The Internet of Things (IoT) is an essential driver for consumer-facing innovation, data-driven business opportunities, industry transformation, new applications and even entirely new business models and revenue streams across all sectors in the digital transformation economy.
The Internet of Things is the interconnection of physical devices with embedded sensing and communication possibilities, including sensors and actuators, and of physical endpoints that consist of, among others tags, sensors, actuators, controllers and communication devices get attached to objects (from livestock to crops and industrial assets), and are connected with the Internet through uniquely identifiable IP addresses; whereby data is gathered and communicated via the embedded electronics and software, additional connectivity technologies and the cloud, networks or IoT platforms. The Internet of Things is an additional layer of information, interaction, transaction and action which is added to the Internet thanks to devices, equiped with data sensing, analysis and communication capabilities, using Internet protocols.
The Internet of Things further bridges digital and physical realities and powers information-driven automation and improvements on the level of business, society and people’s lives.
Internet of Things: Complete IoT guide – benefits, risks, cases, trends