What is IoT – If you belong to technical domain or have interest in technology stuff then you must be prepared for this new buzz word IoT in this age of high tech gadgets.
The internet of things (IoT) is a computing concept that describes the idea of everyday physical objects being connected to the internet and being able to identify themselves to other devices. The term is closely identified with as the method of communication, although it also may include other sensor technologies, wireless technologies or QR codes.
Many companies have already worked out their perfect spots on the market and launched successful products powered by this technology. IoT tech providers offer other companies specific software for IoT enablement, which is generally called an IoT platform. Usually it is accessed through subscription to the provider’s cloud in which case the platform is referred to as the platform as a service- PaaS.
On the other hand, for all the companies in the middle circle an over-dependence on IoT tech providers poses a serious threat. As their IoT-powered services scale up and become key part of their business proposition, not only do they pay more in licensing fees to IoT providers but also lock in themselves with a specific provider and its platform capabilities.
These powerful IoT platforms can pinpoint exactly what information is useful and what can safely be ignored. This information can be used to detect patterns, make recommendations, and detect possible problems before they occur. The information picked up by connected devices enables people to make smart decisions about which components to stock up on, based on real-time information, which helps save time and money.
The full benefits of the internet of things are only realised when large enough numbers of devices are able to interact with each other – and there lies a big problem. The number of different players in the market covers a wide range, both horizontally, in terms of functionality, and vertically, among different industries.
Both of these systems are reasonably secure – but this makes them the exception, rather than the rule, as it’s difficult to overstate the threat posed by IoT technologies on the network.The first major issue is that a compromised IoT device can, in some cases, offer a way onto a company’s network for a malicious actor. The second is that even compromised devices that aren’t used to attack a company’s network directly can be conscripted into enormous botnets of other hacked gadgets.
IoT is everywhere, but there are certainly a few verticals where it’s more prevalent. Heavy industry is arguably the sector that’s been working with IoT concepts for the longest. Sharing data for maintenance and operational purposes makes industrial equipment a lot more responsive and useful, and creates a much safer working environment, as well.
Most people think about being connected in terms of computers, tablets and smartphones. IoT describes a world where just about anything can be connected and communicate in an intelligent fashion. In other words, with the internet of things, the physical world is becoming one big information system.