IoT Networks - the impacts of the technology in the near future of industries
Otavio Carneiro Correa
Entrepreneur ║ CEO ║ Corrosion Specialist ║ Vidya Technology
The Internet of Things (IoT) can be roughly described as the ability of devices to communicate with each other without human interference. It is precisely this capability that makes the IoT market one of the fastest-growing industries of 2022. In fact, the global market for IoT will double in the next three years, achieving between $2.8 trillion to $6.3 trillion. But why is this technology so important??
The concept was born in 1999 by Kevin Ashton; as a result of research carried out in the Auto-ID laboratory of the Massachusetts Institute of Technology and was only possible thanks to the access of:
In addition to these, we must mention the advances in Artificial Intelligence that were essential in the applicability and development of IoT and enabled the Internet of Things to be what it is today.?
How IoT works?
IoT devices contain sensors and mini-computer processors that act on the data collected by these sensors. They can be installed from specific pieces of equipment to even human bodies, and are connected through the internet, Bluetooth systems, or dedicated networks. After all the data is collected, it is transferred through a hub or gateway, and after being organized in interfaces, such as? Digital Twin platforms, the data is available for users to make decisions remotely. Some of the main applications using this technology are:?
Healthcare: One of the sectors that grew in the past years was the healthcare industry. Using glucose monitoring for diabetes, or heart monitors, such as pacemakers, help patients to monitor their chronic diseases.?
Human Productivity: Through sensors installed in meeting rooms or even industrial plants to monitor human activities can be combined with smart scheduling systems to improve space management.
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Energy Management: One of the biggest challenges for industry leaders is to improve their energy efficiency. IoT sensors can be a great ally to monitor, for example, the equipment consuming the most energy and work on solutions that could be applied in this scenario.?
Operation Optimization: Besides the improvement in energy management and human productivity, optimization in operation is a long-known benefit of IoT for industrial plants. The management and maintenance of assets made remotely by monitoring their activities are being adopted on a large scale. According to McKinsey & Company, "the greatest potential for value creation in industries is to optimize operations in manufacturing plants"?
Overall, operation-management applications in manufacturing could account for around 32 to 39 percent of the total potential IoT economic value created in the factory setting, or around $0.5 trillion to $1.3 trillion, by 2030.
The research made by McKinsey & Company indicates that besides operation-management applications, human-productivity clusters will be responsible for around 56% of IoT economic value by 2030, followed by health, estimated at 15% in the same period.?
The IoT impacts on industries' future??
The arrival of 5G networks could mean a technological turning point for industries deploying smart tools, equipment interconnection, and adopting the Internet of Things (IoT) in industrial processes. In fact, it is expected that by 2025 there will be at least 1.5 billion 5G subscribers globally, with almost half of 5G and IoT sales linked to Industry 4.0 applications, such as in sensor, computed vision, and other autonomous systems in factories.?
5G networks nowadays are costing up to three times more than 4G, but the prices tend to decline. However, an affordable option for IoT networks is available. The LPWA (Low-Power Wide-Area) also called mobile IoT, transmits data at slower rates than other cellular technologies, costing less, using less power, and having better wireless coverage inside buildings, becoming a good option. This possibility of the LPWA network can help the IoT market achieve 95% growth in the next four years.?
Therefore, the IoT market is growing fast, and other technologies that support the sensors (such as 5G) can boost it even more. The results this technology has achieved in industries are promising, and even more, if combined with other technologies from the 4IR (Fourth Industrial Revolution).?