What Is The Internet of Things?

You may have heard the term IOT or Internet of Things as a new business buzz word. What does it really mean and how does it work?

The Wikipedia definition states that it is the inter-networking of physical devices that enables these objects to collect and exchange data. In other words, these are smart devices that can communicate with each other or to a single point back with their current status in terms of operability status and location. In some cases, you will be able to control the device to take certain actions depending on the given condition using sensors.

This technology has the ability to disrupt many industries and the way people go about their personal and work life. Work will become “activity based” instead of “a place where you go” to generate productivity that contributes the organization and the country’s GDP. We are becoming an “always on” society with work-life balance. At the moment, the IoT market is roughly 15.4 billion devices and that is expected to grow to 75.4 billion connected devices by the year 2025.

IoT is expected to improve the way an organization develops and delivers a product or service to the end user, while improving customer experience, efficiency and profitability.