It is already transforming our ways and will soon completely transform our lives. If current trends are anything to by, the Internet of Things (IoT) has a huge market all over the world. The Internet of Things (IoT) is destined to create a huge impact on every aspect of human life.
1. A Warm Welcome By The Tech Giants
Market gurus and pundits have been forecasting its bright future for a while now. Predictions aside, let us put the actual potential of this relatively new business phenomenon into perspective:
2. The Internet of Things Is The Future
Though still in early stages, the IoT is showing its worth and providing a glimpse of what to expect in years to come. For instance, a small sensor buried in your garden will alert you on your smartphone that one of your plants needs your attention. A switch in your home connected to the internet will help you open it through remote. Similarly, the chip in your skin will record your entire health record. Your physician can access this data online.
The IoT will enable you to connect a mini computer with a sensor and program it on your behalf. With the help of artificial intelligence, it will act as if it is alive and conscious of the environment. As the technology becomes more complex, it will allow you to tap into the future. This is just a glimpse into where the IoT will take your life in the near future and this is just the beginning.
4. Making Your Life Easy
The first phase of the IoT is already upon us. We’ve seen it working in a very rudimentary form but there is a lot to come. For instance, the Born Market in Barcelona, Spain, has sensors embedded into the parking lot. They relay information on empty parking slots in real-time through an app to would be parkers. Similarly, Siemens has just
5. The $6 Trillion Industry
At its core, the IoT can be termed as the penetration of the internet into every aspect of your life. The way you live, the things you do, the internet will be everywhere. From your home to car, workplace to moments with your family, the internet will always be around you. Start imagining to live with it, as it is destined to be your closest companion in years to come. No matter where you go and how you look at it, the internet of things is the talk of the town these days.
6. Welcomed By IT Giants
IT giants like Cisco, IBM, Microsoft and Google, Sun Micro Systems among others, have all geared up to welcome this change. Entrepreneurs will be the top subscribers of IoT and will spend over $ 6 trillion in the next five years. This translates to approximately 34 billion devices linked to the internet in the next five years. In simple term, this means that the IoT will leave your traditional devices such as smartphones, desktops and laptops and tablet PCs far behind.
7. Businesses Love the IoT
It is fact that businesses play a crucial role in improving the quality of our lives. For instance, the fashion industry helps us explore new trends in wardrobe and wearables. Similarly, appliance manufacturers provide cutting edge appliances to reduce human effort. The IoT will allow businesses to increase productivity, reduce development costs and improve user’s daily life. This will help them expanding product portfolio and explore new markets.
8. IoT and Governments
Considering its usefulness, many governments will consider using IOT for improving the quality of citizen’s lives. In fact, government may end up as the second largest users of IOT. For instance, the US and European governments are paving way to welcome the Internet of Things for future in a big way.
9. IoT and Consumers
Though the consumer segment may initially lag behind in adopting the IoT. However, considering how useful it is in different ways, they’ll invest in IOT ecosystems considerably. From your bank accounts to social security, everything will take benefit from Internet of Things in the near future.
10. Best Return On Investment (ROI)
Any businessman will urge the need to invest in a business that gives the best return on your investment. What better way to invest than in a technology that you’ll find everywhere in the near future? The IoT will be in your home, bedroom, office, playground, bank, and entertainment spots.
Suffice to say that the IoT is the definitive future of technology. No other business in the world will offer you a better return on investment.