Internet Of Things: An Insight On What Does It Bode For The Future?

Internet of Things can be described as an extended form of internet connectivity, between physical devices and everyday objects which are embedded with internet connectivity, electronics, and sensors and so on. Internet of things or IoT allows devices to communicate and interact with one other and even be remotely controlled and monitored. 

With the concept of smart homes gaining more traction, the Internet of Things is no longer a thing of the future. IoT has been transforming almost every sector of the economy. In fact, recent studies show the number of devices connected to the internet is likely to grow to 20.4 billion in 2020. Keeping this in mind, manufacturers have started making sure that their products can be a part of the IoT network in order to cater to evolving customer demands. 

IoT devices can be classified based on their usage, as seen below: 

·      Mobile Computing

For e.g., smartphones, tablets, laptops, etc.

·      Wearables

For e.g., Fitness trackers, smartwatches, cameras, etc.

·      Implantable

For e.g., smart pills\dose, health monitoring devices, etc.

·      Smart home enablers

For e.g., Coffee makers, doorbells, alarms, thermostats, refrigerators, etc.

·      Vehicles and transportation infrastructure

For e.g., GPS, self-driving cars, traffic monitoring, etc. 

An important fact one needs to consider in relation to the Internet of things is the fact that the data collected from billions of devices across the world needs to be governed, especially when many of these devices are used by companies and governments across the world. It is essential to understand the details pertaining to the ownership of the data as well as the ethics that come into play while data collected from other devices. Another challenge that will not be faced is dealing with regulatory requirements that will be without a doubt updated frequently. With the fast pace at which technology has been evolving in recent years, it is essential to keep regulations in place to ensure that data collected through IoT is not misused in any manner.