Internet Of Things

 Happy New Year Everyone !

So, we have finally entered the Year 2016, but 2015 did saw  huge innovations when Technologies are concerned.

The Year 2015 will surely be remembered as an extension to what is called as “The Internet of Things”! The avalanche of IOT from the thinking, creative part and from the back of the stage of the Technology world towards becoming the mainstream.

Source: Google

The consultancy giant “McKinsey” did an estimation that the IOT{Internet of Things} is actually a world where approximately 50 billion devices will be connected to the internet which can actually create a new economic value to all the business and the societies.

Source: Google

The term “Internet of Things” is not new as it traces its origin to 1999, but it is only over the last year or so that the realization of its transformation potential has actually reached the business communities and the general people. The number of research reports, thesis, blogs, conferences and various articles devoted to this very topic has evolved and is exploded. With the media making the connection between the smart-home and the connected automobile, IOT has begun to become part of the popular parlance.

After the evolution of things over the internet like E-commerce, Social Media, File Sharing or should say after the introduction of Web 2.0, the next generation of the internet is connecting things and devices.

The Devices mentioned actually range from tablets, phones, wearable techs such as smartwatches, security cameras to automobiles and all the machinery used for manufacturing and production purposes. 

 

Source: Google

 It is expected that there will be around 14 billion connected devices by the year 2022. Connection will result in incoming of the data, “BIG DATA” which will open up new insights and KIAs {Key Insight Analysis}, business models and revenue streams. All the analysis and the insights gained from this data in turn will give rise to the new services that can actually complement the conventional product business.

The new and improved connected world will impact consumers and the business world alike. As for instance, it changes how consumers and companies come together. Not only meeting at the point of sale, the relationship will become a continuous interaction process which will last as long as the customer keeps using the product and the corresponding services hence giving the intangible things a tangible touch.

The Private users of connected devices will see the new services enriching their relationship and their interaction to the products thus offering a higher quality of life, comfort, security and fun. Corporate users of these services will get benefit from efficiency gains, cost cutting and saving and thus managerial approach towards the economics and hence better allocation of the resources.

I welcome the Internet of Things to 2016 and beyond and am sure you guys will also welcome the same.

Lets us all wait and see as how this new technology revolution continues to transform our lives.

Thanks!

Sources: McKinsey & Bosch