What is the Internet of Things (IoT) and How it Works

 

The Internet of Things (IoT) is a network of interconnected computing devices, mechanical and digital equipment, objects, animals, or people that can communicate with or without humans over networks and have unique identifiers (UIDs). It is capable of transmitting data.

Things on the Internet of Things could be a person with an implanted heart monitor, a farm animal with a biochip transponder, a vehicle having sensors inside to warn the driver of low tyre pressure, or other situations. i.e. anything capable of receiving an IP address and sending data via a network.
The Internet of Things is a rapidly growing industry that includes consumer, business, and industrial segments. You could picture a refrigerator that alerts you when the milk is running low when you think about IoT as a consumer, but that is not what makes him revolutionary. Instead, refrigerators capture energy usage and generate data from across the grid, use that data to figure out how to best allocate energy resources to optimize overall energy usage, and communicate with consumers. It should benefit both utility companies.

History of the IoT

How the IoT works

These days, all IoT systems come with a few fundamental parts. First, there’s the thing outfitted with sensors. Any device that can gather data qualifies as a sensor, such as a camera inside a smart refrigerator or the accelerometer in a pair of smart running shoes. In other instances, sensors are combined to collect numerous data points. For example, a nest thermostat has a thermometer as well as a motion sensor, allowing it to change the temperature of a room when it detects that no one is present. The gadget has some sort of network connectivity (Wi-Fi, Bluetooth, cellular, or satellite) and a CPU where the data can be stored and analyzed to make sense of it. The data can then be used to initiate an action, such as placing an order for additional milk when the carton in the smart refrigerator runs out or automatically changing the temperature by a set of criteria.

What are the advantages and disadvantages of IoT?

IoT pros include:
Improved communication between connected electronic devices, saving time and money by sending data packets over connected networks.
Automation of tasks that help companies improve the quality of service and reduce the need for human intervention.
IoT cons include:
As the number of connected devices grows and as more information is exchanged between devices, so does the potential for hackers to steal sensitive information.

The company has to deal with a huge number (sometimes millions) of IoT devices, and it is difficult to collect and manage data from all these devices. If there is an error in the system, the attached device may be damaged.

IoT lacks international compatibility standards, making it difficult for devices from different manufacturers to communicate with each other.

One of the biggest disadvantages of IoT is security and privacy, as hundreds of billions of devices are interconnected through decentralized networks like AWS and Azure which is a growing target for attackers.

The Future of the Internet of Things

One day, the Internet of Things will become the Internet of everything. Objects in our world can recognize and respond to us individually at any time, so smart thermostats automatically adjust to your body temperature, or your home automatically locks at bedtime. You can even connect and allow things around you to react to your movements in real-time. It's already started. Google announced Project Jacquard in 2017. This is an attempt to create a connected wardrobe of the future.
Market data from Statista showed that there were 23 billion connected devices in 2018. By 2025, projections envision more than 75 billion. Part of that explosion is coming from people accustomed to always-on data-gathering devices sitting in their living rooms. This vision extends far beyond your home and clothing. It also enables smart offices, smart buildings, and smart cities. Smart hospital rooms have sensors to ensure doctors wash their hands, and air sensors help cities predict landslides and other natural disasters. Self-driving cars will be connected to the internet and drive on sensor-filled roads, and governments will manage energy grid demand by tracking household energy consumption via the Internet of Things. The growth of the Internet of Things could also lead to new forms of cyber warfare. Imagine a bad guy in the middle of winter disabling all his smart thermostats, or hacking into his internet-connected pacemakers and insulin pumps.