8 November 2019- The past two decades have experienced an exclusive progression of Internet of Things (IoT). IoT makes the whole communication system easier through the use of sensor devices, vehicles, buildings, network connectivity, and exchange of data.
Today the internet is the smartest brain available but without senses. Another interesting update came along with machine-to-machine (M2M) communication, which enables both the wired and wireless device system to seamlessly communicate with other devices. Because of IoT your machine can sense things and sometimes can read your mind too!
Today the digital interaction has become an integral part of most people's life. Small to large businesses now can communicate socially with IoT, cloud, artificial intelligence (AI), machine learning, and more. Work-life has become easier and smarter than ever before.
With IoT, the collection and exchange of data are now easier among multiple industry sectors. It can manage the traffic flow, tell the weather forecast, show pollution level, improve health conditions with useful tips and sensors and many more. According to statistical reports, by the end of 2019 the IoT market is expected to grow more than 212 billion U.S dollar, which is double in just two years, from 100 billons in 2017.
IoT connects nearly 5.7 million devices every day to each other, and it can be stretched beyond more depending on the ecosystem. The IT-driven productivity growth affects companies and their customers together with the world of economy at the same time. As a new business model many governments have started using IoT in order to come up with effective business models.
The concept of a Smart nation has started with the growing technology of IoT. The government now shifting every sector to digital with the help of updated technologies, from bank to health, transport, manufacturing, education and every vast to micro sectors are going digital. It helps to monitor the performance of the sectors with the utmost precision.
IoT needs to be incorporated in every business to make it more progressive as it will help in increasing efficiency and scale up the overall productivity. The fundamental approach of IoT is time-saving and smart that is why it is accepted among all.
In transport, water, environment, health, and education, there are endless examples of smart applications and programs where IoT is the main central connecting element between government and businesses. With sensors mounted on roadside lamp posts, the government can measure the environmental pollution data and how to resolve the problems.
A GPS device can show you the distance between your home to your next destination; you can also get traffic updates time to time. Smart meters can measure energy consumption; sensors can detect the volume of garbage in the bins; it can check the proportion of materials in the manufacturing industries.
IoT has now extended its services to the new business models which can redefine and improve the dimension of urbanization, one of such examples is the rented services, where you can rent almost everything to fulfil your need, from cars to dresses to friends everything is now available on rent!
The government now can manage a nationwide system with an upgraded communication application. With the help of IoT, every system is shifting to the auto mode for smart and smooth running. Still there are vast areas of improvement in every sector; IoT has a long way to go in order to bridge the gap between virtual space with the tangible world. The whole world is looking forward to the upcoming updates in different sectors of IoT.
Sudipto is a Senior Content Developer at IoT Avenue who helped to build the content of the site along with several other sites with his compassionate SEO driven content. He is also a HubSpot, certified Content Marketer. He brings five years of experience to his current role, where he is dedicated to developing the content of different websites.
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