Internet of Things is fueling the next industrial revolution of intelligent connectivity. IoT has become an integral part of all businesses, which are looking to embrace digital transformation. IoT is quickly emerging as a leading source of data the real-time insights for critical asset management, healthcare management, system performance tracking, and many more. However, most businesses are still struggling to utilize the power IoT to its fullest. As billions of devices are getting connected to the internet with every new IoT applications, generating massive streams of data, CIOs and decision makers must start thinking about maximizing their ROI by implementing various IoT solutions.
Internet of Things provides a host of business opportunities for organizations and governments to design, develop, and deploy smart connected devices. Many government institutes, enterprises, and even consumers are using the power of IoT, Big Data, and Artificial Intelligence for creating strategic business models for enhancing the quality of human lives.
One of the biggest advantages of IoT is in healthcare, wearable devices like smartwatches or fitness trackers help to collect vital information like monitor sleep patterns, measure heart rate, and more. The wearable devices allow tracking the irregularities that are otherwise imperceptible, monitor baby cribs, and even provide emergency care to the elderly.
Technology companies see the potential for a variety of applications and the adoption of these functions to improve human lives. For example, recently Apple has announced the new features of their smartwatches that include measuring glucose levels, tracking blood pressure, and monitoring heart health status.
As with many other technologies, using IoT the vendors, implementers, operators, policy-makers, and regulators are aiming to maximize the benefits of connected devices while minimizing potential risks to security and privacy.
How big is the IoT market?
As the number of connected IoT devices grows, the amount of data generated by these devices will also grow. According to a new IDC forecast, the growth in connected IoT devices is expected to generate 79.4ZB of data in 2025. “IoT” has been the buzzword for years but past decade we have seen its increased adoption by businesses. As per Gartner, connected endpoints for IoT has nearly reached 5.8 billion in 2020.
The article was originally published at eInfochips.
