IoT stands for “Internet Of Things”. IoT is a system of hardware and software components used in industries (as opposed to usage by consumers) that provides a real time view into web enabled assets.
IIOT is the application of IoT technology in the industrial world. Many new assets such as machines, cars, equipment, components, etc. come with sensors built-in and are also enabled to communicate with other devices. In many instances, legacy assets can be enabled to do the same thing by retrofitting add-on components. Data collected from these assets is then processed, stored and analyzed for quick decisions. IoT allows the real time collection of data & real time analyses of the data enabling real time decision making. Real time analysis & action can give a company a significant edge in a competitive market in addition to reducing costs and increasing productivity. In many instances, real time decision making can also be automated through machine to machine learning.
WHAT ARE THE COMPONENTS OF AN IOT SOLUTION?
Any IoT solution has essentially 3 important components:
A sensor is a data collection agent. They do a specific job, e.g. collect temperature of moisture or vibration, etc. Sensors typically communicate only one-way, they collect data & send it to another device – the gateway. Sensors can be configured/programmed for data collection configurations such as interval time.
A gateway or a controller is a data aggregation device that collects data from multiple sensors. It can receive data over wired connections such as Ethernet, SCADA and PLC and on wireless connections such as Bluetooth, Wifi, ZigBee, Z-Wave and others. Gateways can collect data from the sensors and can also send signals to actuators to take action.
IMPORTANCE OF IOT
IoT will soon be ubiquitous. Every industry and sector will have sensors collecting data. Whether it is consumer, industrial or healthcare, sensors are making headway. The consumer industry is pushing the boundaries ahead of the industrial one. The most well known areas in the consumer industry are wearables like smart watches & exercise bracelets that capture many different body metrics & log them to your smart phone. Also, “things” like smart bulbs, smart thermostats and other devices are pushing the boundaries in home automation. On the industrial side, smart factories & smart cities are leading the way. Automotives such as Tesla are leading the way with driverless cars which depend on all kinds of sensors to provide that experience.