Wondering about the Evolution of the Internet of Things?
IoT which stands for The Internet of Things refers to a system of interconnected objects, which allows the transfer and collection of data over a wireless network, without any human intervention.
The possibilities in terms of business in this field are endless and vast. In recent times all businesses are motivated and driven by IoT.
IoT provides the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.
In this blog, we are going to talk about the history of IoT and how it has evolved over the years.
Father of IoT-
He is the father of IoT, who gave the term “the Internet of Things.” It describes a system where the Internet is directly connected to the physical world and does not need any human help or interference. The internet is connected to the physical world via virtual machines.
Kevin Ashton is also the founder of the Auto-ID labs along with a few others. The Auto-ID Labs are the leading global research network of academic laboratories in the field of the Internet of Things. The labs comprise seven of the world’s most renowned research universities located on four different continents.
Now that we know who is the father of IoT, let us now take a look at some of the key moments which defined the Evolution of the Internet of Things.
The Road ahead for IoT –
Till now one thing that we can conclude with the above information about the history of IoT is that the future of IoT has the potential to be limitless.
The potential of IoT is not just that it can make many devices work together, without any human intervention but also the very fact that it can store and secure huge amounts of data which can automate diverse business processes.
As networks and IoT platforms evolve to overcome these challenges, through increased capacity and AI, service providers will edge furthermore into IT and web-scale markets – opening entire new streams of revenue.
Future projections of IoT-
The image above shows a detailed view of IoT in the different sectors.
Below are a few statistics to show the future prospects of IoT-
- Gartner, Inc. believes that by 2020 the number of connected devices will reach 25 billion. The Internet of Things has become a powerful force for business transformation. And, its disruptive impact will be felt across all industries and all areas of society.
- According to Gartner, Inc., more than 50% of new business processes will contain devices connected to the internet.
- The total economic impact of IoT, including consumer surplus, is estimated to be between $3.9 and $11.1 trillion in 2025.
- According to Nasdaq, there will be close to 80 billion connected devices by 2025.
The future projections of IoT seem to be very promising and will definitely bring about a positive and good impact on society.
Note: The statistics mentioned in this section are taken from the following source- packtpub
Conclusion: The Evolution of the Internet of Things
The Evolution of the Internet of Things has drawn the attention of many researchers and developers from around the globe. IoT developers and researchers are working together to take IoT to another level and to benefit society to the highest level possible.
However, since it is a new field, many things still need to be taken into consideration and looked into for better results. In a few years down the line, IoT is definitely going to take over the world.
However, improvements are possible only if we consider the various issues and shortcomings in the present technical approaches.
The future of IoT is limitless and it has a lot of potential.
It will increase with solid research and work in this area. In the future, there will be smart applications for smarter homes and offices which will make this world a better place and will make our day-to-day lives easy for you, me, and the entire human race.