Internet of things (IoT)

The internet of things is term referring to a network of physical items that are implanted with sensors, software, and other technologies for the main purpose of communicating and exchanging data with other devices and systems through the internet. These gadgets include anything from common domestic items to high-tech industrial gear. The advancement of modern technology as made the internet of things more practical and widespread. The technology includes access to affordable and cost-efficient sensor technology, connectivity, cloud computing platforms, machine learning analysis, and artificial intelligence.
Though the technology existed for numerous years now, it was not readily available or a feasible option for most people, but the technology becoming cheaper in recent years making IoT a viable option for manufacturers. Likewise, the widespread of more sophisticated networks protocols and cloud technology have made data transfer faster and as byproduct sensory technology have become more efficient. The cloud technology has been beneficial to both the business and customer by allowing sufficient and scalable cloud platforms and alleviate the need for research and development that can be costly. For instance, a company can enter the IT market and be prosperous from a profitable aspect while providing affording because there is already established cloud platforms.
The market for IoT is a very lucrative it has a potential just in 2011 the market value of $44.0 billion. Therefore, in the current economy the market is quite lucrative. Not to mention, internet of things (IoT). People who use the internet of things can live and work more intelligently and have total control over their life. IoT is crucial to business in addition to providing smart home automation devices. With the help of IoT, organizations can see in real time how their systems actually function, gaining insights into anything from equipment performance to supply chain and logistics activities.