Internet of Things

What is the Internet of Things (IoT)?

The Internet of Things, or IoT, is a network of physical objects (cars, household tech etc.) that interact with each other and the environment through wireless connections. It's like a giant internet where everything can be connected.

Why is the Internet of Things important?

IoT is important because it has the potential to fundamentally change how we live our lives. The more things that are connected to the internet, the greater their interactions will be. For example, your car could send data about its engine directly to a mechanic, who could let you know if you should schedule an appointment now or wait until later.

What is the Industrial Internet of Things

The Industrial Internet of Things (IIoT) is a subset of this phenomenon that focuses specifically on the manufacturing industry. Companies including healthcare, transportation, logistics, oil and gas, including energy/utilities, have started adopting the Industrial Internet of Things (IIoT) which is used primarily for streamlining operational proficiency and automating processes, generating stronger demand, and staying ahead of market curves. Agility matters, that's why many manufacturers are turning to IIoT, allowing them to improve productivity and reduce costs by automating processes that were previously done by people.

What are the benefits of the Internet of Things?

There are many benefits of IoT for business:

  • Reduced waste and increased efficiency
  • Increased revenue from new products and services
  • Better customer engagement and satisfaction with personalised experiences, etc.
  • It can also help manufacturers reduce costs by optimising production lines or helping retailers offer personalised promotions based on what customers have.

Market Trends 2022:

  • The rising trend in the inclination of industries toward process automation
  • Evolution of business models across various industries that include Manufacturing
  • The rise in adoption of Cloud-Based Internet of Everything (IoE) Solutions.

Industry 4.0 and the Internet of Things – What is the difference?

Industry 4.0 and the Internet of Things are kind of like cousins—they're related, but they're very different in some ways, too. That's because the Internet of Things is a network that connects physical objects to the internet. Industry 4.0 refers to a movement of using high-tech systems in an industrial setting to make manufacturing processes more efficient, flexible, and productive.

It's easy to see how they overlap: Industry 4.0 relies on the Internet of Things, among other technologies, to make it work.

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