Internet of Things
India is home to more than 75 crore smartphones, more than 80 crore internet users, and has one of the largest customer bases of 4G – now rapidly accelerating towards 5G. The AI market in India is expected to reach USD 7.8 billion by 2025, while the Indian industrial IoT market size is projected to grow at a CAGR of 15.5% during 2020-2026.
The concept behind IoT is “the pervasive presence around us of a variety of things or objects – such as Radio-Frequency Identification (RFID) tags, sensors, actuators, mobile phones, etc. – which through unique addressing schemes are able to interact with each other and cooperate with their neighbours
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 environment.
Instrumentation required consists of sensors like in-vehicle transponders, Infrared sensors, RFID, CCTV Cameras, GPS Sensors, Pneumatic tubes, Inductive loops, Piezo-electric strips, Passive acoustic, etc. are needed for the collection of various data. Actuators are also needed in some IoT devices to effect changes in the external environment.
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.
IoT is gaining increased popularity as devices are getting less expensive, connectivity is becoming more pervasive and battery life is lasting much longer. Cisco Internet Business Solutions Group stated that in 2020, there will be 50 billion things connected to the internet