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The internet is seen by many as the biggest technological disruption of all time.
It has enabled entirely new forms of social interaction, activities, and organization. There are only a handful of similarly important disruptions.
The Internet of Things is about connecting internet-enabled devices that communicate data back to us, to cloud-based applications and to each other (M2M). These internet-enabled devices can be anything from mobile phones, cars, switches, wearables, energy meters to medical equipment. The idea is that not only computer and smartphone can communicate to each other, but also all the things around us via a system of IP networks to be part of the internet world.
The global Internet of Things market expects to grow to $11 trillion in 2025 from $1.7 trillion in 2015 according to Quantum-Web, as more devices connecting to the Internet and an ever growing of platforms, services and applications grow up around them.
The number of connected devices such as wearables, cars, home appliances, traffic lights and everything in between, will grow from 6 billion in 2015 to over 40 billion in 2025, says Qmars Safikhani, Principal Analyst at Quantum-Web.
The Internet of Things will transform nearly all major aspects of our life, from homes to business and from cars to cities.
Smart city includes a wide variety of topics, from traffic management to water supply, to transport, urban security, and environmental monitoring. Smart City services assist to alleviate real issues of people living in cities. Like solving traffic congestion problems, reducing noise and pollution and helping to make cities safer.
Smart Home describes the connectivity inside our homes. It includes Energy management, Home automation, Home entertainment, Ambient assisted living, Security, Multifunctional, and much more.
A wearable is an electronic device capable of storing and processing data that is incorporated into a person’s clothing or personal accessories.
The battle is on for the car of the future. Whether it is self-driving or just driver-assisted: Connectivity with other cars, mapping services, or traffic control will play a part. Next generation in-car entertainment systems and remote monitoring are also interesting concepts to watch. And it is not only large auto-makers that play a role: Google, Microsoft, and Apple have all announced connected car platforms.
Connected Health (Digital health/Telehealth/Telemedicine)
The concept of a connected health care system and smart medical devices bears enormous potential, not just for companies also for the well-being of people in general: New kinds of real-time health monitoring and improved medical decision-making based on large sets of patient data are some of the envisioned benefits.
Proximity-based advertising, In-store shopping behaviour measurement and intelligent payment solutions are some of the IoT concepts of Smart retail.
Smart supply chain
Supply chains are getting smarter. Solutions for tracking goods while they are on the road, or getting suppliers to exchange inventory information are some of the Supply chain applications as part of the Internet of Things.
The remoteness of farming operations and the large number of livestock that could be monitored makes farming an interesting case for the Internet of Things.
The Internet of Things is also expected to change business models in banking, insurance, and government for example.
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