What about Internet of Things in 2020?

What is Internet of Things (IoT)

In the broadest sense, the term IoT encompasses everything connected to the internet, but it is increasingly being used to define objects that “talk” to each other. Simply, the Internet of Things is made up of devices – from simple sensors to smartphones and wearables – connected together

By combining these connected devices with automated systems, it is possible to “gather information, analyse it and create an action” to help someone with a particular task, or learn from a process.

What are the benefits of IoT in business?

The benefits of the IoT for business depend on the particular implementation; agility and efficiency are usually top considerations. The idea is that enterprises should have access to more data about their own products and their own internal systems, and a greater ability to make changes as a result.

Manufacturers are adding sensors to the components of their products so that they can transmit data back about how they are performing. This can help companies spot when a component is likely to fail and to swap it out before it causes damage. Companies can also use the data generated by these sensors to make their systems and their supply chains more efficient, because they will have much more accurate data about what’s really going on.

Exponential Growth

IoT is big and gets bigger every year. There are already more connected things than people in the world. It is predicted that in total there will be more than 40 billion connected IoT devices by 2025.