Internet of Things (IoT) is the network of physical objects.
The objects or "things" are embedded with electronics, software, sensors, and connectivity to enable it to exchange data with the manufacturer, operator and/or other connected devices based on the infrastructure. Things, in the IoT, can refer to a wide variety of devices such as heart monitoring implants, biochip transponders on farm animals, electric clams in coastal waters, automobiles with built-in sensors, or field operation devices that assist fire-fighters in search and rescue. These devices collect useful data with the help of various existing technologies and then autonomously flow the data between other devices. Current market examples include smart thermostat systems and washer/dryers that utilize Wi-Fi for remote monitoring.
Besides the plethora of new application areas for Internet connected automation to expand into, IoT is also expected to generate large amounts of data from diverse locations that is aggregated very quickly, thereby increasing the need to better index, store and process such data.
The IoT (Internet of Things) is a wide-ranging development that is driving a new economic order. IoT solutions are having a profound impact on the way business is conducted as companies, large and small, are improving their competitive position and boosting profitability. The IoT is there to help drive this process. It powers the seamless connection and integration between "things" and "apps" delivering operational efficiency, enhanced customer relations, insightful information based on real-time data and the enablement of new business models.
The iot role in this new economic order is to facilitate the creation of applications and enable fast deployment and life cycle management of the solutions.