Internet of Things
1. The ‘‘things’’ (objects)
2. The communication networks that connect them
3. The computer systems using data streaming from and to objects.
It is the network of physical objects, devices, vehicles, buildings, and other items which are embedded with electronics, software, sensors, and network connectivity permitting these objects to gather and interchange data.
IoT is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers ( IP address) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. It is a network of physical objects that contain embedded technology to communicate and sense or interact with their internal states or the external environment149
According to Business Insider, there will be more than 64 billion IoT devices by 2025, up from about 9 billion in 2017. By the year 2020, 31 billion IoT devices we will have been installed. All these IoT devices generate a lot of data that needs to be collected and mined for actionable results.
IoT has, in tandem with several other emerging technologies, such as Artificial Intelligence (AI), Machine Learning (ML), Edge Computing and 5G, begun to create value and deliver competitive edge to organizations in diverse industries ranging from manufacturing to fleet management to energy and asset management to even smart cities.