, IoT-enabled devices can interact with customers to offer tailored
promotions or assistance based on their in-store behaviour.
d) Feedback Collection: IoT can facilitate real-time feedback collection through devices like smart
kiosks, helping businesses understand and address customer needs promptly.
Economic potential of IoT
o The potential value of IoT is large and growing. By 2030, The estimation it could
amount to up to $12.5 trillion globally. That includes the value captured by consumers
and customers of IoT products and services.
o The potential economic value of IoT varies by usage context. IoT applications in
factories and in human health contexts represent outsize shares of this total. IoT in
factories alone could generate up to $3.3 trillion by 2030, or just over a quarter of the
total value potential. IoT economic impact in human health settings could reach about
one sixth of the total estimated value.
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