Internet of Things — Sizing up big — Bringing revolution in the world
Internet of things has become the concept of everyday things from the wearable to industrial machines. It uses sensors to gather data from all over the environment process it and finally take action on the processed data. It basically refers processing of the physical elements with the help of embedded sensors, actuators and other objects which has the facility to collect data from environment and transmit it. The parameter on which is works on is the energy optimization. How efficiently it can transfer the data from one place to another.
As advancement some of the insurance based companies are offering a plan that requires the drivers to install a sensor in their cars, allowing insurance companies to offer premiums on actual driving rather than projection.
There is a quite lot of use, for example, doctors can with the help of IOT , can monitor a patient’s disease from a long distance and can even generate reports and improve their management of diseases. And according to Mckinsey Global Institute research it has been found that doing continuous monitoring Vs periodic monitoring can reduce the treatment cost by 20 % which would be a quite lot helpful for the people living in remote areas.
As we have seen the example above as how IOT is going to help the generation but the devise that will transmit the information say doctor to patient or Car owner to Insurance company rely on the innovation from Semiconductor making companies. Highly integrated microchip designs, for instance, and very low-power functions in certain applications.
According to a survey in June 2014, it has been estimated that Internet of Things will be the most important source of growth over the next year beating big data and wireless computing. According to McKinsey Global Institute research survey it has been estimated that the impact of the Internet of Things on the global economy might be as high as $6.2 trillion by 2025.
Coming to the Market of IOT, the pace has been increasing the passing of time. Tools and products are now available. For example Apple has released Health Kit Developer tool based on IOT on its recent upgrade and also Google acquired nest to accelerate the development of Internet of things and its platform.
Some of the components of semi conductor which is the base component of internet of things are showing much more functionalities in a lower price as compared to others. Some of the processors like ARM Cortex M, use only about 1/10 of the power that many energy efficient high bit processor used two years ago. This technological capability is helping largely in making smart watches.
Also, the demand for the IOT products will increase over the period of time and as the technology will evolve and price goes down, each and every person will be excited to get the products based on IOT for ex. Smart Watches, just similar to the usage of the smart phones. The increment in the usage of smart phones has been increased from million to billion within a few years, the reason being increase in technology and decrements in price.
One of the Big Questions — Building Internet Things Apps
This is a big question for the developers. Some of the questions which revolve around the mind of the developers are as follows — What can be the best way to build an “IOT” app which can remotely control home appliances, vehicle, gather spatial data? What are the main skills needed for that? How to begin with it?
The starting edge for building an application for Internet of Things is the things themselves. It a plastic box with a blinking light with no screen, embedded OS and way of communication using different protocols. The next level is where the software and infrastructure comes into play. Next is the analytics tier where the processed and organized data is been taken. The final level is the application which the end user sees and communicates with. This application can be a mobile app or web app.
If one is trying to build an Internet of things application then the most important are the last two steps. That is the reason it is easier and it makes more sense to make app on top of a ready made Internet of Things.