The Internet of Things (IoT) is a concept formulated at the beginning of the millennium to connect objects to the Internet. Conceived for a more direct integration between the physical world and computer-based systems, its efficiency consists in retrieving concrete data and information and use them to give economic benefits as well as to improve everyday life.
In 2013, the Global Standards Initiative on Internet of Things (IoT-GSI) defined the IoT as “the infrastructure of the information society.” This description focuses on the main advantages provided by the communication connectivity between the Internet and all the devices integrated with specific electronics: the possibility to gather information and to exchange data in a fast and smart way.
Indeed, the relevant aspect of IoT is not only related to the kind of objects involved, but to the kind of information retrieved. This is the reason why IoT is also called Internet of Everything. By interfacing directly with people and their experience of a product (both an object or an application), the accuracy of data is granted.
The IoT is developing as more and more enterprises are getting involved in smart projects concerning business intelligence tools. Cisco, the largest networking company in the world, estimates the IoT ‘will consist of 50 billion devices connected to the Internet by 2020’.
So, what are the benefits of the Internet of Things and why companies should invest in the IoT? Here is a list of the top 10 reasons to develop IoT projects.
1. Support innovative business
IoT techniques support innovative businesses by allowing the possibility to better assess their customers’ feedback while using their products. The measurability of data is certainly an advantage for accelerating the (re)positioning of a product on the market.
2. Tailored solutions
IoT applications can be used in all sectors and in all kinds of daily activities. Therefore, a company can start developing its projects by focusing on its own products. That is the reason why Microsoft talks about “Internet of Your things”.
3. Efficiency and productivity
Companies using IoT solutions, take advantage of industrialized services given by smart machines and optimized operations. Through an enhanced analytics control, they improve also their efficiency and productivity.
4. Policy makers attention
Being an evolving technology but also an incentive for innovation, IoT is attracting policy makers attention on the creation of new and specific policy and regulatory frameworks. Governments are providing funding and advantages to IoT start-ups.
5. Everyday solutions
IoT techniques are effecting large-scale change in how people live and work. An example is given by the principal means used today to bring the IoT to consumers: the smartphone. Both at home or at work, at the office or in the warehouse, smart devices and robots are improving everyday life and activities.
6. Next production revolution (NPR)
The IoT will probably facilitate what the Organisation for Economic Co-operation and Development (OCED) calls Next production revolution. In an interesting paper , IoT technology represents the promise for ‘higher productivity, greener production, and new products, services and business models that can help meet global challenges.
7. No, the IoT is not replacing humans
Despite many manufacturing sectors are becoming increasingly robotic, IoT devices are not replacing human labor. Apart from the management and projecting activities, the adoption of self-driving robots requires human training, maintenance and quality control. So, people will still be needed in the production processes but they will be helped by IoT solutions.
8. Connect new devices
The IoT gives the possibility to connect, manage and control a lot of devices and objects that it was impossible to connect in the past and this is possible thanks to the wide variety of existing platforms and protocols.
9. Collect new data
With the connectivity provided to new assets, it is also possible to collect data that have never been available before. This helps enterprises to retrieve new information, to develop new features for their products and to earn new revenues.
10. Automotive industry
The transport industry is one of the sectors most affected by interconnectivity. IoT solutions have been embedded into automated and connected vehicles, thus enhancing the efficiency of eMobility.
ESB is a perfect example of innovative business investing on IoT solutions for eMobility. Our connectivity systems for e-bikes satisfy the necessity for data retrieved from the vehicle and set to a cloud platform. By means of ESB.App, manufacturers and end-users can access info both in real time and remotely.
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