Projections are that by 2020 up to 50 billion devices will be connected to the Internet, all of which will have varying levels of intelligence enabling them to report, react, interact and make decisions. The requirements of this massive and still emerging market mean exciting opportunities for innovation within the embedded design community. Whether you’re talking about the intelligent ”things” or the network that enables them all to connect, share, store and interpret data, semiconductor players will be at the forefront of innovation, propelling the growth of Internet of Things worldwide and in India.
The rapid, universal integration into communication systems is creating a new paradigm of pervasive computing. Their early adoption is already underway across many industries such as consumer, utilities, automotive. If a nation could leapfrog in that space the potential is limitless. Internet of Things or IoT as we call it have a range of models that has the potential to transform the way we live, work and play – Today #IoT has brought to life #bigdate #wearables #smartconnected #analytics, the future potential of #IoT lies in the area of #smarthome #smartcities #smarthealth #smartenergy as the #talkingdevise becomes the #consumerdelight and takes center stage this technology innovation that our generation is witnessing with only #makethisworldabetterplace.
What is interesting to see is how a concept like Internet of Things is making products speak, interact and take decisions creating new levels of excitement amongst tech enthusiasts and consumers. Today watches can be used to read messages, cut calls and read emails, a smart health device can store patient’s data and communicate to the doctor once there is any abnormality in the body. From watches that track your calories to glasses that bring virtual reality alive, accessories have now become smart and connected.
With the popularization of Internet of Things, the product industry has undergone a huge transformation. Mere utility products have become fashion statements and elements one would not have imagined existed perhaps a year ago. The Internet of Things (IoT) will result in profound changes in the way enterprises operate and the products they produce and consume. Although machine-to-machine applications have existed for quite a while, these applications were closed, highly specialized and expensive. IoT opens up inexpensive connectivity to various devices and couples this with the power of the cloud and big data analytics to enable enterprises to reduce costs, optimize resources, create new products, and explore new business models.
Indian government’s recent allocation of Rs 7,060 crore for developing 100 smart cities will propel the growth of IoT towards making it a reality. Such initiatives will not only boost the entrepreneurial environment in the country, be it in software, hardware or services but also lead to rapid deployment of IoT related technology in the country. India is set for an “electronics revolution” bringing in a new era of possibilities.
The economic impact of IoT has been variously estimated as between $14.4 and $19 trillion. Today, the advances in wireless networking technology and the greater standardization of communications protocols make it possible to collect data from these sensors almost anywhere at any time. Ever-smaller silicon chips for this purpose are gaining new capabilities, while costs, following the pattern of Moore’s Law, are falling. Massive increases in storage and computing power, some of it available via cloud computing, make number crunching possible at very large scale and at declining cost.
IoT is the trend to watch out for!
By Baskar Dhandapani, Country Sales Manager, Freescale Semiconductor India Pvt. Ltd.
