Do you want to know that what is IoT? Your answer is here. A set of interconnected computer functions through the internet, creating global networks and global computing environments.
What is IoT?
IoT occurs in many forms — smart meters, smart cities, smart cars, smartphones, etc.
IoT benefits are numerous. The most obvious benefit of IoT is cost savings, in terms of energy and operational costs.
As an example, smart homes contribute to significant energy savings. Unlike old houses, smart homes are less insulated, so the heating and lighting in the home don’t need to be as efficient as they are in a traditional home.
The savings in energy costs are significant and start with energy savings, with solar power saving money on the electricity bills, to fewer fuel emissions. Building retrofitted homes can reduce by up to a half.
Additional benefits of IoT include improved maintenance of your home, fewer employee injuries, less product recalls, better transportation management, city living, etc.
Why is the Internet of Things (IoT) so important?
IoT is coming of age. Even though it was initially developed on a larger scale, in some parts of the world and the real world, IoT is starting to add more important services to our daily life.
Things like smart products, smart services, and IoT services that you can play with, in the real world, and the virtual world, are a small portion of the smart devices and applications on the market.
That percentage, however, will increase with time, because as the deployment of IoT increases, IoT consumption will increase.
Based on multiple forecasts, the deployment of IoT products is predicted to reach 70 million units by 2016, and then to reach over 700 million units by 2019, and now it constantly increases.
What are IoT applications?
There are different types of IoT applications, each of which has a specific use.
- Smart Homes
- Smart City
- Smart grids
- Industrial Internet
- Traffic monitoring
- Self-driven cars
- Smart supply management
The added use case for IoT
Artificial intelligence, or intelligent systems, is an added use case for IoT.
A smart home is connected to a range of smart appliances and devices, all run on different networks — a household computer, a traditional refrigerator, for example, could be connected with several other electronic devices.
So the end-user controls the whole home. Smart appliances work efficiently and at significant cost savings, and hence it’s good for the environment. We seem to be living in the age of smart homes.
What are the future trends with IoT?
During the last decade, there has been a huge growth in electronic appliances and electronics, especially those made of such thin materials as plastic and aluminum.
These devices tend to be relatively inexpensive, so by 2007, these products accounted for around 24% of all networked device shipments, but their market share has been rapidly increasing in the last couple of years.
In 2010, it was at 40%. And by 2020, they’re predicted to account for as much as 70% of all networked device shipments.
So smartphones are far from being fully networked, but as people begin to buy these more frequently, their numbers will also continue to increase.
A smart home provides its owner with less energy, less heating and more air conditioning capacity, and better aesthetic designs that transform a room from something uninviting to something that is inviting. An IoT-driven smart home will make the rooms more attractive as well.
There are many ways that IoT is on the rise today and tomorrow. Since it is best applied for industries, IoT seems to apply in multiple sectors, making it more than just a device, but a network of devices, one that will eventually create a global information society, which is the full state of a system’s being, for example, a smart home, a vehicle, a mobile application.