Why is IoT important?

 

 IoT has enabled the physical world to meet the digital world in collaboration. It provides benefits to organizations by allowing them to work and simplify their work. As IoT grows exponentially year on year, businesses are taking advantage of the incredible business benefits it can deliver. Here are some of the most important benefits of IoT:

• Create new business models and revenue streams

• Improve business decisions and insights based on IoT data.

• To increase productivity and efficiency of business operations

• To improve customer experience

Although global IoT spending has been affected by the economic impact of the COVID-19 pandemic, IDC's analysis shows that it will reach a CAGR of 11.3% over the forecast period 2020-2024.

 

What are IoT devices?

IoT devices are hardware devices, such as sensors, appliances, devices and other machines that collect and exchange data over the Internet. They are designed for certain applications that can be connected to other IoT devices. For example, an IoT device in your car can detect oncoming traffic and send an instant message to the person you're about to see about an upcoming delay.

 

How do IoT devices work?

Different IoT devices have different functions, but they all have similarities in terms of how they work. First, IoT devices are physical objects that see what is happening in the physical world. They have integrated processors, network cards, and hardware, and are often connected to Dynamic Host Configuration Protocol servers. It also requires an IP address to work on the network.

Many IoT devices are programmed and controlled through software. For example, an app on your smartphone to control the lights in your home. Some tools are also built into the web server, eliminating the need for external applications. For example, the light turns on immediately when you enter the room.