The term Internet of Things represents everything connected to the internet that „talks to each other “.
These devices can communicate and coordinate daily actions. There are some analysis which estimate that there will be over 100 billion connected devices by 2020. Having this in mind, the focus should be on improving current Wi – fi technology so it would be able to withstand a huge number of connected devices without losing speed.
Rule of the future is that anything that can be connected would be connected. As technology advances, the number and variety of devices we use every day will increase, enabling the full exploitation of IoT. Possibilities will be endless such as „smart cities “, places which will be reducing waste and saving the environment and energy with theirs coordinated actions.
When we are talking about IoT we need to differentiate the types of communication. It can be the communication among humans, among things and among devices (machine to machine). For all these types of communication we already have numerous wireless devices which enable connecting to internet. With all these devices the whole home becomes smart and begins communicating with itself and has one mainframe from where it is controlled. Naturally, for IoT to be accessible to everyone, the prices should be significantly lower.
From the technical side, IoT implies low energy consumption as well as small data flow (only the necessary data). Currently, the biggest problem is to find a standard on which all devices will communicate with each other because now we have a lot of manufacturers who are developing their own technology and are not compatible with another manufacturer.
But with all the benefits of connecting the devices there is also a mayor security threat. Question is who will oversee controlling of all the data and who will have access and for what purposes. With current Global Data Protection Regulation (which comes into force on May 25) issue of privacy and data sharing is more relevant than ever and it will be interesting to see how this idea will be implemented to fit with the GDPR regulation.
Another problem will be enormous amount of data which will be produced, collected and later stored somewhere.
Businesses will have to change the foundations they have worked on so far to “survive” and adapt to new wave of technology.
Attractiveness to IoT is best spoken by companies that work on it like Apple, Samsung, Google, etc, as well as numerous other companies and start-ups. According to some predictions, the IoT market will be worth around 250 billion USD.
When everything is considered, the IoT will change the way our lives work and reshape the future.
The best way to prepare ourselves is to get a better understanding of the term IoT and then try to assume its potential applications in every day practice.
Author: Ivan Strangar