UNLOCKING THE POTENTIAL OF IOT

The Internet of Things (IoT) is growing rapidly, as more and more devices become connected each year. IoT is powering many areas of our lives – from lightbulbs, wearable tech, to the creation of complex Smart Cities – automating day-to-day processes.

Besides consumer advances, IoT is becoming an essential component of successful and cost-effective business transformation.

Given the consistent growth of IoT, Business Wire predicts that the global IoT market will reach $1.1 trillion in revenue by 2024, with 80 billion connected devices.

How are we using IoT in our daily lives? And where do we expect it to take us looking forward?

What is IoT?

IoT is the connection of multiple appliances/objects to each other and the internet, which are monitored remotely. These devices are interconnected and track and receive data, which is then processed in the cloud.

A smart home is an example of IoT – appliances such as the thermostat, doorbell and security system can sense their surroundings and interact with one another, which can be monitored over a mobile app.

This involves complex communication between devices and accurate processing of data. Sensing devices are used to monitor things such as temperature, humidity and water level.

IoT in the world

Complex uses of IoT already exist in today’s world. Amazon’s fully automated supermarket where you can “just walk out” uses IoT technology to fully automate the whole shopping experience. You scan a barcode when you walk in and then there is no need to scan or pay for any items.

Smart Cities are being created across the globe, where IoT tech is used to monitor everything from traffic, recycling and energy use. Citizens interact with a smart city through their smartphones, connected cars and homes. The smart city can do things such as cut costs of energy, improve sustainability and manage traffic flows.

Like with many industries, the Covid pandemic highlighted the true potential of the IoT, as it was used for things such as enabling remote operations to manage distancing policies.

One example of this is the NFL, who used wearable connected sensors to manage the safe return of players and staff. Connected through IoT, these sensors provided real-time data on the movements of everyone in the stadium – meaning if someone tested positive for COVID-19, the data could determine who needed to isolate.

Potential problems

As with all growing technologies, there will always be potential problems and setbacks. IoT relies on a speedy and reliable connection as it often analyses data in real-time, meaning network issues can impact how well IoT performs.

As more and more devices are connected, some networks are unable to manage the increased traffic. The ability to scale as demand grows will be essential if businesses want to continue to digitally transform.

Perhaps the most obvious problem is the security issues that come with numerous connected devices. Poorly secured IoT devices are a common target of hackers, as one unsecured device can act as a portal to the whole network.

Organisations can manage this by delivering security functions through the cloud, to ensure that all devices will receive the same level of security.

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Looking forward, it’s clear that the potential of IoT is exponential. Smart living and smart cities are already embedded in society, and will only continue to grow.

Where else do you see IoT being utilized in the future?

written by Evangeline Hunt