Introduction: Internet of Things, The hype around the Internet of Things ( IoT) Technology is becoming intriguing and exciting as time advances for this technological reform is all set to bring about drastic upgradations in both the physical and electrical world around us. Many start-ups are laid in this platform, only to introduce their own version of technological wonders to its people.
Internet of Things
A lot of innovative IoT startups have already been introduced via high-end appliances and gadgets bringing the dream of technological reformation into life. In Short, this technology has added life to the vivid imaginations of the human brain.
Internet of Things:
Internet of Things to be defined in simple terms is a system of interrelated computing devices, animals, objects, mechanical or digital machines and even People, that are offered with identifiers the ability to transfer data through a network, eliminating the need for the human to human or human to system interaction. It is an evolution from the convergence of micro-electrochemical systems, wireless technologies, and the internet. Such a convergence has indeed helped it to tear down walls between information and operational technology. It also allows for machine-generated data to get analyzed for insights and incorporate improvements. In Short Internet of Things is the connection between devices and the internet. Devices here refers to things outside the smartphones and Computers such as kitchen appliances, heart monitors, Cars etc,
IoT Trends and its Market
Based on the premium research service rendered by Business Insider, It has been expected that more than 24 million IoT devices would rule the Earth by 2020. About $6 billion would be funded for these IoT solutions which would include applications development, system integration, device hardware, security, connectivity, and data storage. It is also been expected that these investments would generate at least $13 trillion by the end of 2025. Such benefits would be reaped joined by the governments, consumers, and businesses.
Growth of IoT Trends and its Market
Security systems of Internet of Things
As there are growing threats from cyber attacks, and there are all possibilities for hackers to penetrate connected cars, homes and other critical infrastructure, there are certain doubts about its privacy and security systems as more and more devices get connected to the internet. Protection of sensitive data is the top concern among enterprises, based on the Vormetric Data Threat Report – 2016. A number of tech companies are now focusing on cyber security so as to secure the safety and privacy of data.
IoT Industries and its impact on the End User
Governments, Businesses, and Consumers would benefit for IoT and major industries that would benefit are Manufacturing Sector, Defense, Transportation, Agriculture, Retail, Logistics, Banks, Oil and Gas, Insurance, Mining, Food Services, Hospitality, Healthcare, Smart Buildings, etc.
There are sure advantages of connected devices that are talking to each other, for example, if a user is on the way to the meeting, his care would already gain access to his calendar and decide on the best route to take. If the traffic is heavy, the car itself would intimate the office that the user would be late. Other examples could be, Office equipment getting refilled when it runs low on supplies, Alarm clock ringing at 6 am and notifying the brewer to make coffee etc.
In the broad perspective, IT could be applied in making smart cities that enhance efficiency and decrease waste. In the manufacturing sector, it could be best used to organize machines and people, hold tools, track devices, help farmers to monitor cattle and crops and follow the health of their herds etc. It is been expected that such connected devices would creep into most of the businesses, just like computers and the internet.
IoT has immense benefits in the healthcare sector as well through monitoring patches and smart pills, which highlights the life-saving potential of IoT, Fitness bands and smartwatches are other impressing examples of IoT.
Internet of Things Startups in 2017
Boltt Sports Technologies
They have introduced the most advanced wearable fitness app that helps users in improving running levels with a focus on fitness and health. Its Artificial Intelligence smart wearable devices support sports personnel to improve their sports performance, without affecting health.
It is building a connected car platform to connect bikes and cars with the internet and help their users manage various aspects of their vehicle such as insurance and repair, track its real-time speed, 24/7 roadside assistance, theft alerts, etc.
Gaia smart Cities
Its innovatiochanes how we live, work and interact with the environment surrounding us. It favors smart cities and industrial automation and favors high-level city performance.
This company builds IoT platforms and products that target Building Automation systems and households. Its product Zmote helps in WiFi remote control and are expected to release two such products in the year 2017. They have also collaborated with Jigsaw academy to render hand on practice course in IoT technologies.
Athena- its analytics delivery platform is a open source, modular platform that uses Microservices to be used in building architecture. Issues with industrial assets are detected with their advanced machine learning algorithms and Artificial Intelligence.
It brings in the best appliance, that is used in day to day households, featured with conservation facility and connectivity. It helps appliances to conserve electricity and saves on expenditure.
Heapsylon has now come up with technology-driven wearables that aim in preventing injury among runners and joggers. Their Sensoria socks that are infused with unique sensors are capable of monitoring textile pressure. The socks also track steps, record altitude reached, calories burnt, distance covered, weight distribution etc.
This innovative IoT startup aims at connecting all innovative technologies even when the internet goes down. It helps in IoT automotive and service availability through its hubs, modules and securely connected cloud network.
This IoT startup helps to assist elderly citizens and those living with disabilities to simplify their life and health. It creates a responsive and improved environment in their homes and workplaces, such as auto adjustment of light, heat, tracking their fitness, etc.
A common threat in being connected over a standard network is security breach and hacking. Microtronics helps its users generate a key code, that is used to unlock all the devices that have been connected through IoT over the cloud.
This key code is rolling one and keeps changing on a regular basis.
Downsides of Internet of things
The Internet of Things is widely embraced has a great scope in Future tackling its technical and security challenges. A Lot of IoT startups have accepted that their sensor driven business structure has superior value in the minds of their customers. Legal liability frameworks have also been established by Governments, risk analyst and Businesses for the bad decisions made by these automated systems. Also the technical perspective, the cost of actuators and sensors must fall at the level, it sparks widespread use. Networking technologies and its standards should evolve at a point where data flows freely among the computers, sensors, and actuators. Software that analyze and aggregate data and its graphic display techniques should improve to the point, where the huge volume of data gets absorbed by decision makers and automated systems appropriately. There would be implications on organizational structures because of big alterations in information patterns, the way decisions are made, operations are managed and processes are conceived would have to get altered as well.
Internet of Things is influencing the lives of people positively, by altering the physical world itself into a type of information system. Sensors and actuators are been embedded in Physical objects starting from cars to pacemakers and they get linked with wireless networks using the same internet protocol to ease the lives of humans. When such embedded networks churn huge amount of data into computers for analysis, and its sensors sense the world around and communicate, they become tools for easing complex functions and help to multitask shifts. What is more revolutionary with IoT is that they deploy physical information systems and they work largely without human interaction.