The ABC’s of IoT Part 3: Internet of Things Fundamentals
The ABC’s of IoT: Fundamentals of Today’s Internet of Things
The Internet of Things (IoT) is continually evolving and growing. With so many changes in market dynamics, technologies, and applications, it may be hard to keep up with trends and opportunities in the IoT space. In this final installment of our three-part series, we break it all down to the fundamental building blocks that characterize the current state of IoT and that will drive the future of the smart device ecosystem.
S is for Smart Cities
Smart Cities that collect and analyze data from sensors, monitoring devices, and meters will benefit from improvements to critical infrastructure and services such as transit, utilities, and waste management.
T is for Trillions
Though projections vary widely, most industry analysts predict that the global market value of IoT is in the tens or hundreds of trillions of dollars as measured by improved operational efficiencies, extended asset and equipment lifecycles, monetization of data, and the infrastructure sales that are the foundation of IoT ecosystems.
U is for Uptime
Connecting remote assets to deliver predictive analytics will maximize uptime in manufacturing and industrial environments where equipment failure may result in significant losses of revenue and productivity.
V is for Virtual Reality
Sensors and other IoT devices can expand and enhance the virtual reality experience by enabling improved remote collaboration, more immersive training, and advances in product development.
W is for Warehouse Management
The dramatic and sustained increase in online shopping because of the pandemic, combined with the global supply chain shortage has driven a need for more efficient and intelligent warehouse management to meet consumer demand.
X is for XMPP
XMPP which is short for Extensible Messaging Presence Protocol, is widely regarded as a good method for exchanging data between IoT connected devices due to its customizable nature and ability to use short messages to communicate in real-time.
Y is for Yields
The ability to optimize processes to maximize manufacturing yields is significantly improved with connected workflows that provide real-time data on equipment health, worker productivity, and other inputs from the manufacturing floor and related supply chain.
Z is for Zero Net Energy
Monitoring and controlling equipment, fixtures, and systems based on predictive and diagnostic data received from connected endpoints can help realize the zero net energy goal of many smart facilities developers.