ABC’s of Internet of Things in Numbers and Examples
June 23rd, 2016
Internet of Things (IoT) revolution is gaining speed and this is something that already is influencing our lives, our workplaces, and our entertainment in a million various ways, both small and big. Besides a multitude of solutions that exist today, the industry’s potential is even bigger.
From agriculture to warfare, from retail to medical services, every part of the human activity will experience the growing abilities of businesses’, governments’ and users’ to connect and manage their environment. We have collected a few facts and figures about the IoT industry to see what to expect in the nearest future.
This tech will allow consumers to try on clothes in a virtual, digital mode, enriching their experience and reducing the number of returns of purchases in the store.
Smart Assembly Lines
Sensors on the assembly will detect tiny defects, indicating the wear of critical equipment and plan the maintenance works ahead, so the production services suffer the least.
Agricultural machinery equipped with GPS and IoT technologies will soon be able to handle planting, fertilizing, and harvesting without any human intervention. The combine operator, in the meantime, can sit in the shadow and read a newspaper.
Active people can already share data about their lifestyle and physical performance using the fitness trackers. Use these also to help your doctor make a right decision in case you need medical treatment or something.
It is not surprising that the Internet of Things has been called the “Next Industrial Revolution.” The trend is so large and global that it is almost impossible to describe all spheres of its application.
Here are the sectors of the economy and business that expect a significant breakthrough due to new technologies: agriculture, connected and “smart” homes, defense, financial services, healthcare, food, infrastructure, insurance, logistics, manufacturing, oil, gas, and mining, retail, transportation, connected cars, and municipal sector.
Business Insider shared a research about the IoT numbers and we present you a few figures from it:
The second highest interest to IoT technology will be paid by government authorities and institutions, while consumers will take third place in the adoption of the Internet of Things.
By 2020, the number of IoT-devices, connected to the Internet, will triple from 10 billion today to 34 billion. The number of IoT-devices will exceed the number of traditional digital devices (smartphones, tablets, smartwatches, etc.).
During the next five years, IoT solutions will eat up nearly $6 trillion.
The main consumer of IoT-solutions will be business, for which the technology offers to:
- Reduce operating costs
- Increase productivity
- Allow to enter new markets and develop new products
Since its inception, the Internet of Things technology was developing in the context of the industrial application. However, there were also individual consumer solutions such as various fitness bracelets, smartwatches, smart home technology, and other. Today consumer-oriented products appear almost daily on the market. These solutions are targeted less at the processes’ automation, but rather to improve the life of a common man.
For example, using one of these services, you can connect your car to a “smart” garage door, so it will open as soon as your car comes near. In turn, that device is connected to your “smart” house lock. The “smart” house lock connects to the “smart” thermostat, synchronized with the “smart” lighting system. The user can customize all of these devices, combining it all into one single interconnected system that makes one’s life a breeze.
Having analyzed the work of IoT-devices, the experts noted that consumers want the IoT-solutions that provide personalized service with the possibility of adjustment to different conditions.
The most active users are willing to buy and use technologies that make home environment more comfortable, pleasant, and “sensitive” to the owner’s needs without changing the traditional way of life. People prefer interfaces that blend in into the surroundings as opposed to screens. In other words, they don’t want to enter device instructions on their tablets or to tinker with settings using their smartphones. Instead, they want “live” services that anticipate their desires and react to them.
In the next edition, we’ll talk about business-oriented applications for IoT - keep an eye out for the updates!