The Internet of Things is a growing network of everyday objects â€“from industrial machines to consumer goods â€“that can share information and complete tasks while you are busy with other activities, like work, sleep or exercise.
Soon, our cars, our homes, our major appliances and even our city streets will be connected to the Internet â€“creating this network of objects that is called the Internet of Things, or IoT for short.
Made up of millions of sensors and devices that generate incessant streams of data, the IoT can be used to improve our lives andour businesses in many ways. But how does it work? And what are these things that are part of the network?
The Internet of Things consists of three main components:
– The things (or assets) themselves.
– The communication networks connecting them.
– The computing systems that make use of the data flowing to and from our things.
Using this infrastructure, objects or assets can communicate with each other and even optimize activities between them based on the analysis of data streaming through the network.
-Self-parking cars today are a marvel, but what about fully autonomous cars that taxi us efficiently around a city, stopping to share fares when budget-conscious travelers opt in; or trucks that haul commerce safely and quickly across the country, avoiding traffic delays and optimizing part replacement needs?
Internet of Things facts and predictions
-Wide deployment of IoT technologies in the auto industry could save $100 billion annually in accident reductions, according to McKinsey.
-The UK government recently approved45 million pounds (US$76.26 million) in research funding for Internet of Things technologies.
-The total economic value-add from IoT across industries will reach $1.9 trillion worldwide in 2020, anticipates Gartner.
-Cities will spend $41 trillion in the next 20 years on infrastructure upgrades for IoT, according to Intel.
-The number of developers involved in IoT activities will reach 1.7 million globally by the end of 2014, according to ABI Research estimates.
What does it mean if devices and sensors are networked together and communicating with one another? How will the Internet of Things affect your everyday life? Thereâ€™s the obvious: GPS systems, alarm systems and thermostats â€“all sending and receivingconstant streams of data to monitor and automate activities in our automobiles and homes.
Connected devices are making their way from business and industry to the mass market. Weâ€™ll be seeing more and more compact, connected sensors and actuators in everyday consumer electronics, household appliances and city infrastructures
AS a variety of market forces have combined to make analysis of IoT data possible. The increase in computing power, the prevalence of cloud technologies and the advent of high-performance computing are all trends that have prepared businesses for the Internet of Things. With the right infrastructure in place, you can start today.
Metis partnership with industry leaders taking lead and keeping the initiative on IOT make us ready and extend the same toour customers to take them to next level.