If you are reading this article, it is because you are curious about IoT, the Internet of Things. This is a concept that has become more popular in recent years, thanks to advances in technology. Let’s find out here what IoT is, why is IoT important, where can you find this technology and some examples in real life.
What is IoT?
We often are asked about what is IoT, since this concept is very popular in the market nowadays. To put it in simple terms, the Internet of Things consists of devices, hardware, or products that contain electronics, sensors, firmware, and software, and that can store, gather, and send data over the Internet to other devices or platforms.
Another way to explain what is IoT is through an example. Imagine a watch that can collect specific information from your body, like blood pressure, oxygen, stress levels, or even the distance you have walked. How does it work? The smartwatch has specific electronics, firmware, and sensors that allow it to collect information in real time, and thanks to an app or software, the data is processed for the user through a cloud.
“IoT allows devices or hardware to gather information and send it over the internet to a cloud, app or software.”
The market size of IoT is expected to grow to USD 650.5 billion by the year 2026. This is amazing, considering all the potential this market has. Also, Artificial Intelligence plays an important part in this higher adoption of IoT.
Does this mean that any object or device is susceptible to becoming an IoT device? Yes, suppose you consider there is a potential for gathering or measuring interesting data that people can use. In that case, you can get IoT product development done with a company that adjusts to your needs.
What is IoT in simple words?
In simple words, IoT refers to everyday devices connected to the internet, enabling them to send and receive data. These devices can range from household items like smart thermostats and fridges to industrial machines and wearable fitness trackers.
What is IoT mainly used for?
IoT is mainly used for:
- Home automation: Smart home devices enhance convenience and security.
- Healthcare: Remote patient monitoring, and personalized treatment plans.
- Manufacturing: Streamlining operations, predictive maintenance.
- Transportation: Fleet management, connected vehicles.
- Energy management: Smart grids, energy usage monitoring, and IoT energy solutions.
Why is IoT important?
IoT is important because it enhances efficiency, automates processes, improves data collection, enables smart decision-making, and enhances daily life through connectivity between devices. It drives innovation, supports sustainability, and creates new opportunities across industries.
Wouldn’t you like to program your laundry machine from your phone to do the laundry while you are at the supermarket? Wouldn’t you want to get insights on how to improve your running performance thanks to smart devices attached to your body?
The Internet of Things reduces human effort for many activities and provides tons of information. When people have data, they feel more in control of every aspect that surrounds them.
IoT is important because of its benefits in different areas, such as energy management, fleet management, vital signs monitoring, light automation, home safety, and smart irrigation (see top IoT use cases).
Of course, the IoT device will succeed if there is a market or problem that needs to be solved (IoT problems and solutions). Startups and companies that want to launch a new IoT device must understand this. Let’s explore more about the importance of IoT.
4 Benefits to understand the importance of IoT
1. Better life quality
Smartphones are an important part of daily life. People rely on these devices to do almost any task; from answering the phone to sending emails.
One of the reasons why IoT is important is because of its impact on communication. IoT devices allow us to get information faster than ever before, and this leads to an improvement in life quality.
If you count on a smart device to remind you of your appointments, or you can download your medical report in just a few seconds, it means you can dedicate more of your time to other activities.
When you save time, you become more productive. Your mind releases from unnecessary workloads and can be more focused on more important tasks.
There are even new IoT devices that focus on wellness, which is another advantage of this technology.
2. Automation of processes
Turning on the lights. Opening the garage door. Adjusting the thermostat. Doing laundry. Ordering medicine. Buying groceries. Counting your burned calories during exercise. What do all these things have in common?
These activities can be automated, and IoT becomes really important to people because it allows us to control these tasks and automate them. By installing sensors at home, you could turn on the lights from your phone, or adjust them from your app to activate at night when there is movement inside the room.
You could open the garage door from your car when you are arriving home, so you won’t waste time getting out of your car and doing it by yourself.
Work out without getting worried about the amount of burned calories, the wearable around your wrist will get the information for you. This is one of the big advantages of IoT for wearable devices.
3. Data-driven decisions
Sean Covey, a recognized writer said, “We are free to choose our paths, but we can’t choose the consequences that come with them.”
Everything in life is about decisions. IoT is important for many people because it opens up the possibility of making decisions based on the collected data.
If you could improve the quality of your crops by measuring the soil, its humidity, and nutrients, would you do it? The most probable answer is yes. By installing sensors or smart devices, you could take your crops to a whole new level.
Of course, the data itself won’t do anything. The collected information will help you acknowledge potential problems, and you can make decisions accordingly.
4. Real-time monitoring
If you still wonder why the Internet of Things is important today, it’s because of real-time monitoring. For instance, these connected devices would have the ability to keep an eye out on the current quality of goods at home. Knowing the state of your items will allow a homeowner to know when they need to replace an item, without them having to consistently check the quality themselves.
According to Markets and Markets, “The IoT-based Asset Tracking and Monitoring market is projected to grow from USD 3.9 billion in 2022 to USD 6.6 billion by 2027.”
Companies in different industries want to be able to track their assets in real-time. This feature gives them the possibility to check the status of the product or asset, its performance, and if there are any internal risks, availability, and potential dangers for the monitored asset; see IoT fleet management use cases.
Need for IoT in different areas
You have seen so far why IoT is so important for people and companies. Now let’s see the need for IoT in some important areas:
- Smart Energy.
- Smart Agriculture.
- Retail.
- Industrial level.
- Mobility.
- Health.
- Smart Water.
- Waste Management.
- Home.
- Sports.
- Smart Buildings.
- Logistics.
- Environment.
These are just some IoT use cases where you can develop a new smart device; imagine all the potential you can find there. Every industry mentioned above is open to new developments. They may be already waiting for your IoT device; the trend nowadays is to develop smart cities.
Internet of Things examples
At DeepSea Developments, we have helped some customers develop medical devices. For instance, imagine a smart device that reminds you to take your medicine at specific times of the day. You would receive an alert on your phone, and the device would open at that moment to give you the pills; this is one reason IoT adoption has been so great in general.
Another example is a hospital that needs to provide medical equipment to a patient to help him move at home. Sometimes the inventory is difficult to find, and that delays a lot of processes from the customer service area.
So, with the help of tracking devices, the staff from the hospital would immediately locate equipment inside the facilities and give it to the patient.
Where could this technology be installed? Well, it depends on the creativity of the electronic product developers. You could for example install IoT sensors in wheelchairs, oxygen machines, special beds, and heart monitors, among others; this, of course, requires IoT privacy, to ensure sensitive data doesn’t fall into the wrong hands.
Not only the doctors or hospitals monitor the location of the product, but they also can know in real-time if there is a potential failure in the device that may affect the patient’s health.
There are many examples of IoT in the healthcare industry, the need for IoT in this area is high nowadays, and several startups are entering the market with new devices.
Now that you understand the importance of IoT, we expect this information to give you great ideas to develop new smart devices for the market.
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