The Internet of Things is an information carrier based on the Internet, traditional telecommunication networks, etc. It enables all common physical objects that can be independently addressed to achieve interoperability. The objects of their connection are the digital world and the physical world. Today, the Internet of Things has become the consensus of more and more people following the Internet. In today's weakened global economy, it has also become a new engine for promoting economic development.
According to IoTEvolutionWorld, current expenditures on animal networking are mainly for IT-based programs, including data center management and intelligence and security observations. According to 451Research, as companies become more familiar with the Internet of Things, their applications will be more adopted by companies.
More than 65% of IT and IoT decision makers plan to increase IoT spending in the next year, and average spending will increase the total by nearly 18%. Although the current use cases are mostly IT applications, the future plans will be locked in industrial applications. General Electric (GE) Siemens and Schneider and other large industrial manufacturers are also investing in the Internet of Things platform.
PwC also pointed out in the report that many reasons are increasing the adoption rate of the Internet of Things and growing. The first is the collection of IT and operational technology (OT). With the beginning of the interconnection of operations and information technology, a large amount of previously unavailable data began to appear. For manufacturing, its benefits include more information for decision making, lower operating costs, and improved processes.
Second is Artificial Intelligence (AI). AI allows data to be executed and used to support the improvement of IoT applications that can drive prediction, guidance, and adaptive analysis. AI will also continue to increase productivity and expand business opportunities.
The third is the large number of connected devices. IDC estimates that there will be 80 billion connected devices by 2025. The devices will generate 180 zbytes (Zettabytes) of data each year, compared to 4.4 and 44 zbytes in 2013 and 2020 respectively.
The fourth is cloud and fog operations. The fog computing and edge computing will further increase the growth of animal networking, further expand cloud capabilities to connected devices, and enable the implementation of computing, storage, and network services between terminal devices and cloud computing and data centers.
The commentary pointed out that the Internet of Things ecosystem and supporting technologies are leading the industry towards digital transformation, and companies will adopt the Internet of Things to support digital transformation in the following ways.
The first is to increase efficiency and reduce costs. The Internet of Things can reduce costs and increase productivity through automation and process integration. The insights gained from data and system integration of sensor integration can provide opportunities for operational improvements in many areas such as inventory and human resources, security, energy and security compliance.
The second is to discover new business opportunities. After analyzing the data generated by the Internet of Things, operators can better understand customer use cases and preferences, and adding ideas that have not been found in the past to products can become new products, services, and ways to create value for customers.
The third is better customer service. Big data analytics from the Internet of Things can help companies build better platforms, tools, or strategies. Accessing complex and real-time data can also help companies streamline workflows and better cope with emergencies.
Summary: Not so much the Internet of Things is a technology, it is as if it is an era, the Internet of Things through the integration of related technologies to form a concept of the times, is an era based on technology. The future of the Internet of Things is unlimited, and the era of internet of things is also expected.