We are well on our way towards the age of automation, towards systems and machines which are truly ‘smart’. AI and Machine Learning are the terms making waves, but did you know that there are more machines connected to the internet than people? This number is actually poised to grow immensely. The moniker by which this phenomenon goes is ‘The Internet of Things’ and it is all set to transform every aspect of life on this planet.
The Internet of Things (IoT) describes a scenario in which inanimate ‘things’ or machines can broadcast data and connect to the internet or to a network. Objects, animals or people are fitted with devices, which are given unique identifiers and the capability to transfer pertinent data over a network. All this is achieved without human intervention. IoT springs from the convergence of wireless technologies, micro-electromechanical systems (MEMS) and the Internet.
When a ‘thing’ can participate in an IoT scenario, it is given the tag of being ‘smart’. To turn ordinary things or objects into ‘smart’ objects, one has to:
- Assign a unique identity to the object
- Give it the ability to communicate or to transmit data wirelessly
- Fit it with sensors
- Make it remotely controllable
‘Things’ can refer to a range of devices such as heart monitoring implants, transponders on farm animals or trees, built-in sensors in automobiles, etc. Micro-electronics are fitted to a device so each of these things is able to exchange messages with other things and networks. The broader aim is seamless communication, no matter who built the thing or device.
According to Gartner, by 2020, there will be 26 billion devices connected to the internet. Gartner further estimates that IoT products and services will generate revenue exceeding $300 billion in 2020. IDC on the other hand has forecast that the worldwide market for IoT solutions will grow to $7.1 trillion in 2020.
The applications of IoT range from building and home automation and monitoring, environmental monitoring, infrastructure management, industry, energy management, transport systems, urban area management, medical and healthcare systems, etc.
In short, we are looking at a transformational paradigm with massive industrial and consumer applications. There are developments such as parking assistants, irrigation and water management systems, machine sensors which help in the manufacturing process, and sensors which give us information about the quality of the air we are breathing. Home security, lighting solutions, smarter electronics all fall within the purview of IoT.
More IoT systems will be introduced for homes and businesses and as artificial intelligence capabilities grow, devices will increasingly begin to make decisions themselves. IoT players will need to integrate data from devices across industries and run services that benefit consumers and enterprises.
It’s a whole new world of opportunity, with endless applications and Dhi Technologies is working to make IoT a reality for all, by putting together a universal platform through which any set of devices (including our own) can be controlled and communicated with. This is an exciting time for us and we hope you join us as we work towards unveiling our solution in that most pivotal year – 2020!
What are your plans for IoT? Want to have a discussion with us? Leave us a comment. We’d love to have a chat with you.
