What is the Internet of Things (IoT)?
Have you heard the phrase "Internet of Things" or IoT, but have no idea what it is?
Well, you're in luck. I can help to explain it. The IoT refers to the connection of devices (other than typical devices such as computers, tablets and smartphones) to the Internet.
For example: watches, cameras, cars, kitchen and laundry appliances, and even heart monitors are all devices that have IoT capabilities. As the Internet of Things grows in the next few years, more devices will join that list.
IoT Predictions, Trends, and Market
It is expected that there will be more than 24 billion IoT devices on Earth by 2020. That's approximately four devices for every human being on the planet.
As we approach that point, $6 billion will flow into IoT solutions, including application development, device hardware, system integration, data storage, security, and connectivity. But that will be money well spent, as those investments will generate $13 trillion by 2025.
Who will reap these benefits? There are three major entities that will use IoT ecosystems: consumers, governments, and businesses.
IoT Industries
Several environments within the three groups of consumers, governments, and ecosystems will benefit from the IoT. These include:
- Manufacturing
- Transportation
- Defense
- Agriculture
- Infrastructure
- Retail
- Logistics
- Banks
- Oil, gas, and mining
- Insurance
- Connected Home
- Food Services
- Utilities
- Hospitality
- Healthcare
- Smart Buildings
One IoT device connects to another to transmit information using Internet transfer protocols. IoT platforms serve as the bridge between the devices' sensors and the data networks.
The following are some of the top IoT platforms on the market today:
- Amazon Web Services
- Microsoft Azure
- ThingWorx IoT Platform
- IBM's Watson
- Cisco IoT Cloud Connect
- Salesforce IoT Cloud
- Oracle Integrated Cloud
- GE Predix
IoT Security & Privacy
As devices become more connected thanks to the IoT, security and privacy have become the primary concern among consumers and businesses. In fact, the protection of sensitive data ranked as the top concern (at 36% of those polled) among enterprises, according to the 2016 Vormetric Data Threat Report.
Cyber attacks are also a growing threat as more connected devices pop up around the globe. Hackers could penetrate connected cars, critical infrastructure, and even people's homes. As a result, several tech companies are focusing on cyber security in order to secure the privacy and safety of all this data.
This of course makes sense as hackers tend to target the things that can provide the most convenience and ease of use for the average person. While the list of IoT items will continue to grow and wow consumers, we should not allow these items to make lose control of our security and privacy. We must keep in mind that there should be a level of security even if it means sacrificing convenience.
How the Internet of Things is Improving Lives to Transform the World:
http://www.businessinsider.com/the-internet-of-things-2017-report-2017-1