07/01/2018
Q1 - What is Internet of Things
A1 - The Internet of Things (IoT), is defined as the network of physical objects—devices, vehicles, buildings and other items—embedded with electronics, software, sensors, and network connectivity that enables these objects to collect and exchange data. Almost regardless of industry, IoT is predicted to be the single most important factor impacting fundamental business logic in the coming decades.
Q2- Why & where it is important?
A2- IoT applications can be between people, between people and things, and between things and things, also called machine to machine (M2M).
Q3 - How many devices are connected as of right now?
A3 - There are now about 4.6 billion connected devices excluding phones, tablets and laptops. A number that is expected to increase to 15.3 billion in the next five years according to the Ericsson Mobility report.
Q4 - Do you know this?
A recent study released by Gartner says that 43% of all companies are using or plan to implement an IoT application in 2016. Are you one of them?
Q5 - Where it can be found?
Internet of Things applications can be found in every industry with a diversity of application for smart homes, smart buildings, travel and transportation, health and personal care, retail, agriculture, construction etc. The industrial Internet of Things revolves around automation and logistics. Increasingly we will see the Internet of Things creating smarter solutions, programmatically adjusting to the human behavior. The driving forces are efficiency and convenience.
Q5 - Challenges faced in the industry
A5 - There are still some barriers to adoption, however, for example, the battery life of devices and cost of devices. GSM and 4G networks are used more and more for IoT applications and new advancements recently made in the network software and device stack will greatly improve on these aspects. Finding the right ideas and business model, how to go to the market and secure ROI for the Internet of Things applications are the most critical issues to solve for most companies in the coming years.