(Newswire.net — October 11, 2018) –The proliferation of smart devices that are advertised as IoT has seen more of the question- What is Internet of things. IoT is said to be one innovation that will change the consumer market in the next few years. How will it achieve that though? What role does IoT have to play in everyday life? IoT is an ongoing revolution and to comprehend it fully, one must be clear about what qualifies as the internet of things and the potential it holds.
What is Internet of Things?
IoT refers to the interconnectivity of devices with the internet. Using processing chips and wireless networks, different appliances are built with the capability to connect to the internet and gather and share data. It means that anything that can be fitted with a processor can be an internet of things device. These products are also fitted with sensors that give them the power to communicate with other devices and humans around them. Doing this makes appliances ‘smart’ and boosts their functionalities dramatically.
A simple refrigerator that is connected to the internet can allow a homeowner to order groceries when they run out straight from the device. A thermostat that is linked to an app on your phone that allows you to control the heating and cooling off of your home from wherever you are is an IoT device. Only a few years ago, IoT was a mere concept. Now, there are top internet of things companies that focus on perfecting smart devices from simple objects like watches to driverless cars.
The Value of the Internet of Things
Why are manufacturers investing in smart devices? What difference do they make for consumers? The high responsiveness of IoT is their USP. The sensors that are incorporated into IoT appliances make them sensitive to the environment, allowing them to respond accordingly. Take a smart AC unit that detects when the temperature is high and kicks in to cool the place then turns off when a certain degree has been attained. Such responses reduce the amount of work that humans have to put in when running smart devices.
The collection of real-time data is another advantage that top internet of things companies get from their creations. Smart products gather information and send it back to the manufacturer, making it easier to gauge the performance of a device and detect any potential malfunctions before they escalate.
Companies are investing more in IoT due to the enormous potential that the technology has shown. It is expected that by 2025, the number of IoT devices will be at 55 billion up from 2017’s 9 billion. Both consumers and businesses get great value from the internet of things appliances, so spending on these products is predicted to spike exponentially. The IoT Solutions World Congress is one place that showcases how far the sector has come and where it’s heading. 2018’s event will be held from October 16 to 18 in Barcelona, and the top internet of things companies will be there.