Internet of things (iot)

Why IOT?

• Organizations in a variety of industries are using IoT to operate more efficiently, better understand customers to deliver enhanced customer service, improve decision-making and increase the value of the business.

IoT ecoystem

• An IoT ecosystem consists of web-enabled smart devices that use embedded processors, sensors and communication hardware to collect, send and act on data they acquire from their environments.
• IoT devices share the sensor data they collect by connecting to an IoT gateway or other edge device where data is either sent to the cloud to be analyzed or analyzed locally.

Top 10 Strategic IoT Technologies and Trends - GARTNER

• Trend No. 1: Artificial Intelligence (AI): “Data is the fuel that powers the IoT and the organization’s ability to derive meaning from it will define their long term success.”
• Trend No. 2: Social, Legal and Ethical IoT: These include ownership of data and the deductions made from it, algorithmic bias, privacy and compliance with regulations such as the General Data Protection Regulation. “Successful deployment of an IoT solution demands that it’s not just technically effective but also socially acceptable.”
• Trend No. 3: Infonomics and Data Broking: The theory of infonomics takes monetization of data further by seeing it as a strategic business asset to be recorded in the company accounts. By 2023, the buying and selling of IoT data will become an essential part of many IoT systems.

Top 10 Strategic IoT Technologies and Trends – GARTNER (cont’d)

• Trend No. 4: The Shift from Intelligent Edge to Intelligent Mesh: The shift from centralized and cloud to edge architectures is well under way in the IoT space. These mesh architectures will enable more flexible, intelligent and responsive IoT systems — although often at the cost of additional complexities.
• Trend No. 5: IoT Governance: As the IoT continues to expand, the need for a governance framework that ensures appropriate behaviour in the creation, storage, use and deletion of information related to IoT projects will become increasingly important.
• Trend No. 6: Sensor Innovation: The sensor market will evolve continuously through 2023. New sensors will enable a wider range of situations and events to be detected.