What is Internet of Things (IoT) ?






Ø  The phrase Internet of Things (IoT) was first coined in year 1999 by Kevin Ashton, cofounder and executive director of the Auto-ID Centre at MIT.
Ø  The concept is to connect all the devices through the internet, so they will be able to communicate with each other. This includes everything from cell phones, cameras, washing machine, lamps, tv, wearable devices and almost everything.
                                                                                    (or)
Ø  The Internet of Things is a giant network of Physical devices, Vehicles, Buildings and so on embedded with electronics, software, sensors and network connectivity that enable these objects to collect and transmit data via the Internet. It has not only the potential to impact how we live but also how we work.
Ø  The first appliance connected to the internet was a coke vending machine at Carnegie Melon University in the late 1980’s. Developers could easily check the status of the machine.
Ø  IoT certainly opens the door to lot of opportunities but also to many challenges (i.e) Security, The risk of the connected devices being remains the same.
Ø  Devices connected to the internet are at present facing a major loophole as they are linked through unencrypted data.

Ø  By the year of 2020 a whopping 50 billion devices will be connected or linked with the IoT and 250K vehicles will be connected to the internet.
Ø  According to some estimates, The Internet of Things will add USD 10-15 trillion to global GDP in the next 20 years.
Ø  Cities will spend a whopping USD 41 Trillion in the next 20 years to upgrade their infrastructure to meet IoT requirements.
Ø  Companies such as Google and Samsung are investing in home devices and having a connected kitchen could save the food and beverage industry as much as 15% annually.


What will IoT Do?
Ø  It promises a high level of efficiency, and will reduce costs in our homes, workplaces and cities.
Ø  It will enhance data exchange and living standars.
Ø  More cities will become Smart.
Ø  Artificial Intelligence will really become a “Thing”.


Areas to boom….
Ø  Home and Office
Ø  Cities (Smart cities)
Ø  Mobility and Automotive
Ø  Healthcare (ehealth)
Ø  Agriculture
Ø  Manufacturing (IIoT, Industry 4.0)
Ø  Global Trade and Supply chain
Ø  Energy


Bonus Facts -

·         The “Internet of Things” is a phrase that 87% of people haven’t heard of.
·         Back in 2008, there were already more objects connected to the Internet than people.

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