What is the full form of IoT

IoT: Internet of Things

IoT stands for Internet of Things. It refers to the connectivity of various objects of physical nature and their network such as vehicles, buildings, electronic devices, etc., connected with each other. These appliances are manufactured with factory set software, attached sensors, and other technologies in order to exchange and connect data to other devices. The internet network allows them to interact, collect and exchange data. The connected objects or devices range from regular ordinary households to complicated industrial tools.

The convergence of various technologies has led to the evolution of these things. The enhancement of real-time analytics, commodity sensors, machine learning and embedded system have developed a pathway for the evolution of the Internet of Things.

It is the smart home devices and appliances which are nowadays the products which are similar to the Internet of Things technology, especially in the consumer market. These appliances include thermostats, cameras, lighting fixtures, home security systems, etc. They can be controlled via devices from distance and support more than one ecosystem. Nowadays, the Internet of Things technology is also widely used in healthcare systems.

Importance of the Internet of Things

In the 21st century, the Internet of Things technology has gained its status as one of the most used and important technologies. Nowadays, it has made it possible to connect our everyday objects to the internet connective devices, such as kitchen appliances, cars, thermostats, and baby monitors. This helps in seamless communication between people, methodologies and objects. In this super active and hypo-connected World, digital systems can record, monitor and adjust, the use, and interaction between the IoT-connected objects. Thus, there is cooperation established between the physical world and the digital world.

What Technologies Have made IoT Possible?

1. Accessible in low cost and low power requirements: - The accessibility to low-cost and low-power sensor technology, along with the availability of affordable and reliable sensors is making possible the use of IoT technology on a large scale.
2. Easily to connect:- The idea of this technology has been in existence for a long time, but the number of host network protocols on the internet has made it possible to get easy to connect sensors to the cloud for efficient data transfer.
3. Numerous cloud platforms: - The number of cloud platforms is increasing and this enables businesses and consumers to get accessibility to the infrastructure needed.
4. Machine learning and analytics: - The access to a variety and a huge number of data stored in the cloud along with the advancement in machine learning and analytics, has extended the boundaries of IoT technology.
5. Conversational artificial intelligence (AI):- Natural - language processing (NLP) is brought to many IoT devices, such as Alexa, Siri, through advances in the neural network. This has made the devices appealing, affordable, and viable for household use.

Industrial Internet of Things Technology

As the words suggest, it simply means the use of technology for industrial purposes. This is done especially regarding the instrumentation and control of sensors and devices able to engage with cloud technologies. Nowadays, to achieve wireless automation and control, industries are using machine-to-machine communication (M2M) technology. The following are some common uses for IoT:

1. Smart manufacturing
2. Preventive and predictive maintenance and connected assets
3. Smart power grids
4. Smart cities
5. Connected logistics
6. Digital supply chains
7. IoT used to unlock business value

Nowadays, IoT is used more widely in the market. There is huge capitalization by the companies. Companies capitalize on the tremendous business value they can offer. These benefits include:

1. Data-driven insights can be concluded from IoT data to help manage the data more efficiently.
2. Productivity and efficiency of business operations can be increased
3. New business models and revenue streams can be created
4. The physical business world is seamlessly and easily connected to the digital world to drive quick time to value.

How IoT applications are deployed:

The most popular applications and what functions they perform are as follows:

1. Newer efficiencies can be formulated through machine monitoring and product-quality monitoring in manufacturing.
2. Physical assets with improved tracking and ring-fencing are possible.
3. Human health analytics and external environmental conditions can be monitored using wearables.
4. Existing processes can be brought up to drive efficiencies and new possibilities.
5. Changes can be planned and executed in the business process.

What Industries Can Benefit From IoT?

Those organizations which would benefit from using sensor devices in their business processes or are best suited for IoT are listed below:

1. Manufacturing
2. Automotive
3. Transportation and Logistics
4. Retail
5. Public Sector
6. Healthcare
7. General safety across all industries