Top 10 Interesting Facts About IoT

IoT or Internet of Things is one of the smartest technologies for the 21st Century. It is a broad ecosystem of devices, gadgets, or mechanical objects, embedded with sensors and interconnected with the help of the Internet. This industry has been growing at a rapid pace, as more corporate ventures continue to invest their capital here.  This is how IoT is driving immense transformation in the year 2020.   

How does the Internet of Things work?

The main purpose of IoT is to transfer information and data over a network without any human intervention. Meaningful information is collected and actions are undertaken to enhance productivity and efficiency in work. IoT is driving the proliferation of multiple connected devices by almost 50 billion today. This way, it is taking the aspect of inter-connectivity to a completely new level. 

The functioning of IoT requires four major components.  

• Sensors
• Connectivity
• Data Processing
• User Interface

Well-enabled smart devices or mechanical gadgets are integrated with processors, communication hardware, or sensors that collect, and exchange information and data which they acquire and gather from their required environment and surroundings. These sensor data are gathered by connected to an IoT gateway and is stored in the cloud or either analyzed locally. 

At times, these devices also connect with the other related devices and then act on the information that is received.  The processing of the information is done by some kind of software. Finally, this information is conveyed or directed to the end-user through the medium of a user interface. This happens in the form of notifications, message alerts, emails, etc.  

Cloud storage is preferred so that the device does not face any crunch while retrieving and storing information. The networking, communication, and connectivity protocols are all connected to the web, largely relying on the IoT applications, which have been deployed.  

10 Interesting facts about IoT

The expansion of the Internet of Things is a fascinating spectacle to witness. In this hyper changing world of connectivity, IoT has helped us enter a brand-new digital era, efficiently changing the mode of work. 

The gathered data has become vital to businesses and organizations while the exchange of data has made real-time analysis possible. Hence, the results are productive and revenue-oriented.

Here are 10 interesting and extraordinary facts related to the element of IoT. 

1. IoT has been there for decades

The technique of internet-connected smart devices was first employed in 1982 by using a modified coke machine. Later, Kevin Ashton coined the term IoT in 1999 while in his service period at Procter & Gamble. Back then; this idea was also called “embedded internet” or “pervasive computing”. 

His main motive was to highlight this network of connectivity using physical objects, which people access daily.  Since the Internet was the hottest trend at that time, it gradually began to be addressed as “The Internet of Things”. 

Today, the bright future of IoT relies on the success of the internet; its brilliant architecture facilitating wide access to data and information.  

2. The players for IoT are big

Big companies have already started using the IoT technology. “Algo Engines” is a supreme organization specialized in industrial IoT. Altiux Innovations is another renowned Internet of Things company in India. IBM has structured a 200 Million Dollar worth headquarters in Munich dedicated entirely to Artificial Intelligence, Blockchain, and IoT. 

Microsoft has also announced their decision of taking over IoT by involving themselves in high-functioning platforms for connecting vehicles. Hitachi has reported 33 brand-new IoT oriented and specific solutions that will hit the market by the next year. 

3. Promises huge ROI

While almost 94% of the global businesses have adopted the IoT technology, they are also making simultaneous investments.  This has yielded extraordinary results for businesses and companies alike. The return on investment is also massive. Today, none of the businesses hesitates to invest money in IoT in the hope of earning huge profits. 

4. The growing wearable market

The market of the wearable is enlarging at a fast pace. These gadgets are inter-connected, attracting more customers and buyers regularly. They are also designed to collect data and information, providing users with interesting insights from time to time. 

5. The arrival of smart and automated driving

The fast advancement in technology has made possible the implementation of IoT in vehicles. These signal the arrival of Smart Cars in the market, where the element of IoT will be successfully inputted. 

It can be any kind of vehicle, a car, or even a two-wheeler driving on its own without any need for human-based assistance. 

6. Security

Security is one of the topmost priorities for companies using IoT applications and devices. Almost 59% of all the companies are encrypting data, which they are gathering from their customers. This data is stored in the IoT network following stringent measures. 

7. IoT in healthcare

Studies state that IoT is a bit of a paradox in the industry of healthcare and pharmaceuticals. However, the advantages are unlimited. 

The physician and the doctors can collect real-time data concerning the health of their patients. Consequently, upgraded treatment is provided to them.   

8. IoT for all ranges of device

While some probable layers of the IoT have no standards at all, most of the leading applications are integrated with competing standards that yield top-notch results.  Sometimes, the lack of standards for compatible connectivity hampers the level of product creation. This is why; experts are focusing on improving them. 

9. Smart cities own huge IoT shares

The global market of the Internet of Things is expanding massively. For smart cities, the share is around 28.6%.  Smart cities are also inviting smarter homes, which is a whopping 15.4%.   

10. Replacement

Tech enthusiast’s estimate that IoT based devices will very soon replace normal devices. This will increase operational efficiency and contribute to the growing economy of the Nation.