What is The Internet of Things (IoT)? The phrase "Internet of Things (IoT)" was coined by Kevin Ashton, likely in 1999 as the title of a corporate presentation he made at his place of employment, Proctor & Gamble. During his time there, Ashton came up with the concept of putting a RFID tag on every lipstick and having them communicate with a radio receiver on the shelf to track sales and inventory and signal when restocking was required. He posits that such information collection is often used to solve lots of issues in the real world [sources: Ashton, Gabbai, Simmonds]. Billions of connected devices are a part of the internet of Things (IoT). They use integral hardware and software system to send and receive information via numerous communication protocols. They could use our smartphones as their gateway to the web, hook up with another piece of hardware in our homes that is acting as a hub or connect directly through our home internet service. They typically send information to cloud-computing servers where it's then aggregate and analyzed. We are able to usually access the results via apps or browsers on our mobile devices or home computers. Some can even be set up to update your status on numerous social networks. Despite the fact that most of us don't have smart homes full of interacting gadgets yet, the IoT is already quite vast. The estimates are all over the place, with researchers probably using different criteria for inclusion, however by some accounts, there are already between 15 and 25 billion connected devices, with the count expected to grow to anywhere from 50 to 212 billion by 2020 [sources: ftc, Intel, McLellan, OIC]. Some analysts even estimate that there'll be around a trillion connected devices by 2025 [source: Wasik]. As huge as that number is, it appears less implausible when you notice that you will embed or attach sensors and tiny computing equipment to just regarding anything. Many folks have a smartphone, a device used as an access point for several connected gadgets that is conjointly an IoT device in its own right. Wearable fitness trackers are fairly common, too. And embedded processing, sensing and communication equipment is being value-added to nearly any device you can consider, from bathroom scales to refrigerators — even shoes. Smart thermostats, smoke alarms and security cameras can track your habits to help you save on energy bills, let you remotely see camera views of your home, send you a warning when something is not right and build it easy to contact emergency services. You’ll be able to even buy small tags to put on and track something from your car keys to your pets and kids. Lots more connected devices are either out already or hitting the market soon. Right now, we are probably to have a smattering of smart devices that we can interact with individually (often via separate phone apps), however, that for the most part do not work in conjunction with each other. However, companies and industry groups are operating to create standards and platforms to make it easier for all these devices to be programmed to figure together more seamlessly, as well as to improve security. Outside the house, lots of industries and cities are adopting, or have already adopted, technologies that add to the internet of Things, too.
Once there are additional devices which will work with different devices, even those from completely different manufacturers, we'll be ready to automate lots of mundane tasks. We've basically given common physical objects both computing power and senses. They can take
readings from our surrounding environment (even our own bodies) and use the info to change their own settings, signal other devices to do this and combine it for us to peruse. A lot of them perform actions supported complex algorithms, not just the simple if-then directions of past embedded computing, that either occurs within their own processors or on cloud servers. There is still lots of innovation going on, so all these smart gadgets are sure to enable things we're not even considering right now. Internet of Things (IoT) Business Opportunity
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