Talking of today, the most buzz we are repeatedly coming across in technical market is about “IoT i.e. Internet of things”.
So we were in a way bound to find what this buzz is all about and what is this IoT, but most importantly is there any scope for it in India?
Well this is all we found and came across IOT and its future in India.
But before going much deep, we would first like to tell you what this IoT actually means, this is a must for all those who came across this word for the first time or have only heard about it from mouth to mouth.
According to Google IoT refers to “a proposed development of the Internet, in which everyday objects have network connectivity, allowing them to send and receive data”.
The Internet of Things (IoT) is basically a system of interrelated devices that includes computing mechanical as well as digital machines with objects, animals or people that are provided with unique identifiersand the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.
A thing, in the Internet of Things, could anything be a person with a heart monitor implant or an automobile that has built-in sensors to alert the driver when tire pressure is low,or any other natural or man-made object that can be assigned an IP address and provided with the ability to transfer data over a network.
- IOT has evolved from the convergence of :wirelesstechnologies,
- Micro-electromechanical systems (MEMS),micro services and the internet.
IOT is nothing but the interdependency of humans and machines. The IOT is showing what nature had shown us for long time now – the concept of INTER-DEPENDENCE &CO-DEPENDENCE.
The problem is, people have limited time, attention and accuracy all of which means they are not very good at capturing data about things in the real world. If we had computers that knew everything there was to know about things — using data they gathered without any help from us we would be able to track and count everything and greatly reduce waste, loss and cost. We would know when things needed replacing, repairing or recalling and whether they were fresh or past their best.”
FINALLY ARRIVING AT OUR MAIN COONCERN ABOUT SCOPE OF IoT IN INDIA…….
No doubt IOT is a recent notion but the trace of IOT can be found in earlier times as well here is an example showing that although IOT is a new term but it has been there in the society for decades now. The first internet appliance, for example, was a Coke machine at Carnegie Melon University in the early 1980s where in the programmers could connect to the machine over the internet, check the status of the machine and determine whether or not there would be a cold drink awaiting them, should they decide to make the trip down to the machine.
So no doubt ‘Internet of Things’ (IOT) has made its presence known in the past but today IOT is the future, and according to the recent forecast in the coming 10 years, IOT will grow into new relationships with mergers and acquisitions, incubation centres and start-ups .
By IoT one shouldn’t need to worry about lessening of job opportunities in market while it is an established fact that computers could even replace human beings in some areas, it does not necessarily mean reduced number of jobs. With every industry taking to IT, the demand would not be reduced, as in the last fiscal; the sector had grown at 14 per cent and is expected to grow in the current year at 13 per cent.For the past two decades the network is working to showcase and communicate the latest technological advancements.
As per a calculated fact derived from recent calculations “In 3 to 5 years we would see a whole lot of ‘analysts’, apart from the current position of just ‘programmers’’
The Internet of Things (IoT) is making its move and is surely involved in an attempt to move from a centralized structure to a complex network of decentralized smart devices. This shift promises entirely new services and business opportunities.
An increasingly connected and yet diversified world will see the growing networking and cloud-enablement of all sorts of physical devices from machines through cars to home appliances.
It is even said to making its move towards the fourth “Industrial revolution”.
The usageand applications of IoT is limitless. IOT has uses from governance to elderly care. But we believe it’s most important use is to come in social sector.
- IoT can help in identifying epidemics, diseases, pests and help take immediate corrective action
- In everyday living numerous devices are being used by every Indian but one thing almost none of us can miss is surely the cell phones now a day preferably smart phones. So speaking of connecting all the electronic devices to them will inevitably make life much easier for everyone.
- Well talking not exactly in terms of an economist but IoT has potential to add almost the same growth to Indian GDP as the introduction of mobile networks did.
Now talking on another rather hotly debated topic in recent market
Why IOT is important for Social Marketing?
The major reasonis the nevertheless the FAB (Features, Advantages, Benefits) concept of marketing. Every consumer will always want a product that guarantees all the features, advantages and benefithe/she can extract from the product.
Talking about the social group how can one cease to mention thesocialmedia companies. On one hand we know that as far as industry goes they have sole purpose to connect people to one another but now they are rather trying to connectpeople to their things. But the social media right now is getting prettyold and outdated so now they are more interested in getting back every single bit of information they could lay their hands on.
The announcement of Google’s Glass made people go gaga about the device.Interesting is that most experts agree that the IOT needs social media.
With an estimation of 25-35Billion IoT Devices By 2020 this number is amazing for Social media marketers!
For businesses, this is a unique opportunity to reach consumers through a new type of “display”.
Brands can benefit from valuable insights that come from the collected data.IOT will let your customer close to you.
A recent research with the title “IoT Healthcare Market- Global Trends and Forecast – 2016-2022″ predicts that IoT is will expand at a CAGR of 42% and have a tremendously positive impact on the healthcare sector. The growth will be more targeted in Asia Pacific region as there is more emphasis on advanced healthcare technology than anywhere else in the market. High integrity sensor systems with motion detectors and complex robots will be dominating the healthcare units.
There is so much to look forward to if this is really going to happen, no more trouble in cases of emergency, the efficiency of system is going to improve as a whole.
There are various estimates with each expert having a differing take on the number of devices or “things” that will connect to the Internet by 2020.Estimates range from Gartner’s 26 billion devices to IDC’s projection of 212 billion installed devices.
Why should CIOs care?
Though enterprise IT has traditionally told to have little to do with what happens in operations, the CIO today will play an important role because all the connected devices will now be sending Big Data to central servers which need to be analysed for meaningful decision support in real time.
Everything said and done we would now conclude by saying that IoT is now ready to set new trends in market and if you have it in you don’t let this opportunity slip through your fingers.
Hope you find this article useful!