Internet of Things (IOT)

By Santosh Varghese, General Manager of Digital Products and Services, Toshiba Gulf FZE

 

The Internet of Things (IOT) revolution is gaining momentum and will bring about a paradigm shift in the way we live and work. It’s a game changer that will impact our daily lives both big and small. It has already revolutionized our homes , businesses  and even our cities . IoT will be the  Industrial Revolution 2.0

 

By 2020 more than 30 billion devices will be connected to the Internet globally, that’s more than 4 devices for every human being on earth.

 

Initially Internet of things was available only on PC,  now it’s evolved into Internet of Everything that includes Tablets, smartphones, wearables like smartwatches ,smart homes ,smart appliances (internet connected refrigerators, oven , air conditioners, toasters ) and multiple other gadgets that will be connected to the Internet ,from Fashion to healthcare, from agriculture to manufacturing everything will be connected to control their environment .

 

What is IoT?

The IoT is a network of Things (Physical devices) that contain embedded technology to sense and interact with internal and external environment. IoT comprises of an ecosystem that includes devices, communication, application and data analysis.

 

Businesses and Government will be the largest adopters of IoT.  Market research estimates more than $6 trillion will be spent on IoT solutions over next five years.  Industries like manufacturing, finance and Banking services , Insurance ,Telecom , Retail, Energy and Utilities  are rapidly adopting IoT and are seeing a positive ROI on their IoT investment .

 

Game Changing IoT experiences by Businesses, governments and Consumers

·      Insurance companies are tracking driving habits using a smart driving recorder, future insurance premiums are based on the driving habits

·      In Healthcare doctors can remotely monitor their patients .People will share their lifestyle data from the fitness trackers in order for their doctors to offer better and timely  health care decisions

·      Retail stores are using beacons to track their customers buying patterns and push discount offers. Smart Mirrors will allow consumers to try out new dresses enhancing their shopping experience thereby minimizing the retail returns

·      Manufacturers are automating production through robots connect on the internet, Assembly line sensors detect drops in efficiency that indicate the machine’s wear and tear and schedule maintenance  downtime in response

·      Utility companies use smart meters that can remotely monitor their customers power usage and proactively take action to wisely use power and control wastage

·      Governments are automating their defense using drones and robots

·      Cities are getting connected and smarter and governments re focusing on new urban planning and demand for IoT devices

·      Smart Homes concept with smart appliances, Utilities management , connected home security devices are some examples of IoT adoption by consumers

 

 IoT :  Where is the Data Stored ?

Data created by the device is sent over the Internet to a central system or to the cloud that collects and organizes that data. These data is stored for ongoing use of that data for the future.

 

Adding to the potential data overload

Since we don't necessarily know today all the questions we might want to ask of our data in the future, it's best to retain all the detailed history perpetually. With this we will have the flexibility to answer any new questions we might ever think of, and as a bonus gain visibility over an ever-larger for the future.

 

ANALYZING THE DATA

Once data is stored, the next opportunity is to look for trends over time. Analyzing time-series data provides the opportunity for better decision making and also carry out automated tasks based on a certain set of conditions being met.

Analytics systems plays and important role in the IoT ecosystem. Cloud analytics and the recent trend of edge computing analytics helps the data captured to be analyzed for better decisionmaking .

 

What’s slowing down IoT ?

·      Current infrastructure cannot handle the internet traffic, unless new networks and technology are introduced , it will be a bottle neck

·      Current Cybersecurity protection is weak. Cybercriminals can steal sensitive data from consumers, business, and also governments

·      Hackers can also use IoT device to cause physical damage.

Huge Investments will be required to improve Connectivity, data storage, security, system integration to further enhance IoT implementation across various segment. Research indicates $6 Trillion will be investment on IoT solutions between 2015 to 2020

 

Related



Your email address will not be published. Required fields are marked *






SUBSCRIBE TO OUR NEWSLETTER