The IoT or the Internet of Things is a trending topic since its inception. However, the non-technological masses are often unaware of the term, despite making use of the technology in their daily lives.
Take for example, the remote door lock in your home, surveillance cameras that operate via apps installed in your smartphone or your favorite smart home assistant aka Alexa. These are all created via IoT and does not require any inter-human or human-to-machine interaction.
Simply put, the Internet of Things refers to the billions of devices that are connected to the internet and allow the users to either control or receive data about that specific device from our smartphone or computer.
Is IoT big?
Yes, the Internet of Things is big and getting bigger every day. In fact, analyst expect the technology to grow by $457 billion globally by the end of 2020.
Technology experts also expect industries such as healthcare, transportation, utilities, agriculture, energy, manufacturing, and smart cities to seek the most opportunities in the IoT sector.
What are the advantages of incorporating IoT?
There are several benefits of IoT for business. The biggest advantage is the seamless communication. Because of IoT, physical devices are more connected to each other without putting in the extra effort.
Other benefits include:
- Enhanced automation
- Better monitoring
- Saving of time
- Saving money and resource
And above all, the use of IoT improves our quality of life and gives us more comfort, convenience, and management.
In the Infographic below, let’s take a detailed look at some of the statistics related to the Internet of Things and the predictions for the technology in the coming years.
Infographic by: www.wolkabout.com