What is IoT (Internet of Things)?

The Internet of Things (IoT) refers to a network of ever-increasing number of physical “things” - from small consumer devices to massive industrial equipment - that are embedded with sensors, software, and connectivity. These “things” are connected to the Internet and are capable of collecting and transferring data over a wireless network without human intervention.

The “Internet of Things” Explained

IoT is a concept describing a network of embedded, interrelated computing devices - mechanical and digital machines that help to sense, communicate, interact, and collaborate with other things. They create a network of physical objects that are provided with unique identifiers that have the ability to transfer data over the network without requiring human-to-human or human-to-computer interaction. Connected devices have become an intelligent system of systems, using data analytics to extract valuable information, thus sharing data over the cloud and transforming the way businesses gain insights from data.

Why IoT Matters

  • 127

    Devices gets connected to Internet, every second

  • 75.44B

    IoT devices to be connected by 2025

  • $1.567T

    Estimated growth of IoT market by 2025

  • 9/10

    Business leaders see IoT critical to their business

  • $15T

    Companies to invest in IoT by 2025

  • 87%

    Companies already reaping returns on their IoT investments

With over 50 billions of devices expected to be connected with the internet in a few years, IoT has the potential to transform everything. From light bulbs and air conditioners to factories and buildings - everything would be connected to the internet in some way and as the laws of commercializing technology states, we would be probably looking at a tremendous expansion of the IoT powered world. IoT technology has the potential to cut costs, increase efficiencies, improve customer service, speed up decision making, and so much more. It has the potential to be a competitive advantage and to reward those innovators who adapt to it first.

Internet of Things (IoT) has evolved over the decade from yet another concept on paper to full-blown technology enterprise applications that render tremendous business value.

How the Internet of Things (IoT) work?

The IoT process begins with the devices that have built-in sensors. These sensors gather huge data every few minutes from the environment. All the collected data is then sent to the IoT platform, a common infrastructure to which all the devices in use are connected. The Internet of Things platform integrates the data collected from multiple sources and further perform advanced analytics to extract valuable information from the data, as per the requirement. The transmission of data is done via a medium such as Wi-Fi, Bluetooth, wide area networks (WAN) i.e. GSM, NB-IoT, LORA and SigFox, or satellite networks. With the insight provided by advanced analytics comes the power to make processes more efficient by automating certain tasks, particularly when these are repetitive, mundane, time-consuming or even dangerous.

How IoT Impacts Businesses

Manufacturing

Factories and Industrial units are ideally suited for the prolific use of Internet of Things. This is generally qualified as Industrial IoT (IIoT). The key focus of these IIoT applications is to monitor both assets and processes in the shop floor for optimizing both asset performance and process efficiency. Increased visibility and better insights on the health of the assets and processes will help them to detect anomalies and fix issues proactively. Digital Twin and Industry 4.0 are IoT enabled capabilities which look to automate and enhance collaborative functioning and monitoring in Manufacturing.

Logistics

Logistics is another industry which has been heavily impacted by applying the IoT capabilities. Efficient management and cost reduction are the primary objectives of every Logistics company. To improve vehicle management, reduce costs, maintain efficiency & safety standards, and provide compliance with government regulations, enterprises have to have telematics technology in place. IoT with geo-fence enabled location intelligence can deliver greater efficiency and reliability for transportation and logistics companies. It can also enhance tracking and monitoring connected vehicles, freight and other mobile assets in real time.

Energy

Today's trends of global warming and climate change have brought to light the need for reducing energy consumption. Governments are laying critical focus on reducing energy usage and increasing green energy options in all industrial, commercial and residential sectors. However, the key to optimize energy usage is to capture, analyze and understand usage patterns, wastages and saving opportunities. IoT enabled energy management system helps track and optimize energy consumption thereby improving utilization, reducing costs, predicting maintenance needs, and increasing the reliability of energy assets.

Government / Public

Citizens expect constant access to city services. In addition to services such as water, gas and electricity, citizens also depend on effective transportation and security systems to get from place to place quickly and safely. On the other hand, cities today are in need of systems that could help optimize cost, modernize urban mobility, simplify public services, scale up security, and improve the overall well-being of its patrons. And with IoT, municipalities can become more connected with solutions like Smart Street and Traffic Lights, Smart Public Transports, Smart Parking, Smart Buildings, Smart Utilities, Smart Energy, among others.

What is an IoT Platform

The Internet of Things happens because of an infrastructure called an IoT platform, a software that sits above the layers of IoT devices & IoT gateway(s) and collates & processes all the sensor data. The IoT platform facilitates communication, data flow, device management, and the functionality of applications - which it enables to build & so are called Application Enablement Platforms or AEPs. It essentially pinpoints exactly which information is relevant and which are not, making it convenient for analytics and decision-making. IoT platform is an enabler in building intelligent IoT application tailor made to fit your business needs.

Importance of “IoT Platform” while embracing IoT

An Internet of Things platform is a backbone for any IoT Application that provides a head start in building IoT applications. It allows users access built-in tool sets and capabilities that remotely connect “things”, collect data, manage devices over secured connectivity & collaborate storage, provide critical analytics, visualization, and integrate over cloud services, irrespective of industries and business verticals. An Internet of Things platform essentially provides the infrastructure/framework for developing a scalable, robust, secure and powerful IoT Application while easing the application development process and accelerating the time to market.

Improving Business Efficiency with IoT Technology

IoT is a system of systems - a network of devices, connecting in a plethora of communication protocols, connectivity options and a software application layer for data processing and visualization. Hence, rarely would an organization have the expertise on all these functional areas of hardware, connectivity, software, analytics and integrations, etc. With improved management of connected devices/objects and advanced data processing, an enterprise ready IoT platform allows businesses to benefit from real-time monitoring and generate insights and analytics. The Internet of Things platforms help businesses prototype, visualize and test ROI and eventually build and scale-out powerful IoT enabled solutions for their organizational needs.

WebNMS IoT platform is a leading Internet of Things Platform which specializes in DAQ & Data Processing, Device Management, Real Time Monitoring & Alerting, Advanced Analytics, Enterprise-Grade Security and Cross Enterprise Data Integration.

Things to look for in an Enterprise Ready IoT Platform

What is an IoT Solution

Internet of Things technology is an enabler in efficient and real-time data collection from various connected assets and devices. IoT solutions are the applications which ingest this data, process and analyze it to create business benefit from the data. Each industry or business has a unique set of assets, data and business needs or organizations goals which can be met with processing this data. Hence, the Internet of Things solutions are also streamlined or tailor made to meet the unique needs of each industry or business. And efficiently building an IoT solution is accomplished with an effective and comprehensive IoT platform.

Next Step

As you get started with the IoT - from setting strategy to measuring IoT success, dig deeper and get an overview of our specialized IoT solutions that are transforming today’s businesses.

WebNMS for IoT

Explore the WebNMS IoT Platform to quickly develop IoT applications for your business and get to market in no time at all. IoT is transforming the way business work and deliver services to their customers. Embark on your IoT journey creating new IoT strategies and exploring opportunities for a digital and sustainable tomorrow.