The IoT or Internet of Things is defined as network interconnectivity in which everyday objects such as machines and hardware are able to communicate with one another without the need for human-to-computer interaction. This is also sometimes referred to as machine-to-machine (M2M) communication.
Chances are that you’ve read about or have at least heard about IoT in the last year. Until now most of the news has been focused on smart homes and wearables. However the real future of IoT is forecasted to have a larger impact on the manufacturing, oil and gas and utility sectors, also referred to as the Industrial Internet of Things or IIoT.
It’s becoming more and more apparent that IoT is destined to be the next big thing. According to industry experts, the Internet of Things is at the peak of the hype cycle, and it’s no surprise that organizations across the globe are now beginning to take notice. With the increased efficiency and cost-saving potential that IoT holds, organizations are beginning to explore how they can incorporate IoT into their business models. IoT offers exponential opportunities for improved functionality and capabilities, greater reliability and increased product utilization – all of which transcend traditional product boundaries.