IoT - Internet of Things - Ecosystm Insights

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A guide to IoT – What is IoT: Internet of Things?

This guide aims to introduce you to the Internet of Things (IoT), and gets straight to the basics and fundamentals, to benefits, use-cases and concepts explained.

IoT Basics and Fundamentals

Internet of Things (IoT) is the interconnection of digital objects and electronic devices in order to form an intelligent network amongst them so they interact with each other.

In the upcoming years, many small IoT systems will connect with each other forming a bigger network system thus resulting in providing advanced levels of services which will change the way in which people use their current devices.

Building blocks of IoT

Devices – This is the ‘Thing’ in the internet of things. Every device in an IoT Network is equipped with a sensor and acts as a sensing device that collects data and can often perform some basic level of processing. A few examples could be temperature sensors at home, RFID sensors on products or cameras on highways.

Local Nodes– The IoT devices which collect the data locally connects the other end to nodes, or to a cloud, for processing or prediction. It also provides intelligence to the devices by sending back the data received as an instruction to IoT devices to perform further actions.

Connectivity– It is a gateway and highway to connect the devices, nodes and cloud together. Connectivity could be wireless or wired and formed on a local network or through the Internet/cloud.

Cloud-based application & Storage– The data collected by the sensors or local nodes is sent to cloud-based applications or for storage. The cloud-based application’s job is to compute the collected data, analyse it and make inferences and predictions from it. The processed data is either sent back to the local nodes if further action is pending or stored on the cloud in the form of objects, images or a database.

How does IoT Work?

IoT works with a combination of various sensors embedded into a variety of machines. The sensors and devices produce the data which is then passed to local nodes for low-level processing. The information is then passed through a gateway to the network or the cloud to various applications for data processing and operations. The applications process the data to produce a result which is sent back to the devices or sent to other applications for further analysis or storage.

The IoT network can be further expanded by establishing a network with other IoT networks or combining it with cloud based application to be a part of a bigger hub. This enables real-time data exchange as and – when required – the network can be expanded to connect with other IoT networks.

What are the benefits of IoT?

IoT is being implemented in virtually all sectors, but those that are using it most include healthcare, utilities, manufacturing, agriculture, smart cities, public safety and retail. While it’s still in its nascent stage and with the large scale deployment of IoT devices the interconnected sensors and technology will offer numerous benefits –

Automation – By automating tasks, organisations may save time and money. IoT provides an automated approach with machines communicating with each other in a Machine2Machine (M2M) language. This reduces the complexities and the devices automatically process data either at the local nodes or on the cloud. The machines can automatically identify or even predict a fault and inform the maintenance team of the faults. Allowing you to reduce downtime and unexpected, or unnecessary maintenance costs.
Decision Support and Analytics – With the data collected, organisations quickly learn and adapt to wide decisions and choices. IoT is beneficial in asset tracking, monitoring, inventory management, energy optimisation, etc. For example, monitoring the devices that transmit wirelessly in real-time, including surveillance systems, cameras, infrared detection sensors, motion capture and temperature of objects can help us build better industrial environment.
Improved customer experiences – The interconnection of more services will generate huge data coming from various sources and services. With so much data and information, organisations will be in a better position to improve their customer experience by making decisions on the data collected from IoT Devices. A business will get opportunities to operate more on the real numbers and less on assumptions thus accurately understanding the requirements and appropriately serving the customers.
Safety and Security – Safety is increased with the digitalisation of assets and technology with IoT technology. The working environment is automated with optimum temperature and worker’s safety is achieved with machine automation and reduction of manual processes. Certain incidents or floor accidents can be easily avoided with IoT implementation such as proximity, movement or hazardous gas sensors. The ability to control machines and appliances from anywhere with remote monitoring is another practical benefit derived from the IoT technology.
Revenue Generation – Adoption of IoT may impact business revenue in the initial stage but the benefits surpass the cost. IoT offers improved efficiency and business realises the new business functions, thus leading to new revenue opportunities. IoT is also helping to get strategic advantages and stay ahead of competition.

Internet of Things Applications and Examples – IoT Explained

IoT in Healthcare

Current medical technology misses many critical points and real-world information to help patients. Embedding IoT devices in the healthcare domain are opening a plethora of opportunities for clinicians and patients. IoT will bridge gaps between HealthTech Innovation and Stakeholder Adoption with data collaboration among various devices connected through internet such as the data of real-time patient monitoring, pulse, heart rate, and blood pressure which is passed to the clinicians directly on their remote device.

Some of the common use cases of IoT in health-tech are –

Emergency Care
Research
Body sensors and devices
Patient monitoring

IoT in Education

Education is no longer restricted to textbooks and videos but goes beyond that. The Internet and IoT in the picture is helping students to articulate their doubts or solve challenges into real-world scenarios while imitating real-world use cases For instance smart boards, and interactive platforms, when linked with web-based tools, enables a smart learning system with which studenst can interact and engage visually.

Some of the common use cases of IoT in the field of education are –

Smart-boards
Interactive knowledge and experience
Attendance management system

IoT in Buildings and Homes

The fashion of embedding technology as a standard part of modern homes is bringing comfort, security and a better lifestyle in this modern age. IoT is taking the technology to a next level with wide and extensive use cases and boundless possibilities. IoT is enabling home users to create a network of smart devices such as home appliances, lighting, HVAC, security systems, audio-visual systems etc.

Some of the common use cases of IoT in home automation are –

Security
Smart Homes
Cameras
Automated domestic appliances
HVAC
Locks and Security

IoT in Sports and Personal Fitness

The athletes, fitness enthusiasts and casual sports players are taking advantage of various devices to track the levels of energy consumption, calories burnt, miles covered and much more from their smart bands/watches. We are already witnessing IoT in action from our personal or fitness devices which can monitor our health, heart rate, sleeping patterns and other body parameters both during rest or at play and sync them with applications. The linking of the devices and applications, develops the data which are further used by assistants or advisors to guide us in maintaining a healthy regime.

Some of the common use cases of IoT in fitness applications are –

Wearables
Connected Stadium, fans and equipment
Smart sports gear

IoT in Agriculture

Agriculture is a field which is embracing modern technology to enhance the production, processing and trying to decrease manual labour on the field operations. The implementation of IoT is helping farmers to reduce waste, save energy and improve productivity. From farm journey of vehicles to advanced watering systems, IoT is modernising farming with automation and better technology.

Some of the common use cases of IoT in agriculture are –

Smart Greenhouses
Drone monitoring
Crop management, watering and monitoring

Automotive IoT

A driverless vehicle is basically one large collection of IoT sensors, ranging from cameras, LIDAR, proximity sensors, speed sensors, etc. IoT sensors in cars work in real-time to measure the technical parameters, whereas the onboard systems take control of the steering wheel, brakes, where to stop, when to start etc., which all happens within the car itself and is connected to the internet to communicate with the traffic and real-world conditions. Once all the data is uploaded into the cloud, it can be further aggregated and analysed to learn from the inputs and create better outcomes Automated cars are still being tested and the technology is continuously updated. We are yet to achieve a level where a vehicle won’t require human intervention.

IoT in Weather Monitoring

The effective monitoring and forecasting of weather require higher details as well as flexibility in types of instruments, range, and deployment used, The current technology requires a lot of manual labour and instruments along with lab processing. With the introduction of IoT devices, the environmental systems are getting benefited with more data, finer details, and monitoring accuracy. IoT systems are eliminating manual tasks with sensors for monitoring and sampling the environmental indexes and thus alerting the experts for weather changes and unusual patterns.

Some of the common use cases of Weather Monitoring IoT are –

Weather tracking
frequency of use of specific rooms
Pollution control – Improved air quality

Industrial Internet of Things (IIoT)

Industrial internet of things (IIoT) is an extension of IoT. Industrial Internet of Things (IIoT) is the use of IoT largely in manufacturing applications and supply chain management. IIoT is driving the next wave of the industrial revolution or we can say it’s a gateway to the next industrial revolution i.e. ‘Industry 4.0’. The key idea driving Industry 4.0 is a connected world, comprising humans, machines, sensors and data, all working together in real-time to transform business and manufacturing processes.

IoT for Smart Energy and Utilities

As energy needs grow so are the related issues to manage infrastructure, and energy assets and match it with the consumer and industrial demand. Convenient access to a machine and its data can help in the determination of clear visibility, data, and stats. IoT holds true potential in the energy and utilities sector to make smarter decisions. Smart energy control will leverage a wide variety of systems for monitoring and control of energy and utility requirements for commercial and residential sectors. IoT will Effectively balance energy distribution and electric loads through accurate forecasting to minimise power outages. In addition to this IoT will also be able to dynamically control pricing based on the demand and supply factors. Some of the common use cases of Industrial IoT are –

Smart water, electricity and gas meters.
Smart Renewable energy
Smart Grids

IoT in Banking and Finance

With billions of smart devices connected to each other for accessing data banks will be able to show a detailed customer account summary in real-time. This allows customers to make sound and smart decisions related to their financial requirements. In the IoT world, banks are analysing their customer and advising them on the services and rewards. The benefits IoT can provide are easy to access on-demand services transactions, a number of swipes, verifying account details with location to detect frauds, data security, and privacy.

Some of the common use cases of IoT in BFSI are –

Tailored Marketing
Product and services planning and management
Smart Collaterals
Automated payment through things/Wallet of things
Real-time insurance

IoT in Communication and Media

The Communication and Media industry has started placing digital building blocks to utilise IoT. Publishers and broadcasters are moving to support high-speed transmissions and newer formats and IoT can further help to prevent networks outages during data surges or boost bandwidth to decrease the streaming or decrease download times. Smart IoT technology will enable telecom companies to implement 5G to take advantage of billions of connected devices to improve services, reduce wait times and less service disruption. The IoT activity utilises apps and digital devices to monitor customer data through product flow, sensors, tracking devices, GPS locations, wearables and more. IoT in media and entertainment is directly benefitting studios, recreational facilities, gaming companies, casinos, and telecom providers.

Some of the common use cases of IoT in Media and Entertainment are –

Personalised and contextual content delivery
Location-based services
Smart Televisions
AR and VR and MR

IoT in logistics

Prime priority for logistics companies is to ensure on-time delivery, quality services, and supply chain management, and this accomplishment feels right with IoT.

IoT is bringing multiple benefits to the logistics sector with wide solutions such as vehicle tracking, inventory management, process automation, connected logistics systems and more. The IoT is helping the sector meet its needs and expectations.

Some of the common use cases of IoT in logistics are –

Location Management
Inventory Tracking
Warehouse management
Supply chain management
Drone deliveries

IoT in Retail and services

Retailers have always tried to minimise the hassles and offer a frictionless experience to consumers. With IoT in retail and services, the retailers get better data and high-performance analytics from the sensors thus helping them to better serve customers. The IoT allows connecting objects or devices and store environments to communicate, analyse and share data around them with the help of RFID Chips, Wifi tracking, footfall or even customers’ cellphone to make the store applications and experience a smart experience.