IoT applications will a play major role in tech world in the upcoming future as companies and industries will rapidly moving towards digitization and automation.
Overview: Before starting with our topic here is a short overview on Internet of Things then each and every application will be in depth providing detail perspective.
- Introduction to Internet of Things.
- Market and Business.
- Number of Connected Devices.
A. INTRODUCTION TO INTERNET OF THINGS
The Internet of Things (IoT) describes the network of physical objects—“things”—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet.
IoT consists of several functional components: data collection, transfer, analytics, and storage. Data is collected by sensors installed on mobile, end-user hardware like phones, robots, or health monitors.
Then, the mobile data is sent to the central cloud server for analytics and decision-making, such as if a machine requires proactive maintenance to prevent unexpected breakdown or if a patient needs to come in for a check-up.
B. BUSINESS & MARKET
According to the Boston Consulting Group, by 2020, companies will be spending around 310 billion USD a year on the Internet of Things, with much of this spent in the manufacturing, energy and transportation industries.
By integrating all of our modern day devices with internet connectivity, the IoT market is on pace to grow to over $1102.6 Billion annually by 2026.
C. CONNECTED DEVICES
According to Business Insider report, There Will be 41 Billion IoT Devices by 2025. 5G networks will figure into many companies’ IoT projects before the year is out, with 39% of respondents to our survey saying they plan to support 5G in IoT products and services before 2021.
- After knowing about IoT, its market revenue opportunities and number of devices to be connected in the future, now let’s discuss on various application of IoT.
- With newer wireless networks, superior sensors and revolutionary computing capabilities, the Internet of Things could be the next frontier in the race for its share of the wallet.
1. CONNECTED HEALTHCARE
Evolution of IoT in healthcare has considerably brought significant changes in healthcare sector.
- Empowered doctors to deliver superlative care by remotely monitoring the patients using IoT enabled devices.
- Increased the rate of satisfaction and engagement of patients as interacting with doctors has become way more comfortable and efficient.
- Transformed the healthcare industry and is highly beneficial for doctors, patients, families, hospitals, and even the insurance companies.
- End-to-end connectivity to the workflow of patient care.
- It can enable the machine to machine communication, interoperability, data movement, and information exchange that allows the healthcare industry to deliver efficiency.
- Cloud Data and Predictive Analytics: IoT devices allow this information to be collected, sorted and turned into useful predictions, through the use of predictive analytics.
- Patient Assistance and Improved Care devices that measure blood glucose, body temperature, Remote monitoring for patients who have left the hospital but still require care etc
- Patient Privacy
- Security Breaches: As a massive DDoS (Directed Denial of Service) attack in October of 2016 proved, unsecured IoT devices can be turned into a “bot-net,” which enables hackers to attack servers from hundreds or thousands of different IP addresses.
1A. PHARMACEUTICAL INDUSTRIES
Internet of things (IoT) provides the pharmaceutical industry with a selection of new opportunities, including; better control of drug manufacturing, preventive maintenance of equipment, and improved supply chain management.
In particular, IoT sensors and trackers can enable optimal conditions for handling biomaterials and chemicals, ensuring flawless equipment operation, and even assisting in drug fraud prevention.
2. SMART HOME
Smart home stands out as the most prominent IoT applications. The IoT Analytics company database for Smart Home includes 256 companies and startups.
More companies are active in smart home than any other IoT applications. The total amount of funding for Smart Home startups currently exceeds $2.5bn.
Examples of smart home technologies
Aspect of life where technology has entered the domestic space has seen the introduction of a smart home alternative:
- Smart TVs
- Smart lighting systems
- Smart thermostats
- Smart refrigerators
- Smart locks and garage-door openers
- Smart security cameras
- Pet care can be automated with connected feeders.
- Houseplants and lawns can be watered by way of connected timers.
- Allowing owner to monitor their homes remotely.
- Home automation also helps consumers improve efficiency.
- With home automation, energy, water and other resources are used more efficiently, which helps save both natural resources and money for the consumer.
- Major issue is smart home security.
- Many smart home opponents also worry about data privacy.
- No standard for home automation yet to to ensure interoperability and a seamless user experience.
3. SMART CITIES
The smart city is derived from the “Smart Earth” theme report released by IBM in New York in 2008, meaning that a new generation of information technology is used in various industries.
A smart city is an urban area that uses different types of electronic Internet of things (IoT) sensors to collect data and then use insights gained from that data to manage assets, resources and services efficiently.
Smart city spans a wide variety of use cases, from traffic management to water distribution, to waste management, urban security and environmental monitoring.
Its popularity is fueled by the fact that many Smart City solutions promise to alleviate real pains of people living in cities these days.
IoT solutions in the area of Smart City solve traffic congestion problems, reduce noise and pollution and help make cities safer.
- WiFi trackers mounted in streetlights, allowing for the optimization of traffic flow, reduced energy usage and decreased carbon emissions.
- Sensors connect the Ministry of Justice to police stations, hospitals and the like, and other devices allow drivers to detect open parking spaces.
- Smart trash cans.
- Reduced environmental footprint.
- More effective, data-driven decision-making.
- Smart technology can provide cities with predictive analytics to identify areas that need to be fixed before there is an infrastructure failure.
- Leveraging technology advances and pursuing private/public partnerships help reduce criminal activity.
- Technologies such as license plate recognition, gunshot detectors, connected crime centers, next-generation 911, and body cameras all give law enforcement an edge while on the job.
- Concerns about data privacy and security.
- Financing by the government, since it requires a significant investment in technology.
- Real estate is expensive. They are more complex to execute and build.
- Business models to roll out smart technologies are still under developed.
- Greater technological gaps between cities and realities. Not all cities can assume such a cost.
Implementation of the electric vehicle in cities and other motorized elements, such as motorcycles, and the respective public and private recharging stations.
3B. SMART GRID
Smart Grids are interconnected intelligent networks, which have a two-way flow of data between the Service Center or Control Center and the user who lives in the city.
3C. SMART WASTE MANAGEMENT
The most common IoT application in waste management operations currently is the automated route optimization of garbage pickup trucks.
IoT applications in waste management are improving this scenario by giving sanitation workers insight into the actual fill level of various disposal units, whose loads can vary by the day, the week, and the season.
Sensor-enabled and internet-connected garbage bins can collect information on fill level, temperature, location, or whatever data types the sensors gather and the sanitation department finds useful.
3D. SMART METERING
It is the intelligent measurement of the energy expenditure data of each user, by means of remote meters where the readings are made remotely and in real-time.
3E. SMART SENSORS
Smart Sensors are going to have the function of summarizing each and every one of the precise data to make the city more intelligent. They are an essential part of sustaining connectivity and information, and making each subsystem perform its function.
I have also written a post ‘Smart Audit of Concrete Structure using IoT’ do check out post here.
Smart Audit Monitoring building structure is an IoT based application to make buildings smart enough to provide its health data to user and replace manual audit process of poor concrete building structure.
3E. SMART LIGHTING
Smart lighting is playing a pivotal role, unlocking the power of the IoT and smart building applications. Lighting is ubiquitous throughout all buildings and every luminaire is connected to a source of power.
It is the perfect conduit for collecting data on what is happening in the building at any given time. Sensors are embedded in the luminaire making each light point a data node on the network.
4. ENVIRONMENTAL MONITORING
The applications of IoT in environmental monitoring are broad − environmental protection, extreme weather monitoring, water safety, endangered species protection, commercial farming etc.
In these applications, sensors detect and measure every type of environmental change. Below project is one of project ‘AirIoT ’ a air pollution monitoring station built to track CO2, Air quality of a reason.
5. CONNECTED CARS
In Connected cars 5G and IoT will affect the auto industry, your next new car won’t be self-driving, but it will be a mobile IoT device that senses its local environment and communicates with cloud-based platforms.
The modern automobile is fast becoming a sensor-laden mobile Internet of Things device, with considerable on-board computing power and communication systems devoted to three broad areas: vehicle location, driver behaviour, engine diagnostics and vehicle activity (telematics); the surrounding environment (vehicle-to-everything or V2X communication); and the vehicle’s occupants (infotainment).
6. SMART PRECISION AGRICULTURE
Smart Farming is a farming management concept using modern technology to increase the quantity and quality of agricultural products.
Farmers in the 21st century have access to GPS, soil scanning, data management, and Internet of Things technologies.
By precisely measuring variations within a field and adapting the strategy accordingly, farmers can greatly increase the effectiveness of pesticides and fertilizers, and use them more selectively.
Due to the remoteness of farming operations and the large number of livestock that could be monitored the Internet of Things could revolutionize the way farmers work.
Following are the benefits or advantages of Smart Agriculture:
- It allows farmers to maximize yields using minimum resources such as water, fertilizers, seeds etc.
- Solar powered and mobile operated pumps save cost of electricity.
- Smart agriculture use drones and robots which helps in many ways. These improves data collection process and helps in wireless monitoring and control.
- It is cost effective method.
- It delivers high quality crop production.
Drawbacks or disadvantages of Smart Agriculture
- The smart agriculture needs availability of internet continuously. Rural part of most of the developing countries do not fulfil this requirement. Moreover internet connection is slower.
- The smart farming based equipment’s require farmers to understand and learn the use of technology. This is major challenge in adopting smart agriculture farming at large scale across the countries.
7. SMART SUPPLY CHAIN IoT APPLICATIONS
- Supply chains have been getting smarter for some years already. Solutions for tracking goods while they are on the road, or getting suppliers to exchange inventory information have been on the market for years.
Smart Supply Chain aims at bringing awareness for efficient decision-making, by tapping the data gathered by IoT devices and providing detailed visibility of products / items, all the way from manufacturer to retailer.
8. SMART RETAIL IoT APPLICATIONS
Smart retail refers to the hybridization between traditional shopping methods and modern “smart” technologies.
Through the Internet of Things, data is accumulated by way of communication between implanted devices and computers. As a result, consumers may enjoy a more personalized, faster, and smarter experience.
This can manifest as individualized coupons and smartly curated inventories.
9. WEARABLES TECHNOLOGY
Wearable IoT devices, namely smartwatches and fitness trackers, are among the most conspicuous examples of Internet of Things (IoT) technology.
How people use wearables reflects a broader trend of people using IoT devices as standalone technologies, rather than within an ecosystem of connected devices. As a result, IoT technology has not fully penetrated consumers’ daily lives.
10. INDUSTRY 4.0 & MANUFACTURING
Connected industry is the largest IoT segment in terms of number of IoT projects. This segment covers a wide range of connected “things” such as printing equipment, shop floor machinery, cranes or entire mines. One of the largest sub-industries is Oil & Gas.
Industry 4.0 (I4.0) and Industrial Internet of Things (IIoT) are both terms describing potentially disruptive technology trends in industrial settings, writes Matt Wopata, a senior analyst at IoT Analytics in an excerpt from the firm’s upcoming ‘Connected Industry and Industry 4.0 Market Report 2018-2023’.
11. AVIATION INDUSTRY
An equipment tracking app provides an airline’s engineers with a live view of the locations of each piece of maintenance equipment. By increasing the efficiency of engineers, this IoT application is not only generating significant cost savings and process improvements, but also impacting the customer experience in the end through more reliable, on-time flights.
Following are airlines investment in IoT:
- Fuel/Engine monitoring
- Smart Baggage tagging
- Equipment monitoring
- Single token (Passenger ID)
- Monitoring Asset Locations
12. BUSINESS & PRODUCT SERVICES
Business Services – A facility services company uses their multi-device IoT software to enable support personnel to receive alerts about service issues and take immediate action.
By aggregating data from thousands of sensors in devices like coffee machines, soap dispensers, paper towel dispensers and mouse traps rather than doing manual checks, the application has significantly cut costs and improved service levels
13. MEDIA, ENTERTAINMENT & ADVERTISEMENT
An entertainment design and production firm uses sensors in turnstiles of venues to understand the foot traffic of people at events.
Their IoT application visualizes the attendee traffic patterns in real time to help sponsors understand the best places to advertise, and to ensure the attendee count stays within the fire code compliance of the venue.
14. BANKING, FINANCE & BLOCKCHAIN
Blockchain at its core is a cryptographically secured, distributed ledger that allows for the secure transfer of data between parties.
Traditional IoT systems are dependent on a centralized architecture. Information is sent from the device to the cloud where the data is processed using analytics and then sent back to the IoT devices.
Smart contracts in blockchain networks will allow devices to function securely and autonomously by creating agreements that are only executed upon completion of specific requirements.
Finally, with a centralized network, the risk of a single point of failure disabling an entire network is a very real possibility.
15. TELECOMMUNICATION & 5G
In order to flourish in IoT, cloud, and AI intensive environments, telecom communication service providers (CSPs) will have to take initiative as leaders in technology development.
One of the most common IoT Telecom use cases is asset management and remote system monitoring. Telecom operators can also utilize their infrastructures to offer new services such as tailored consumer applications, wide-area IoT solutions, and IoT managed services.
16. SECURITY & SURVEILLANCE
By harnessing the power of IoT for your security and surveillance solutions, you enable building owners, organization managers, and security professionals to:
- Manage and control surveillance devices remotely to monitor all aspects of a facility.
- Make smarter decisions about the best course of action to take based on real-time security conditions.
- Determine when there is a false alarm without having to physically inspect the location or unnecessarily dispatch law enforcement.
- Collect and analyze data to make important improvements to security processes and systems.
17. ROBOTICS & AUTOMATION
The IoT and robotics communities are coming together to create The Internet of Robotic Things (IoRT).
The IoRT is a concept in which intelligent devices can monitor the events happening around them, fuse their sensor data, make use of local and distributed intelligence to decide on courses of action and then behave to manipulate or control objects in the physical world.
18. CONNECTED CLASSROOM
IoT in schools means a better-connected and more collaborative future for education.
IoT devices give students better access to everything from learning materials to communication channels, and they give teachers the ability to measure student learning progress in real-time.
19. CONSUMER IoT APPLICATIONS
No industry felt the heat of the voice assistant battle more than Consumer IoT (CIoT), in which voice assistant integrations became the primary focus for any CIoT product-centric company.
For many Americans, the entry point into the Internet of Things has been Amazon and Google’s smart speakers.
Voice control is one of the primary drivers of smart home market growth with the number of home voice devices projected to reach 275 million by 2023.
20. EMBEDDED IoT PRODUCTS
A leading beneficiary of the rapid growth of the IoT will be the overall embedded systems market including providers of hardware, software, and operating systems
It is a network of things and this things is actually an Embedded Device which consist of electronics, controllers, processors, sensors, software’s and a network to connect all these things together.
The embedded system market is projected to grow from USD 86.5 billion in 2020 to USD 116.2 billion by 2025; it is expected to grow at a CAGR of 6.1% from 2020 to 2025.
Hope you liked this post, these were top 20 most popular IoT applications what will see a tremendous growth in upcoming future. We will see combination of IoT with many other technologies too like AI+IoT=AIoT, IoT+Blockchain etc. Smart home is currently the most trending iot application till know. We will see many IoT cloud platforms like Azure, GCP, AWS in near future. Edge analytics in IoT too have upstream future in automation.
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