The IoT (Internet of Things) paradigm, first envisaged in 1999, is based on the possibility of connecting different objects and devices to each other. Many sectors are now involved in this model. These include healthcare and public utilities, as well as manufacturing and public administration, not to mention assisted living and the automotive sector.
To make these connections possible, the creation of an electric circuit is required. This provides a method of connecting any type of apparatus to the Internet in order to enable information transfer.
Forecasts for the next few years
Growth forecasts for IoT technology are very positive. The most reliable estimates predict a market value of 200 billion dollars by 2023. This level of growth is remarkable if we consider that in 2016, the total Internet of Things market value equated to approximately 16 billion dollars.
The numbers in question are above all, a consequence of the versatility of this approach. Any object or device equipped with a switch can in fact be connected to the network and rendered intelligent. Thus it is possible to achieve two main functions: control and monitoring.
In such cases the applications really are numerous and beneficial. Anyone who runs a business involving contact with the public, can for example, thanks to the IoT model, find out which sales outlets have the highest client footfall.
It is also possible to analyse sales data, so as to identify which products are the most successful. Thanks to the IoT model, these data can be combined with supply data, to help ensure that the most popular items are always in stock.
The development potential of the IoT paradigm are practically unlimited. The scenarios involving its application are numerous and include many aspects of our daily routine. The Internet of Things could be a major resource for managing our personal lives, thanks for example to smart alarms which are able to warn of a train cancellation or provide updates about traffic conditions between your home and place of work.
It is also important to consider the relationship between the Internet of Things and the automotive sector. The connected car has been an important focus of several firms for some time and this is illustrated by partnerships like the one between Bosch and Nvidia, companies which have long been working on the development of an Artificial Intelligence system designed specifically for the transport of the future.
According to details released so far, this should be a modular, universal type system, which can be used by any vehicle manufacturer to provide services linked to connected mobility and especially, to develop self-driving vehicles.
Another point regarding the development potential of IoT in the automotive sector is the increasing interest being shown in the Automotive Cloud Suite, which will allow brands in that sector to implement a software platform characterised by the inclusion of development tools.
To get a clearer idea of the situation, we might consider a future scenario in which the navigator of the vehicle could advise the driver which route to take according to information received about an accident detected by sensors installed on street lamps.
Objectively, IoT is going through constant evolution. Its growth prospects are excellent and soon they could lead to a revolutionary turning point, in other words the connection of a network of personal computers to a Network of Things, which would involve not only businesses but also public safety organisations, enabling the relevant authorities to deal with problems linked to cyber terrorism.
Translated by Joanne Beckwith