Internet of things is a collective term used for connection of several devices (which are non-typical) to the internet which provides sharing and generating data without human intervention. It was coined by a British technologist in 1999 for describing a network which connects people and the objects around them as well.

Motor vehicles, kitchen, and home appliances, medical instruments, etc. are the nontypical computing and analytical devices which are connected through the IoT. Mobile phones, computers, and tablets don’t come with this list. It is a growing set up which is estimated to be engaging 24 million IoT devices by the end of 2020 by Business Insider’s research. This is approximately thrice the number of IoT devices today which is fairly because of the Machine to Machine (M2M) communication technology.

  • What Basically Is IoT?

It is a network which allows connection of electronic devices with the internet to exchange data by using embedded sensors. These devices can use diverse media. By the introduction of variety of access technologies now each device has the option to connect to network very easily, and efficiently. Each device can use minimalistic networking interfaces and stacks to make communication possible at such a small level. Devices themselves can also be diverse, from the small to big, from weak to powerful, but limited by the creators and developer’s imagination.

 

  • What Are The Devices?

The devices linked with IoT are a standalone device which can be connected to the internet and has a monitor system to be governed by any distant location. There are scenarios in which even the devices act independent from any distant location. They can form adhoc networks, and can participate in sworms etc. They can have technology stacks of their own, and they can also generate and consume services.

  • Who can Use This System?

Anyone can use this system; from a trader to the consumer, an ordinary person to governmental institutes, everyone can get benefited from it. Since devices can interface with any human or non-human entity, they have the power to orchestrate services themselves as well. If coupled with Artificial Intelligence, they can introduce features which makes it possible to be used in highly contextual environments as well. There are security issues associated with the usage of the devices as well. If hackers tap into the interfaces and stacks of these devices, they can do harm to those who are actually using it. This harm is unimaginable as is their legal usage.

  • IOT- The Bigger Reality

It is a network which enhances a business, set up, consumer, and government to monitor their IoT devices which are usually gateways, data storage devices, security devices, dashboards and analytical tools. The hardware which is used for IoT device is upgraded with sensors and gears which make the data sharing and exchange possible. ATM’s are considered as the earliest IoT devices which introduced online services back in 1974.

The network, the internet, is required to transmit the selected data. The protocol set to make this process happen monitored even from distance which makes this linkage secure and reliable.  These devices can be controlled from computer, tablet, mobile phone, manual remotes, etc.

At this point, the huge amount of million dollars is floating into IoT solutions covers all the parts of it e.g.  hardware, system, data storage, etc. McKinsey Global Institute predicted IoT to be generating $11 trillion by 2025 which is only a few years ahead.  There are many companies linked to IoT which includes Amazon, Google, At & T, Cisco, IBM, Hitachi, Honeywell, Comcast and many more. The platforms suggested by these companies include Amazon web services, IMB’s watson, Cisco IoT cloud connect, Oracle integrated cloud, Microsoft Azure and others. Privacy is secured in IoT setup which attracts more people in it. These characteristics inspire various business setups to take up IoT system even for daily life devices e.g. autopilot cars.

IoT is an emerging set up for solving technical, social and economic matters. It ensures good seller-consumer relations, fair trade, secure devices, industrial utility and many of the everyday objects to be revolutionized. For the next five years, $6 trillion are to be spent on IoT solutions which will majorly be offered by business firms to lower the operational costs, increase and expand the productivity of their business. It will eventually decide the fate of the common electronic devices.