Posted on November 26, 2015
The future is here – the Internet of Things
We are living in the time of rapid technology growth, which doesn’t seem to think about stopping even for a second. Virtual and augmented realities, more and more capable 3D printers, new developments concerning AI, the Internet of Things etc. Sometimes it might be really hard to catch up with all the news. Well, in this article, I would like to take a look at the topic of “Internet of Things”, one of the most popular technology trend right now (and in the closest future, I bet). What is this phenomenon? How can it change our lives? What should we actually expect from it? You should find answers to these questions (and even more) in my latest article — The future is here – the Internet of Things.
Lately my friend, while happily procrastinating on his couch in the he was supposed to be shopping, started daydreaming and said — “How wonderful would it be if my fridge could do this horrible task for me”. The rest of our conversation is pretty much not worthy enough to be remembered, so I will skip it. Later on, I had this “enlightenment moment” — “Fridges can do shopping for you!”. I immediately called my friend and informed him about it. But what if the fridge could send a signal to his smartwatch, asking if grocery order should be placed? Well, that’s a good example of the Internet of Things purposes.
It’s all about the network of physical objects (fridges, watches, cars etc.), equipped with electronics, sensors and appropriate software, enabling the object to collect and exchange data about the user. Of course, IoT can also be used in many more ways, for example, heart monitors, traffic lights, tracking devices and so on.
Is that all?
You might say — “It sounds cool, but not really earth-shattering”. After the examples I have chosen, it would fair enough, but wait, there is more. Nowadays we can notice a trend to call things “smart”. We have wearables, smartphones etc. but the most interesting element of this observations for me are smart cities.
Trash cans can have smoke sensors that would alarm appropriate authorities in a case of fire, heart monitors can be connected with the nearest hospitals, smart cars can be connected with smart city grids etc. Possibilities are endless.
Is IoT the next big thing in technology? I think it is. If you are still not convinced, let’s talk some numbers. The Internet of Things, at the moment, has more than a billion connected devices and machines (worldwide). Organizations of all kinds use its features for their marketing, business processes and much more. According to the Verizon’s report, some of the best organizations, focusing on the usage of Internet of Things in their products and operations, should become up to 10% more profitable.
More numbers, thanks to the aforementioned report:
- By 2020, we should notice a rapid growth of IoT technology across the world. It should reach up to 5,4 billion connections (1,2 billion in 2014).
- Since 2014, Internet of Things businesses noted year over year revenue of 45%.
- 25% of people who bought a car said, that the connectivity features made their vehicle much more attractive at the time of purchase.
- 49% growth of year over year Internet of Things connections in the energy and utility sectors.
- 82% of organizations that implemented IoT have experienced an increase in efficiency.
- 49% of organizations that implemented IoT have experienced and increase in their product quality.
- 45% of organizations that implemented IoT have experienced and increase in their customer satisfaction.
- You can find more numbers in the Verizon’s report here.
As you can see, the Internet of Things is one of the hottest topics in IT industry right and is here to stay. If you want to keep up with the technology growth and make your business successful, I think that implementing IoT sooner or later will be a must. If you have any questions concerning the Internet of Things, don’t be afraid to ask us by mail or leave a comment in the comment’s section below.