What is the Internet of Things (IoT)?

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13 Jun 2018
What is the Internet of Things (IoT)?

What are the things in internet of things?

The Internet of Things, or IoT as it is known as, is a very new concept, but one that comes with a lot of promise. Internet of Things began as nothing more than an idea - an idea of an interconnected home. Then one thing led to another, and pretty soon, the Internet of Things became an opportunity that is today worth hundreds of billions of dollars, in such a short time.

How did the “Internet of Things” originate? The term itself is just 16 years old, but the concept has been around for longer, since way back in the 1970s. IoT was then known as “embedded internet” or “pervasive computing.”

Kevin Ashton, a supply chain manager at Proctor & Gamble gets credit for first using the term, “Internet of Things” in 1999. Ashton used the term to refer to a highly innovative new technology that he was working on called RFID. He wanted to get the attention of the senior management in his company, and what better way to do that than to call it the “Internet of Things”.

Remember - those were the days of the dot com boom when internet really rose to prominence and everything related to the internet became a hit with both the public and the investment community. So people started using the term and many magazine articles were written about the possibility of having devices connected to the internet, including one article in 2000 in the Forbes magazine by Chana Schoenberger which was simply titled, “Internet of Things”.

How Internet of things works?

Those are the major applications worth billions of dollars for which the concept of IoT will be used. For ordinary folks, Internet of Things means a smart egg tray that sends a message to your smartphone telling you just how many eggs you’ve got in the fridge. Or, a smart coffeemaker that will have a hot, steaming coffee ready for you the moment you wake up or come home after a busy day at the office. A smart thermostat that automatically adjusts the temperature in the room, depending on your preference - there are just so many applications of internet of things.

Almost every device or application out there today - from fitness apps to thermostats, from smart lights to self-driven cars - can join a much larger network, and be a part of the internet of things.

The Internet of Things has grown into an incredibly complex network of devices and machines. IoT’s phenomenal growth has been made possible only because of the massive improvements in technology. Every second, over 100 devices get connected to the Internet of Things.

The idea of IoT really gained prominence when Google got into the action. Google introduced a service called StreetView, that took 360 degree pictures from connected cameras and stored data from people’s Wi-Fi networks. It was seen as Google’s attempt to index the physical world just as it had indexed the internet. 

The Future of Internet of Thing

As far as the reach of the Internet of Things, today, there are over 12 billion “things” or devices are connected to the internet. This number will be expected to riseup to 26 times more connected things than people by 2020.

Eventually, experts believe that 99 percent of all devices on the planet - whether they are refrigerators, TV sets, automobiles, ships, or even something as simple as an egg tray, will be a part of the internet of things. And this means that in the future, there will be 1.5 trillion “things” that will form the internet of things - which will be in the multiples of the human population. 

The IOT market is expected to be worth an incredible $7 trillion by 2020. The Internet of Things will henceforth manage large fleets of vehicles, flights, trucks and ships. Also part of the Internet of Things will be industrial automation and other sophisticated industrial processes, security systems, oil and gas exploration and much more. 

According to Gartner, consumer applications will drive the number of connected things, while enterprise will account for most of the revenue. Internet of Thing adoption is growing with manufacturing and utilities estimated to have the largest installed base of Things by 2020.

The idea soon caught on, and pretty soon, Gartner wrote a major report on IoT. IoT was also the main theme at the most important internet conference held each year in Europe, the LeWeb. The high point was the 2014 Consumer Electronics Show (CES) in Las Vegas which exclusively focused on IoT.

Today, the Internet of Things is a part of the popular lexicon. It has truly captured the imagination of the public and holds a plenty of promise for the future. We hope you enjoyed this article. It has been brought to you by DoSpeedTest.com - the most accurate internet speed test checking tool.

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Last Modified: Wednesday 13 June 2018 02:47
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