“THE NEW ERA OF INTERNET IS HERE” – IoT
An IoT system consists of devices (things) that communicate with other devices, applications, and services that use a variety of protocols, and that expose application programming interfaces (APIs) to access data. An IoT system works across the Internet. Devices range from basic individual sensors that are directly connected to the Internet or that are connected via some form of simple gateway, to more powerful, and sophisticated processing nodes capable of autonomous processing. In a simple way, “IoT is the concept of establishing a connection among different devices and communicating with them over the internet using a mobile app or web browser”.
IoT technologies can improve the quality of life by making everyday life more comfortable, simple, convenient and fast while increasing productivity.
The Internet of Things (IoT) has the power to change our world. IoT will play an important role in the future and there is expected to be a significant amount of cash flowing through the market in the up-coming years. Over half of major new business processes and systems will incorporate IoT elements by 2020. The impact on consumers’ lives and corporate business models is rapidly increasing as the cost of instrumenting physical things with sensors and connecting them to other things devices, systems and people continues to drop.
With Cisco’s venture capital arm, Cisco Investments infusing more than $150 million globally in IoT startups and validating an optimistic stat of IoT industry reaching a market size of $14.4 trillion market by 2022.
5 reasons to learn the IoT:
- Due to Internet of Things, jobs in the IT industry are projected to grow by 50 percent before 2020. – Cisco
- One in five developers is targeting IoT for upcoming projects. – Evans Data
- IoT projects will take twice as long to complete and firms are finding it difficult to source long-term staff for the jobs. – Gartner
- Global demand for IoT developers stand at 4.5 million by the year 2020 – Accenture
- India will have 3 million mobile app developers by 2017 and most them will focus on IoT apps and innovations. – Convergence Catalyst
Nearly half of companies are using IoT technologies today to monitor their supply chains 45% and 47% track customers themselves via apps. One in eight has begun tracking customers through the digital devices that they wear such as digital wristbands and watches. A quarter of companies have digital cameras and sensors tracking the premises in which they do business with customers – i.e., monitoring the customer experience.
Indian IoT market size is expected to increase about 7 times—from $1.3 billion last year to $1 trillion by 2025
From Business Insider Intelligence By 2020….
- 34 billion devices connected to internet, up from 10 billion in 2015
- $6trillion will be spent on IoT solutions over the next five years
- Business will be the top adapter of IoT solutions
Different fields using IoT are Agriculture, Healthcare, Retail, Transportation, Energy, Manufacturing.
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