Imagine a scenario when your alarm rings at 6:30 am. You wake up and turn it off. As soon as you switch off your alarm, it informs to the geyser to heat water at a temperature you want and also the coffee maker starts brewing coffee! Feels amazing, right?

This is possible only with the perfect use of IoT (Internet of Things).

The IoT has been transforming the world as did the industrial revolution once. It has been contributing in ways how people, government, and business interact with the world. The great revolution has already started. Variety of things ranging from our fitness bands to wireless cameras have started using IoT.

The IoT Ecosystem

IoT is composed of different types of components which work to make a complete ecosystem. It majorly consists of devices, network, platforms, and application. Devices are usually made up of one or more than one sensors. Their role is to collect different types of information/data from the surrounding. It can be as simple as a thermometer which collects only information of heat, or can be as complex as Object Proximity which collects information about presence or absence of an object, its bearing, color, distance among objects. The devices then transfer the data to a connectivity network. The platform acts as a middle man, acting as a point of connection among all devices, network and application. The role of application is to deliver the data to the user.

For example, we use a wireless camera and can see the live footage in our smartphone. In that the device is camera, the network is Wi-Fi the router act as platform and application is your IOS or Android app is the application which delivers you the data.

IoT in Business

At a time when whole world is adopting IoTs in real life, business cannot be left alone. Businesses are using in almost every sector to get optimum results from it. There are many ways on how IoT is helping to boom businesses.

Creating smart workplaces

From smart air conditioning to lighting systems, today’s businesses are surrounded by IoTs sensors and devices. Smart tracking of their important assets as well as remote monitoring of utilities such as energy usage are helping business houses to grow their business by creating a better workplace. Business houses are happy with IoT systems for its help to increase productivity.

Industries using IoT to reduce risk

It is no wonder that industries have been using technology from decades for both qualitative and quantitative increment in production. Industries today are using different types of IoT devices to reduce their risk and increase productivity. They are using devices such as chemical sensors to reduce operational risks. It is helping the managers to maintain and monitor the infrastructure in industries.

Uses of IOT innovation in healthcare system

Healthcare systems are using IoTs in two basic ways. One is used by the management to track both location and condition of their assets; another is being used by doctors to track and monitor the condition of patients and imaging of organs. IoT is being proven as a boon in the sector to maintain the medical devices.

Use of IoTs in creating smart cities

Despite less interest of decision makers in technology, IT departments of governments are struggling to integrate IoTs in their systems. IoT can be the best key to the development of the nation. Governments of different countries are already building up their security systems, street lights, vehicles, and much more to hike towards building smart cities.

Although Nepal is lagging behind in the use of such sophisticated technology, it will be forced to adopt IoT soon. There is use of IoT in public sector already; GPS tracking system at Sajha Buses can be the best example.

Market drivers and barriers of IoT

There are varieties of factors which are making use of IoT easy in daily life. High-speed internet connectivity, high smartphone penetration, cheap sensors (production of IoT devices at low cost), and huge Investment in IoT sectors are sure to boost the IoT wave in the near future.

Meanwhile, we cannot underestimate various barriers to IoT wave, be it security concerns, privacy issues, problems in implementation, technological fragmentation and others.

By Ajay Pandey