Internet 's Impact On The Global Market And Why Companies Should Invest Essay

This paper gives a clear understanding on the current state of art on the IoT. The primary idea of the IoT concept is the pervasive existence around us of a wide range of things such as Radio-Frequency Identification (RFID) tags, actuators, sensors, mobile phones, etc. These are able to communicate with each other and collaborate with their neighbors to reach collective goals through distinctive addressing scheme.

The article begins by defining the three main components that form the Internet of Things – sensors, computer processors, and actuators – and how those pieces form a much bigger and more complete whole. Schneier compares these technological elements to body parts – eyes, ears, hands, feet, and the brain – to support his statement that these seemingly small pieces are capable of coming together and forming something as important as the Internet of Things.

Many of us take advantage of the internet in our daily lives now, in fact now there are more devices connected to the internet than the entire human population of our planet. Cisco believes that by 2020 the total things connected to the internet will surpass 50 billion. That doesn’t even include all the devices and things not connected; such as a cell phone without battery. A new form of internet systems is beginning to emerge, and in the coming years it will see huge breakthroughs throughout the 21st century. The internet of things will change many aspects of people’s lives.

The Internet of Things (IoT) is the network of physical objects or "things" embedded with electronics, software, sensors, and connectivity to enable objects to exchange data with the manufacturer, operator

As a business manager it is important to understand the growth of IoT’s, because utilizing an IoT in your business can provide you with information to carry what products customers are looking to purchase. This would enable a manager to stay ahead of the competition and make more sales, by only ordering what your customers are going to buy. The IoT could help a manager make more successful business decisions.

The Internet of Things (IoT) is the interconnected network of sensors, machines, and devices via wireless transmission. The challenge with this concept is that it requires an abstract definition of a concrete process. Connecting devices together to enhance their potential and to increase proficiency is the theory behind the IoT. The data created, complied and used by sensors, machines and devices is the application of IoT. Pye’s article takes these concepts and further defines the impact on industrial and scientific applications.

Internet of Things brings a lot of complexity with itself. Businesses encounter multiple of barriers to adoption. Below are certain challenges which businesses face while implementing IOT.

The Internet of Things is a simple concept. Simply put, the Internet of Things involves “connecting any device with an on and off switch to the Internet” (Morgan, 2017). This includes anything and

The Internet of Things is a complex, innovative system rooted in the idea of connectivity. Individual artifacts that transmit data and information amongst each other ensure a smooth and coherent experience based off their ability to communicate through internet connection, sharing the same network to create incomparable efficiency and convenience. The Internet of Things is constantly developing to work in new areas and scenarios, further securing its essentiality in the domain of the technological future

The Internet of Things is a vision of a global network that connects various physical world objects to the IT infrastructure. This vision has been inspired by the success made in emerging technologies such as Radio-Frequency IDentification (RFID), wireless sensor networks, and mobile communication. The realisation of such a global object network will allow seamless interaction and cooperation between the real and logical world.

The Internet of Things is being describe as being the new era of internet, another industrial revolution. It is estimated by Garner, an information technology research and advisory company, that by

Internet of Things (technology operations) is in its infancy. It is not fully developed and fragmented. Luis Galvez, director of Internet of the Federation of things, a group dedicated to offering companies together to accelerate the development of operating techniques, compares the current state of technology and the birth of the operations of the computer, indicating that businesses and consumers are learning what products can connect to the Internet, and now is the time to figure out what to do done with this technology.

Over the last couple of years, the internet of things (IoT) has drawn a lot of attention from both academia’s and industries. The internet of things is often interchanged with the internet of everything. Presently, several devices can be connected at the same time, it is hoped that in the nearest future, billions of devices can be connected multifariously and will hopefully extend beyond the margins of physical components. This research will present the current state of art in research on the internet of things by reviewing related literature, ascertaining and describing current trends, current challenges, and future trends in IoT. The paper also provides possible future research directions.

Recently, the concept of the Internet as a set of connected computer devices is changed to a set of connected surrounding things of human’s living space, such as home appliances, machines, transportation, business storage, and goods etc. The number of things in the living space is larger than the number of world population. Research is going on how to make these things to communicate with each other like computer devices communicate through Internet. The communication among these things is referred as Internet of Things (IoT). Till now, there is no specific definition or standard architecture of IoT. Some researchers define the IoT as a new model that contains all of wireless communication technologies such as wireless sensor networks, mobile networks, and actuators. Each element of IoT is called a thing and should have a unique address. Things communicate using the Radio-Frequency Identification (RFID) technology and work in harmony to reach a common goal. In addition, the IoT should contain a strategy to determine its users and their privileges and restrictions.

The concept of the internet of things abbreviated as IoT was introduced as early as the late 90’s by Kevin Ashton, the Executive Director of Auto-ID Labs and a professor at Massachusetts Institute of Technology. Now, “the Internet of things is already a disruptive technology capable of determining fundamental changes that are happening in everyday life, and it is considered the fourth industrial revolution.” (Hucanu) The Internet of Things (IoT)