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5 things to know about the Internet of Things
5 things to know about the Internet of Things
The internet of things has become a buzzword you’ve likely seen in the news over the last several years. As more people buy smartwatches, autopilot-enabled cars, smart TVs, game consoles, or even smart refrigerators, the internet of things grows in its vastness and depth, with billions of electronics online at any moment.
These rapid technological developments are enough to make your head spin as a consumer. IoT Secure demystifies the internet of things and the most common electronic devices and networks linked to it.
You can buy practically any appliance now that has been enabled with "smart technology"—generally a type of tiny transmitter, from a radio frequency identification tag to smartphones and tablets linked to cellular networks. These devices’ communications range from a simple ping verifying location to a full user interface with built-in GPS, like a smartwatch. Their defining feature is that they can not only communicate with one another, but also transmit data to a central hub like a corporation or manufacturer. Then there are devices designed for constant interaction with humans. For example, a smartwatch that records not only your exercise heart rate and calories burned, but also logs how many hours you sleep.
Read on to find answers to some of the most common questions about IoT devices. We’ll demystify the technology, as well as present some of the risks you may have heard about from linking your Alexa or home thermostat to the internet.
How IoT devices communicate
IoT devices are all connected to the internet and designed to form systems to communicate amongst themselves as part of an interlinked network. This interconnectivity allows them to automate or remotely control different processes, like turning off lights or monitoring your backyard. IoT devices can collect and transmit information, just like almost every other electronic device.
The simplest type of IoT is radio frequency identification, or RFID, which is when devices send pings back and forth to indicate their location. Other devices grow in complexity as they use more bandwidth, transmitting continuously via Bluetooth, Wi-Fi, and cellular networks.
The types of information IoT devices collect and transmit
IoT devices collect data for automation, like when you tell your smart thermostat what hours you’re away from home and when to warm up your bedroom. All the collected data form an impression of how you use your devices so devices can begin to forecast behavioral patterns. This can make for better predictions—as well as highly targeted marketing—that represent the highest and often controversial value captured by Amazon and other corporations that operate IoT products.
How IoT data is used
A variety of industries use IoT device data. Companies can use ongoing location data from devices like smartwatches to create profiles of users' daily commutes, plus locations commuters are avoiding due to service outages or construction.
Logistics companies can use container RFID and GPS data to identify efficiencies and sell lower-cost shipping. Electric utilities can use consumer thermostat data to help adjust the grid for lower power consumption depending on the time of day, seasonality, and severe temperature swings. As robots and other devices integrate improved RFID technology, manufacturers hope to combine IoT with artificial intelligence to revolutionize how they measure and improve the performance of their machinery.
How businesses are accelerating the growth of internet-connected smart devices
How businesses are accelerating the growth of internet-connected smart devices
The Internet of Things is a huge buzzword right now. The term refers to the use of devices that are connected to the internet, but without a traditional user input like on a computer or smartphone. Using news sources and reports by experts, IoT Secure collected information about how businesses are accelerating growth in the Internet of Things.
Every generation of electronics has gotten smarter, but it’s only in the recent past that electronics have gotten “smart”—a technical term referring to smart TVs, refrigerators, and other devices that are connected to the internet. These devices are able to communicate with each other and send data on user behaviors, for example, allowing you to use a remote phone application in order to adjust your home thermostat so everything is cool and comfortable when you get home.
In-home applications make up a large part of the IoT device market, but there is ongoing growth with the potential to transform many different business industries. It’s here that IoT gets many business leaders excited as they look for ways to make manufacturing and other industries more efficient and better gauge and respond to supply and demand. Health care is another vital industry that could be revolutionized via IoT, with better monitoring and support for doctors, nurses, and home health aides.
Business spending on IoT has increased by more than 10% for the last three years
Businesses have increased spending by over 10% in each of the last three years on IoT devices. Part of this spending is in development of devices intended for consumer use, such as smartwatches, wearable fitness monitors, and video game consoles. There has also been a rise in the cost of raw materials that go into making the batteries that power these devices. Another part of the spending growth is by businesses that are upgrading to fully integrate IoT devices into their operations. The leading industries for IoT growth are health care and manufacturing.
There are an estimated 18 billion IoT devices today
The Internet of Things is an umbrella term encompassing “smart” devices like TVs and refrigerators as well as other machines like your car and video game console. These devices are connected to the internet, but don’t have a traditional user interface associated with a personal computer or smartphone. But it’s easy to see how those categories could add up to the estimated 18 billion IoT devices in the world, with potential for a high number within the same connected family group. The number of devices will continue to rise as more people upgrade their household appliances and vehicles.
The devices are projected to create 90 zettabytes of information by 2025
According to global markets intelligence firm IDC, IoT devices are expected to create 90 zettabytes of total information by 2025. A zettabyte is a unit representing a billion terabytes, or a trillion gigabytes—your smartphone might have 64 gigabytes of storage, by comparison. And it makes sense that IoT devices will generate this much data. The devices include voice recognition devices like Alexa that record sound on a regular basis as well as nanny cams and other camera-equipped devices that take photos or record video files. Some IoT devices have on-board storage, while others are designed to transmit the data to a home computer, reducing the need for inbuilt storage.
China is estimated to capture more than 26% of the total value of IoT devices by 2030
As a manufacturing hub that’s home to 1.4 billion people, McKinsey estimates that China will have more than 26% of the global IoT industry’s value by 2030. With such a large portion of the potential IoT market, China has an opportunity to capitalize on what McKinsey identifies as the two most valuable portions of the growth in IoT value. First is operations productivity, meaning the efficiency with which people and machinery are able to fabricate materials, build devices, and more. Second is improving human productivity, a category that could include workers in almost every industry.
This story originally appeared on IoT Secure and was produced and distributed in partnership with Stacker Studio.
