How The World Of IoT Is Changing Our Lives?

IoT is anticipated to change the world we live in. Though we have begun observing its great impact in this digital world, we are still at the starting end of this transformational journey. Very soon every device you possess will be connected to the internet. Whether it is a wearable technology, your phone or common household objects, Internet of Things will link us in unimaginable ways. Owing to the boom in IoT and the rapid pace of technology, life in the coming 10 years will look quite different from how it looks today. Let’s have a look at what all is in store in the IoT future:

Fundamental transition in technology

According to Gartner, around half of the major new business systems and process will incorporate some element of IoT by the year 2020. Even as consumer technologies and flashy applications create the most media buzz, there is much more to IoT than just everyday life situations. By promising to cut costs and boost efficiency in manufacturing and production, networked devices offer not improve the efficiency of their management but also make the work smarter.

Greet Industry 4.0

The traditional manufacturing industry is also in the middle of a main change, signifying the dawn of Industry 4.0, the smart manufacturing industry. IoT based technologies make the factories safer, smarter and more environmentally sustainable. Internet of Things link the factory to a great new array of smart manufacturing solutions which revolve around the production. The remarkable improvements to production and cost decline are anticipated to produce billions in revenue growth and productivity over the coming decade.

IoT offers manufacturers the ability to track objects to ascertain how consumers use a particular product and to find out the prominent features. This results in an improved understanding of the type of adjustments that should be made to the products in order to improve the purchasing and adoption rates.

Major challenge

Presently, the biggest problem facing IoT is the deficiency of consistent standards. Whereas some layers of the IoT technology stack possess no standards, others have innumerable contending standards with no winner. Without a common method of communication, devices will just be able to talk to their own brands and restrict the helpfulness of connected devices. It’s no surprise that IoT is a trending topic in the standards community. ISO/IEC joint technical committee JTC1 formed a working group on the Internet of Things to build an architectural model to foster interoperability of IoT systems. Many of the standards that are required probably exist but their comparative importance, application and deployment are not clear. To address this condition, ISO established a Strategic Advisory Group (SAG) on Industry 4.0. Its chairperson, Kai Rannenberg believes that network connectivity that allows these objects to collect data is of chief importance. He sees standards leveraging technologies of IoT to build more responsive and efficient systems. For Rannenberg and others, the result of the work of SAG is a set of standards which ensure that every device connected to the internet will be able to effortlessly connect with each other.

Looking beyond connectivity

Swift changes in IoT technology make it tough for even the experienced experts to foresee the future of standardization in the domain. Evanhoe comprehends the current trends of technology and projects where they are headed. He says, “The convergence is inevitable. IoT goes beyond connected devices, i.e. things with an IP address; all of the automatic identification technologies, including RFID and bar codes, enable IoT by helping to identify the ‘things’ in IoT so it’s all of this working together to enable IoT and its benefits.”
Ranging from your smartphone, electronic gadgets to wearable technology, IoT is bound to take this digital world with a storm. If wish to garner huge success in the technology arena, get ready to jump into the world of IoT and make the most of it.