IoT is Driving Industry Transformation: Renu Chawla
From homes and industries to enterprises, Internet of Things has become common place in all walks of life. Connecting everything and everyone, IoT is making the world smarter and better than ever before. According to NASSCOM, the IoT market in India is expected to reach USD 15 Bn by 2020, which will be roughly 5 percent of the global market.
The Internet of Things (IoT) has the power to change our world. And while we are starting to see its incredible impact:
1. Industrial Sector - IoT has helped in increasing operational efficiency the primary objective of Industrial sector and helped in reducing maintenance costs.
2. Home/Office - IoT devices adapt to the living habits of the people as well as the equipment used for cooling and heating to determine the optimal settings for both comfort and savings. The offices have also incorporated many of the same energy saving IoT as the home.
3. Healthcare - Personal fit devices have been around for some time but they are advancing by collecting more data and being connected to the internet to share and communicate information. IoT can provide sensors that collect information that can be used to predict maintenance needs before such devastating events occur. The large data set could reveal patterns and correlations regarding our health that expensive small sample studies presently cannot. Hospitals are just beginning to take advantage of these technologies.
4. Cities/Infrastructure - IoT provides sensors that collect information which is used to predict maintenance needs before any devastating events occur.
5. IT - The increasing digitization and automation of the multitudes of devices deployed across different areas of modern urban environments are set to create new security challenge. The impact of the IoT on storage infrastructure is another factor contributing to the increasing demand for more storage capacity.
IoT present organizations with tremendous opportunity to create innovative products and services, drive down operational costs and serve up additional revenue streams. IoT has created new markets as data from billions of connected devices unleashes an era of services innovation that will generate new revenue streams for manufacturers and those who serve the industrial sectors.
With the changing trend in industrial manufacturing and companies across the world, they are embracing new approaches to automation. The global demand for IIoT applications is accelerating and will keep on accelerating in the years to come. The Industrial Internet of Things will transform companies and countries, opening up a new era of economic growth and competitiveness. We see a future where the intersection of people, data and intelligent machines will have far-reaching impacts on the productivity, efficiency and operations of industries around the world.
IIoT helps monitor not just connected machines and equipment but each and every process on your shop floor to gain unprecedented operational visibility. The solution brings in advanced capabilities such as prescriptive analytics and integrated supply chain management to analyze data across machines and make the process more efficient by making smart decisions on time. One of such project delivered by our experts helped the customer in increasing the production by 30 percent.
IoT applications for Smart Cities
The IoT’s effects are being felt across a wide array of industries, and its set to transform how cities operate. Smart city initiatives will lead to vast changes in areas as diverse as water management, energy conservation, transportation, public safety, law enforcement and the environment. Building a smart city not only helps the environment and saves resources, but also significantly increases the quality of life.
Smart homes filled with connected products are loaded with possibilities to make our lives easier and more convenient. The requirement for Office and Home automation arises due to the advent of IoT. The smart home/office gadgets interact, seamlessly and securely; control, monitor and improve accessibility, from anywhere across the globe. These smart automation devices happen to have an interface with IoT. IoT has enabled cities that have installed smart parking technology as well as smart streetlights and sensors for monitoring air quality and noise.
With IoT, you can easily create rules – both simple and complex to detect incidents and safety violations. Whether you have a single large or small facility to manage or thousands worldwide, IoT solutions are designed to handle it in stride. It can accommodate an unlimited number of staff, users, managers and administrators as well as assets, vehicles and remote sensors.
With the IoT, big data has become even bigger and more dynamic, amplifying both the opportunities and the challenges. IoT data that’s collected for analytics often includes sensitive information. That data should be treated like an asset – governed, secured and safeguarded for privacy. Data breach destroys consumer trust and can devastate an enterprise’s reputation and business.
In IoT space data needs to be protected using different solutions to fix security issues:
1. IoT network security
2. IoT authentication
3. IoT encryption
4. IoT security analytics
5. IoT API security
Thus, IoT will be the future of the way businesses, governments, and consumers interact with the physical world. Businesses will be the top adopter of IoT solutions. They see three ways the IoT can improve their bottom line by lowering operating costs, increasing productivity and expanding to new markets or developing new product offerings.