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The future of development in the IoT world

Blog written by – Ashok Wani- Head – Technology & Innovation

With the exponential growth in Internet consumption, the Internet of Things (IoT) is taking over the world. A large number of businesses and consumers have turned to the Internet of Things, citing the potential benefits in the coming years, both in terms of consumer convenience and business benefits.

The emergence of the IoT ecosystem

The term IoT was first used in 1999 by a British businessman for a network of websites related to the Internet for unlimited data storage and sharing. According to technology experts, 50 billion devices will be connected worldwide in 2020. The massive explosion of the connected equipment driven by the growth of the IoT-driven ecosystem ranges from advances in wireless technology to embedded sensors and micro electrochemical systems.

The top industry that benefits from IoT

While the Internet of Things has the energy to revolutionize old business processes, industrial solutions benefit mainly in the fields of production, energy, construction, logistics, oil and gas, agriculture and transportation.

IoT is here to stay

It is an undeniable fact that the Internet of Things is our future. This technology is mature enough to dramatically improve the daily activities of end-users by providing additional revenue streams for companies throughout the world. According to Gartner, the top research company, IoT sales, will exceed $ 300 billion by 2020. Therefore, companies must invest in technology and provide technology-based services. IoT technology providers can make money from the increasing need for business processes that are connected with a strategic combination of cutting-edge technology, IoT strategies, and business partnerships.

Transforming the construction industry with IoT

IoT is modernizing the construction industry, giving industry participants greater transparency and control over their assets, which results in shorter lead times and significant cost efficiency. Asset tracking, telematics and heavy equipment management better redefine the basic standards of the sector.

All machines and devices installed on mobile devices can help now in collecting real-time situation updates so that that site managers can respond quickly.  IoT enables providing a safer work environment for construction sites. Real-time warnings and GPS-based tracking play a vital role in proactively increasing the security of high-value assets.

uilding Information Modelling

Sensors built into existing projects can provide managers with meaningful information about the effects of climate change and time. Such insights on the structural response to natural disasters enable engineers to develop projects that are robust, fool-proof, sustainable and energy-efficient.

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