Internet of Things (IoT): Introduction, Applications, and Future Scope

Today, the demand for Internet application development is very high. IoT is a major technology that allows us to produce various helpful internet applications.

Introduction to the Internet of Things

IoT is a network in which all physical objects are connected to the internet through network devices or routers and exchange data. IoT allows objects to be controlled remotely across existing network infrastructure. IoT is an intelligent technique that reduces human effort and easy access to physical devices. This technique also has an autonomous control feature, which any device can control without human interaction.

The above figure shows the connectivity of various devices in different fields with the Internet and the data exchange between them. It also represents the connectivity of the world through various existing technologies.

What are “Things”?

These devices gather valuable data with the help of various existing technologies and share that data between other devices. Examples include the Home Automation System, which uses Wi-Fi or Bluetooth to exchange data between multiple devices in the home

Historical Background

1982

In early 1982, the concept of a network of smart devices was discussed with a modified Coke machine. This machine was modified at Carnegie Mellon University and became the first Internet-connected appliance. It could report its inventory and whether newly loaded drinks were cold.

1994

In 1994, Reza Raji explained the idea of IoT as “small packets of data to a large set of nodes, to integrate and automate everything from home appliances to entire factories.” After that, many companies proposed solutions, like Microsoft’s at Work or Novell’s Nest. Bill Joy proposed device-to-device (D2D) communication as part of his “Six Webs” frameworks at the World Economic Forum at Davos in 1999.

1999

The Internet of Things first became popular in 1999. British entrepreneur Kevin Ashton first used the term while working at Auto-ID labs. In the present scenario, various devices are working on IoT, including near-field communication, barcode scanners, QR code scanners, and digital watermarking.

Application of the Internet of Things

The versatility of IoT has become very popular in recent years. There are many advantages to having a device based on IoT. Mckinsey Global Institute reports that the IoT business will reach 6.2 trillion in revenue by 2025. The question remains: what are IoT applications? What are the real-world applications and implementations?

I’ve tried to highlight a few prominent ones

Personal Home Automation System

The home automation system is a significant example.

Wemo Switch Smart Plug

The most valuable device for connecting home devices is a smart plug. It plugs into a regular outlet, accepts the power cable from any device, and can be turned on and off by hitting a button on your smartphone.

Enterprise

Many applications exist in the enterprise area, such as environmental monitoring systems and intelligent environments.

Nest Smart Thermostat

The Nest learns your family’s routines automatically and adjusts the temperature based on your activities to make your house more efficient. A mobile app also allows the user to edit temperature and schedules.

Utilities

Smart metering, smart grid, and water monitoring systems are the most valuable applications in various utility areas.

Energy Management

Advanced Metering Infrastructure is a primary example of this.

Medical and Health Care

Remote health monitoring and emergency notification systems are examples of IOT in the medical field.

Health Patch Health Monitor

It can be used for patients who can’t go to doctors, letting them get ECG, heart rate, respiratory rate, skin temperature, body posture, fall detection, and activity readings remotely.

Transportation

The electronic toll collection system is the most useful example in this area.

Large-scale deployment

Various large projects are ongoing around the world. Songdo (South Korea), the first fully wired Smart City, is near completion. Everything in this city is planned to be wired, connected, and turned into a data stream that an array of computers would monitor without any human interaction.

Other Examples

• Sino-Singapore Guangzhou Knowledge City: The Sino-Singapore Guangzhou Knowledge City’s work on improving air and water quality. In 2014, French company Sigfox commenced building an ultra-narrowband wireless data network in the San Francisco Bay area.
• New York Waterways: The one completed by New York Waterways in New York City connects all their vessels and allows them to be monitored 24/7.
• Google: A leader in IoT, particularly with its Nest line of smart home products.
• Cisco: Prominent in IoT solutions for networking and enterprise environments.
• IBM: Known for its Watson IoT platform, which integrates AI and IoT technologies​. 
• Connected Vehicles: By 2023, it was projected that nearly 70% of all new vehicles worldwide would be connected to the internet, emphasizing the growth of IoT in the automotive industry​. 
• Data Generation: By 2025, IoT devices are expected to generate 79.4 zettabytes of data, contributing significantly to the overall data landscape​. 

These are applications of the Internet of Things present in the market. This world will become a better place to live in, with more communication with everyone. In the near future, many devices will be connected to the Internet and provide great facilities to the world.

IoT Future Scope

• Global Spending

 Worldwide IoT spending surpassed $1 trillion in 2023 and is expected to continue growing, with a projected increase to $1.1 trillion​ (Exploding Topics)​​ (Comparitech)​.

• Revenue

 The IoT market is currently valued at approximately $1.39 trillion and is expected to grow to nearly $2.23 trillion by 2028, with a compound annual growth rate (CAGR) of 12.57%​ (Exploding Topics)​.

• Funding Update

The UK Government allocated £40,000,000 to research into the Internet of Things in its 2015 budget. The British Chancellor of the Exchequer, George Osborne, posited that the Internet of Things is the next stage of the information revolution and referenced the interconnectivity of everything from civil transport to healing devices to home appliances.

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Recent Trends For IoT

• Connected Vehicles: By 2023, it was projected that nearly 70% of all new vehicles worldwide would be connected to the internet, emphasizing the growth of IoT in the automotive industry​ (Review42)​.
• Data Generation: IoT devices are expected to generate 79.4 zettabytes of data by 2025, contributing significantly to the overall data landscape​ (Review42)​.
• Security: Security remains a critical issue, with significant breaches reported in the healthcare sector. Ensuring the security of IoT devices is paramount as the number of connected devices grows​ (Comparitech)​.

Highlight: Key Sectors and Applications

• Smart Cities: Smart city initiatives are significant, with 367 projects identified globally in 2018, mostly in Europe. These projects are expected to contribute significantly to global GDP by 2025​ (Review42)​.
• Healthcare: IoT in healthcare is notable for its use in vitals monitors, imaging systems, and respiratory devices. It’s estimated that IoT could save healthcare companies up to $100 billion annually by reducing inefficiencies​ (Comparitech)​.
• Industrial IoT (IIoT): This includes the use of connected machinery and automation systems. The manufacturing and industrial sectors are major investors in IoT technology, and industrial robots and automation​ have been significantly adopted (Comparitech)​.

IoT –  The New Revolution

When we look at today’s state of technologies, we get a clear indication of how IoT will be implemented globally shortly. Internet use is increasing daily. Commute and connectivity have become easier in the present scenario. In the future, the number of internet-connected devices will increase exponentially.

Although there are some issues in IoT, these issues can be removed in the near future. With such rapid growth, the day is pretty close, and we can decide on our dinner even before reaching home on the way.

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