CONTENTS. Introduction 3. IoT- the next evolution of the internet..3. IoT today and its importance..4. Emerging opportunities of IoT 5

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1 #924, 5 A The catchy phrase Internet of Things (IoT) or the Web of Things has become inevitable to the modern world. Today wireless technology has reached its zenith making it possible to interact with the internet anywhere, any time. This has opened up a platform of more and more devices connecting to smart networks and interacting with humans and with each other through internet. What Internet of Things mean for your business? Though IoT is already upon you, it s basically the organization s ability to capitalize it. 1

2 CONTENTS Introduction 3 IoT- the next evolution of the internet..3 IoT today and its importance..4 Emerging opportunities of IoT 5 IoT Challenges..6 How IoT impact your business.7 Conclusion.9 2

3 Introduction The Internet of Things is emerging as an unprecedented opportunity for many players in the communications, information technology (IT), and consumer electronics industries. IoT basically aimed to fuse the physical and digital worlds by bringing different concepts and technical components together. It aims to create a seamless network of billions of wireless identifiable objects that communicate with one another. Though the phrase Internet of Things were coined more than ten years ago, it has emerged into mainstream public only recently. IoT represents a general concept for the ability of network devices to sense and collect data from the world around us, and then share that data across the Internet where it can be processed and utilized for various interesting purposes. IoT becomes immensely important because it is the first real evolution of the Internet a leap that will lead to revolutionary applications that have the potential to dramatically improve the way people live, learn, work, and entertain themselves. Already, IoT has made the Internet sensory (temperature, pressure, vibration, light, moisture, stress), allowing us to become more proactive and less reactive. IoT-the next evolution of internet IoT represents the next evolution of the Internet, taking a huge leap in its ability to gather, analyze, and distribute data that we can turn into information, knowledge, and, ultimately, wisdom. In this context, IoT becomes immensely important. BY 2020, THERE WILL BE 10 CONNECTED OBJECTS FOR EVERY MAN, WOMAN AND CHILD IN THE PLANET Internet of Things was born somewhere between 2008 and The story of the Internet of Things begin from the evolution of web versus internet. It travelled through various phases from internet of content (HTTP), Internet of services (XML, webs service), Internet of People (social network apps) to the today s Internet of Things (M2M). In the 1990s, Internet connectivity began to proliferate in enterprise and consumer markets, but was still limited in its use because of the low performance of the network interconnect. In the 2000s Internet connectivity became the norm for many applications and today is expected as part of many enterprise, industrial and consumer products to provide access to information. 3

4 Consumers already have connected things like thermostats, energy meters, lighting control systems, music streaming and control systems, remote video streaming boxes, pool systems, and irrigation systems with more to come. Currently, IoT is made up of a loose collection of disparate, purposebuilt networks. Today s cars, for example, have multiple networks to control engine function, safety features, communications systems, and so on. Commercial and residential buildings also have various control systems for heating, venting, and air conditioning (HVAC); telephone service; security; and lighting. As IoT evolves, these networks, and many others, will be connected with added security, analytics, and management capabilities. This will allow IoT to become even more powerful in what it can help people achieve. Looking in to the future, it has been predicted that there will be 25 billion devices connected to the Internet by 2015 and 50 billion by The Internet of Things (IoT) is transforming the everyday physical objects that surround us into an ecosystem of information that will enrich our lives. From refrigerators to parking spaces to houses, the IoT is bringing more and more things into the digital fold every day, which will likely make the IoT a multi-trillion dollar industry in the near future. In the near future the Internet and wireless technologies will connect different sources of information such as sensors, mobile phones and cars in an ever tighter manner. Importance of IoT today Today Internet of Things can be better called as Internet of Everything. IoT promotes a heightened level of awareness about our world, and a platform from which to monitor the reactions to the changing conditions that said awareness exposes us to. And, like the advent of the Internet itself, the IoT enables a myriad of applications ranging from the micro to the macro, and 4

5 from the trivial to the critical. The kinds of innovation that we have seen with mobile devices and their ability to leverage sensing and communication capabilities are small preview of what s coming with the Internet of Things and will have a broad impact across industries. IoT has immense potential to significantly change industries such as healthcare, energy, manufacturing, agriculture and transportation. When we crossed the threshold of connecting more objects than people to the Internet, a huge window of opportunity opened for the creation of applications in the areas of automation, sensing, and machine-to-machine communication. In fact, the possibilities are almost endless. Smart natural disaster management, smart urban management, smarter healthcare etc highlight some of the ways IoT is changing people s lives for the better. IoT-emerging opportunities Machines will soon outnumber humans in the digital economy. This tremendous expansion in connected devices is definitely going to shape many opportunities for technology companies, enterprises, developers, investors, and start-up entrepreneurs. In today s era of World Wide Web, internet of things or the web of things has become inevitable to the modern world. Internet of things is largely influencing both individuals and organizations and also creating unprecedented opportunities for both. Reliable data capture: The main advantage of the IoT-M2M paradigm is the ability to collect valuable data from many new sources-not just from within an enterprise but from beyond traditional IT boundaries. Scalability for massive data: The volume and velocity of data generated within the Internet of Things will be orders of magnitude larger than what traditional systems can practically handle. Extended visibility: visibility driven approach will help to come up with wise decisions and take appropriate actions. The more we can see, the more we can correlate information and apply intelligence to understand context. This will have broad implications for not only IT security, but also across the entire enterprise. IoT emerging opportunities Reliable data capture Scalability for massive data Extended Visibility Improved asset utilization Generation of new revenue streams Improved asset utilization: With improved tracking of assets (machinery, equipment, tools, etc.) using sensors and connectivity, business can benefit from real-time insights and visibility into their asset and supply chain 5

6 Opening new revenue streams: Organizations can benefit from new revenue streams generated by new business models and services. IoT introduces innumerable opportunities for innovative services that can be offered using smart devices, machines and products. The Internet of Things will have a dramatic impact on the way companies function. But to fully exploit the IoT opportunities, enterprises need to start considering how they will address new technical challenges as they fold increasingly intelligent devices into their existing IT landscapes. Internet of Things-challenges With the future connection of billions of devices, definitely there will be real risks. The first challenge arise in the IoT adoption itself. Traditional inertia, budget priorities, risk aversion and other factors will prevent some companies from adopting IoT in the near future. Let s check out the major challenge areas Problems with data: IoT deployments will generate large quantities of data that need to be processed and analyzed in real time. Processing large quantities of IoT data in real time will increase as a proportion of workloads of data centers, leaving providers facing new security, capacity and analytics challenges Security challenges: As companies depend more on machinegenerated data for real-time business processes, ensuring that this data can be trusted will be essential. Companies must be able to detect rogue devices trying to interact with the IoT infrastructure both from device and network vectors. As the IoT connects more devices together, it provides more decentralized entry points for malware. Less expensive devices that are in physically compromised locales are more subject to tampering. Greatest Challenges for the success in IoT Development of partner ecosystem Competitive products/solutions Adapting business model Access to relevant expertise Selecting embedded solution Choosing components Network Risks: Inconsistent network availability is another major concern. The connected world introduces a number of new devices for real-time business purpose. But we can t expect all the devices in the IoT fabric will be online 100% of the time. Connectivity problem affect adversely for those applications that require real-time data. Privacy concerns: With remote sensors and monitoring a core use case for the IoT, there will be heightened sensitivity to controlling access and ownership of data 6

7 Integration Issues: With multiple platforms and large number of APIs, IoT systems integration and testing will be a challenge. These confusions may result in a slow IoT adoption. Slower adoption and unanticipated development resource requirements will likely slip schedules and slow time to revenues, which will require additional funding for IoT projects. Data storage investments: With all the billions of devices coming online, more and more data needs to be stored. To facilitate all of this data storage, new and big data storage need to be built in coming years Though with security, interoperability and privacy remain as challenges to its full deployment, IoT win-wide as the upside benefit is too great to ignore. However, organizations that address these emerging challenges with a holistic approach can be better prepared to capture value from new opportunities and insights How IoT impact your business What does this upcoming IoT mean for the business world? The Internet of Things (IoT) is the network of physical objects accessed through the Internet essentially a Connected Everything Platform. These objects contain embedded technology to interact with internal states or the external environment. A surge in the number of things connected to the internet is sure to affect the business in several ways. 7

8 Network ubiquitous: Everything from phone, printers, manufacturing machinery to security systems should be designed to connect to the Internet. This will allow the business to keep up-todate with the products, equipment s and services they deal with. Network connectivity enables real-time checking of product characteristic and this can in turn boost customer satisfaction. Personalization: In an everything- connected world business will definitely benefit from being able to control components of physical environment remotely. Being more connected and more perceptible allows greater personalization of the services and objects around us, as well as greater access to information when it comes to making decisions. With IoT, organizations can better understand individual needs and requests resulting to ever more personalized services delivered in real-time. Remote mobile device management (MDM): Completely remote mobile device management technologies will extend to the remote management of IoT devices. This will introduce tremendous changes for IT departments and IoT connected employees. This will help the organizations reduce equipment cost and increased employee satisfaction and efficiency. Perfect Cloud plan: Companies need to take advantage of the cloud to help them develop a great customer experience and compete with larger enterprises. This can range from using cloud solutions to deal with incoming customer data to facilitating customer service interactions in the cloud Remote connectivity: Business will largely benefit from being able to control components of the physical environment remotely Sensors and automatic control systems integrated into the objects enable business owners to gain insight on the condition and location of assets from anywhere. Network Security: Network security will become one of the most important aspects of business in the future, which makes sense because security is kind of the flip side of total connectivity. Investing in high-quality data security solutions that are scalable and robust will help your business. Development of new and more collaborative business models: The emergence of permanently connected objects helps in creating open, collaborative model in the physical world. This collaborative innovation has the potential to go beyond new products and services to discover, design and develop ubiquitous systems in which innovation comes above everything, lowering cost of development, speed up development or commercialization. What the Internet of Things Can Do for Us Some future consumer applications envisioned for IoT sound like science fiction, but some of the more practical and realistic sounding possibilities for the technology include: 8

9 Receiving warnings on your phone or wearable device when IoT networks detect some physical danger is detected nearby Self-parking automobiles Automatic ordering of groceries and other home supplies Automatic tracking of exercise habits and other day-to-day personal activity including goal tracking and regular progress reports Potential benefits of IoT in the business world include: Location tracking for individual pieces of manufacturing inventory Fuel savings from intelligent environmental modeling of gas-powered engines New and improved safety controls for people working in hazardous environments Conclusion The IoT is not yet a tangible reality, but given the resources and attention being devoted to it through various initiatives around the world, it seems probable that the concept will become a reality, in one form or another, in the very near future. In conclusion, IoT represents the next evolution of the Internet. Given that humans advance and evolve by turning data into information, knowledge, and wisdom, IoT has the potential to change the world as we know it today for the better. At Stylus we have an Internet of Things mentality. We apply IoT solution to drive business value and ultimately allowing ourselves to become an Enterprise of Things. We leverage IoT capabilities to increase efficiency, innovative product development, increase asset utilization, enhance customer experience etc. CONTACT US: #924, 5A CROSS, 1 ST BLK, HRBR LAYOUT, BANGALORE

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