Our lives are becoming increasingly integrated with smart technology. As we move away from computers being stand-alone devices and tech being embedded into everyday objects, the Internet of Things has developed rapidly.
What is the Internet of Things?
The Internet of Things (IoT) refers to physical objects containing sensors, software or other technologies to connect and exchange data with other devices and systems over the Internet. It is a way to make inert objects into smart hardware.
It is different from the Internet because it can create information about connected objects, analyse and share the data and make decisions based on the collected information.
Examples of the IoT in action can be seen in home automation, such as the operation of lights, heating and security cameras controlled by smartphones or voice-activated assistants like Alexa or Siri.
The IoT also has substantial industrial applications such as in; healthcare for remote monitoring of patients, transportation for traffic control, parking and vehicle management and even agriculture, where data can be collected for a range of environmental needs, including temperature, rainfall, humidity, wind speed, pest infestation, and soil content. It also has uses in the military, manufacturing and many other commercial sectors.
IoT technology is even being used in a humanitarian capacity, with a start-up business, Moeco, developing wireless trackers to monitor the safe transit of aid packages and other vital supplies to dangerous and hard-to-reach locations in war-torn Ukraine.
IoT benefits and challenges
The benefits of IoT are clear to see across all walks of life for both individuals and companies, offering cost and time savings through automation, enabling enhanced security possibilities and streamlining processes. Recent research shows that 83% of organisations report that they have significantly improved their efficiency by introducing IoT technology.
On the downside, there are concerns over cyber security, with reports from earlier this year of a new DNS bug which could be allowed on IoT devices. In a more general sense, too many businesses recognise privacy risks to exchanging and storing large amounts of data. They know that customers need to feel assured that their information is being managed safely and responsibly and that they have ownership of their personal information.
To combat security risks, there have been calls for global regulations for IoT, and in response, governments around the world are starting to introduce legislation around IoT security; however, in most cases, this is still in its infancy, and there is no joined up approach with different countries and regions implementing their own rules.
However, not all challenges are bad, and some create opportunities within the sector. It’s estimated that the number of active IoT devices will surpass 25.4 billion by 2030 and as the industry expands and developments are made, there is a constant need to update technology to enable devices to support more complex functions, find innovative ways to reduce power consumption and allow more significant numbers of ‘things’ to be connected.
The upside is that the tech job market looks very healthy. There are increasing opportunities on offer for tech professionals in roles such as; IoT developers, embedded system designers, infrastructure architects and IoT solutions engineers as businesses realise that they need more IoT specialists to support developments, often on a ‘statement of work’ project basis.
What the future holds for the IoT
It is predicted that IoT has the potential to generate $4-11 trillion in economic value, with up to 152,200 IoT devices connecting to the Internet every minute by 2025. With legislation gradually introduced around the globe to make it safer for users, the industry will continue to see substantial growth for a long time.
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