The Internet of things (IoT)

What is IoT?

According to Wikipedia, The Internet of things (IoT) describes physical objects (or groups of such objects) with sensors, processing ability, software, and other technologies that connect and exchange data with other devices and systems over the Internet or other communications networks. The Internet of things has been considered a misnomer because devices do not need to be connected to the public internet, they only need to be connected to a network and be individually addressable.

Here are some IoT statistics and key findings for 2022 shared by dataprot.net

• In 2021, there were more than 10 billion active IoT devices.
• It’s estimated that the number of active IoT devices will surpass 25.4 billion in 2030.
• By 2025, there will be 152,200 IoT devices connecting to the internet per minute.
• IoT solutions have the potential to generate $4-11 trillion in economic value by 2025.
• 83% of organizations have improved their efficiency by introducing IoT technology.
• It’s estimated that global IoT spending will total $15 trillion in the six-year period between 2019 and 2025.
• The consumer IoT market is estimated to reach $142 billion by 2026 at a CAGR of 17%.
• 94% of retailers agree that the benefits of implementing IoT outweigh the risk.
• The amount of data generated by IoT devices is expected to reach 73.1 ZB (zettabytes) by 2025.

How do IoT Devices Work?

Different IoT devices have different functions, but they all have similarities in terms of how they work. Firstly, IoT devices are physical objects that sense things going on in the physical world. They contain an integrated CPU, network adapter, and firmware, and are usually connected to a Dynamic Host Configuration Protocol server. It also requires an IP address to function over the network.

Most IoT devices are configured and managed through a software application. For example with smart lamps, you can control the lights with an app on your smartphone. Some other IoT devices in the market are smart mobiles, smart refrigerators, smartwatches, smart fire alarms, smart door locks, smart bicycles, medical sensors, fitness trackers, smart security systems, etc...

Advantages of IoT

The Internet of things facilitates several advantages in our daily lives. Some of its advantages are given below:

1. Minimize human effort: As IoT devices interact and communicate with each other, they can automate the tasks helping to improve the quality of a business’s services and reducing the need for human intervention.
2. Save time: By reducing the human effort, it saves a lot of our time. Saving time is one of the primary advantages of using the IoT platform.
3. Enhanced data collection: Information is easily accessible, even if we are far away from our actual location, and it is updated frequently in real-time. Hence these devices can access information from anywhere at any time on any device.
4. Improved security: If we have an interconnected system, it can assist in the smarter control of homes and cities through mobile phones. It enhances security and offers personal protection.
5. Efficient resource utilization: We can increase resource utilization and monitor natural resources by knowing the functionality and how each device works.
6. Reduced use of other electronic equipment: Electric devices are directly connected and can communicate with a controller computer, such as a mobile phone, resulting in efficient electricity use. Hence, there will be no unnecessary use of electrical equipment.
7. Use in traffic systems: Asset tracking, delivery, surveillance, traffic or transportation tracking, inventory control, individual order tracking, and customer management can be more cost-effective with the right tracking system using IoT technology.
8. Useful for safety concerns: It is helpful for safety because it senses any potential danger and warns users. For example, GM OnStar is an integrated device that identifies a car crash or accident on the road. It immediately makes a call if an accident or crash is found.
9. Useful in the healthcare industry: Patient care can be performed more effectively in real-time without needing a doctor’s visit. It gives them the ability to make choices as well as provide evidence-based care.

Disadvantages of IoT

As the Internet of things facilitates advantages, it also creates a significant set of drawbacks. Some of the IoT disadvantages are given below:

1. Security issues: IoT systems are interconnected and communicate over networks. So, the system offers little control despite any security measures, and it can lead to various kinds of network attacks.
2. Privacy concern: The IoT system provides critical personal data in full detail without the user’s active participation.
3. Increased unemployment: Unskilled workers or even the skilled ones are at a high risk of losing their jobs, leading to high unemployment rates. Smart surveillance cameras, robots, smart ironing systems, smart washing machines, and other facilities are replacing the humans who would earlier do these works.
4. The complexity of the system: The designing, developing, maintaining, and enabling of the extensive technology for IoT systems is quite complicated.
5. High chances of the entire system getting corrupted: If there is a bug in the system, it is possible that every connected device will become corrupted.
6. Lack of international standardizations: As there is no international standard of compatibility for IoT, it is problematic for devices from different manufacturers to communicate with each other.
7. High dependency on the internet: They rely heavily on the internet and cannot function effectively without it.
8. Reduced mental and physical activity: Overuse of the internet and technology makes people ignorant because they rely on smart devices instead of doing physical work, causing them to become lethargic and inactive.

Conclusion

Internet of Things IoT device is a burning topic in the current era. We understood how these smart devices developed by mankind for mankind are impacting in both positive and negative ways.

In this article, we came to know about IoT devices which are the Internet of Things, the types of devices that include IoT in our day-to-day life, and the process in which the IoT devices make a user’s task simple and quick.

We saw how this technology which is increasing drastically is going to impact the future of mankind and the working principle of IoT devices. You also came to know about the price, features, video explanation, and where to buy these devices as per your requirements.

With these points, we believe the time is not too far, in which we will see each and every individual, home using and depending on the “Internet of Things”.