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Internet of things (IoT):


Internet of things (IoT):
There is no single universal definition for IoT(Internet of Things). It generally refers to scenarios where network connectivity and computing capability extends to objects, sensors and everyday items not normally considered computers, allowing these devices to generate exchange and consume data with minimal human intervention. Internet of Things paradigm enables the objects, also called things, for sensing, which subsequently interoperate and communicates with other objects for data exchange through an existing physical network infrastructure. It promotes a seamless amalgamation between the smart devices, and the physical world to ensure full automation that eventually improves human life. Architecture is generally divided into three layers, Perception layer, Network layer, and Service/Application layer. 


 
The concept of combining computers, sensors, and networks to monitor and control devices has existed for decades. The recent confluence of several technology market trends, however, is bringing the Internet of Things closer to widespread reality. These include Ubiquitous Connectivity, Widespread Adoption of IP-based Networking, Computing Economics, Miniaturization, Advances in Data Analytics, and the Rise of Cloud Computing.

IoT implementations use different technical communications models, each with its own characteristics. Four common communications models described by the Internet Architecture Board include: Device-to-Device, Device-to-Cloud, Device-to-Gateway, and Back-End Data-Sharing. These models highlight the flexibility in the ways that IoT devices can connect and provide value to the user
The bottom line is a big motivation for starting, investing in, and operating any business. End-to-end solution providers operating in vertical industries and delivering services using cloud analytics will be the most successful at monetizing a large portion of the value in IoT

IoT can be divided into three primary categories based on usage.

  1. ·         Consumer IoT    : Connected devices such as Smart watches, cars, phones, laptops, homes and appliances and entertainment systems
  2. ·         Commercial IoT : Like Inventory controls, device trackers, and connected medical devices
  3. ·         Industrial IoT      : Things such as electric meters, waste water system, flow gauges, manufacturing robots, and other industrial type devices.


Factors driving adoption of intelligent actions in IoT
  1. ·         Lower machine prices
  2. ·         Improved machine functionality
  3. ·         Real time monitoring
  4. ·         Faster and more efficient logistics and supply chain
  5. ·         Customer experience optimization
  6. IoT retail benefits reported by early adopters

In its 2016 Internet of Things report, Verizon showed various use cases in retail IoT. Retailers are also positive about many aspects of Internet of Things deployments, Verizon found. Source: (http://www.verizonenterprise.com/verizon-insights-lab/state-of-the-market-internet-of-things/2016/)
  1. ·         77 percent of retailers see that IoT changes customer experience 

Security; privacy; interoperability and standards; legal, regulatory, and rights; and emerging economies and development are the five key IoT issue areas examined to explore some of the most pressing challenges and questions related to the technology.

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