Today be online by 2020, creating over $300

Today the
entire world is focusing on a new technology- The Internet of Things. Internet of Things (IoT) is the
cutting edge technology which is going to create a lot of opportunities in the
near future. Development of Smart Devices that interact with the environment
and make intelligent decisions will make life easier for all. The growth of Internet of Things (IoT) is accelerating at such an
impressive speed that it is predicted that 25 billion devices will be online by
2020, creating over $300 billion in opportunities for companies involved. It
will change the way businesses interact with the world. IoT revolves around
increased machine-to-machine communication. It is built on cloud computing and
networks of data-gathering sensors. It is a mobile, virtual, and instantaneous
connection that is going to make everything in our lives from streetlights to
vehicles “smart.”

The real value that IoT creates is at the intersection of gathering
data and utilizing it to make intelligent decisions. There has to be an
infrastructure in place to analyze all the information gathered by the sensors
in the IoT scenario. Cloud-based applications are the key to using leveraged
data. IoT functions with cloud-based applications to interpret and transmit the
data coming from all these sensors. The cloud enables the apps to go to work
for people anytime, anywhere.

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A brand new car
that comes preloaded with many cloud based apps is utilizing the merits of IoT.
Those smart home devices that let you control the thermostat and play music
with a few words are applications of Internet of Things. But this is just the
beginning.  The prospect of
billions of connected devices promises to transform home activities, healthcare,
transportation, business, industrial operations, and many other aspects of our
lives.

The bad news
about the IoT is that we have a lot of work to do before we are ready for it. Preparatory
work with regard to data management and analytics have to be done to capture,
store, access and analyze all the IoT data that will be flowing around the
Internet. The good news is that most organizations have a few years to get
better at these capabilities before the real onslaught hits. The sensor
devices, IoT data standards, and data management platforms are still in their
relatively early stages now.

When bridges are built, we can use smart cement: cement equipped
with sensors to monitor stresses and cracks. This is cement that alerts us to
fix problems before they become hazardous. And these technologies are not just
limited to the bridge’s structure. If there is ice/obstruction on the bridge,
the same sensors in the concrete will detect it and communicate the information
via the wireless internet to your car. Once your car knows there’s a hazard
ahead, it will communicate the same to other cars. The driver may get an alert
to slow down, and if the driver doesn’t, then the car will slow down for him.
This is just an example to illustrate how sensor-to-machine and
machine-to-machine communication can take place. Sensors on the bridge connect
to machines in the car and the driver can turn information into action.