Internet of Things (IoT) is one of the hottest topics in the technology industry. Although the story is quite old. Kevin Ashton, co-founder of MIT’s Auto-ID Center has been credited by most of the sources to establish the phrase Internet of Things in 2009. Once introduced, the term quickly entered widespread global use. It has various definitions and meanings. The Internet of things (IoT), in a few words, is a system of interrelated computing devices, mechanical and digital machines, objects, people that are provided with unique identifiers. The whole ecosystem has the option and the ability to transfer data over a network.
Advantages of IoT mobile solutions
It was a matter of time to implement IoT in mobile phones and use in mobile applications. All analyzes confirm, there are currently over 2.6 billion smartphone users in the world. Hard to disagree with Business of Apps service that the smartphone users will increase considerably in the years to come. Accessing IoT solutions via mobile apps is logical and understandable. Mobile apps development is inexpensive. This ecosystem makes them more accessible. Mobile apps offer a lot more flexible platform to collect and transmit data compared to web apps. Smartphones have immensely simplified our lives. With IoT, it is possible to interlink of gadgets and exchange information, further simplifying our lives.
Practical application in everyday life
If we look at the market, we will find a number of specific applications of IOT technology. For example. NorthStar is a global leader in designing, manufacturing and deploying an innovative range of batteries and power solutions. The company had developed a mobile app and a cloud system called ACE (Advanced Connected Energy) where the user can retrieve real-time and historical battery performance data wirelessly, both locally through a smartphone app and remotely through a cloud service. You can read about the solution here https://bsgroup.eu/northstar. Next implementation worth attention is Iron Navi Bluetooth app. It’s an app widely used by sports professionals and amateurs. Especially important for measuring sportsmen condition progress was integrating an app with a heart monitoring system. A special band and pulsimeter had a Bluetooth communication module are a must. Iron Navi app integrate Bluetooth communication with different pulsimeters bands, GPS and step counter to make training reports more precise. More detailed information is available here https://bsgroup.eu/ironnavi.
Some other spectacular examples. Probably among the first to be made IoT and smart, according to the DZone analytics, was Retail and Supply Chain Management industry. The IoT use in Amazon Go store app isn’t limited to shopping and supply chain management. It’s an opportunity for restaurants, hospitality providers, and other businesses to manage their supplies and gather valuable insights. Multiple wearables that flooded the IoT market recently can all be classified as health and fitness devices. IoT technology uses in their products brands such as Apple, Samsung, TomTom, Polar, and many others well-known companies. Really practical solutions have been implemented by Electrolux. One of the companies in the group, Electrolux Design has created a vision of the smart home of the future in order to better understand how to develop products that provide best-in-class consumer experiences in a connected world. Products including robotic window and vacuum cleaners, to smart fridges, ovens, washers, and dryers. The vision of the future smart home is one where a highly interconnected ecosystem of smart products all work together using artificial intelligence (AI) to help people organize their daily lives at home.
Statistics confirm the upward IoT trend
The value of the mobile application market will systematically grow. IoT industry is expected to rise to $8.9T in 2020 from $2.99T in 2014, making a 19.92% Compound Annual Growth Rate (CAGR). Percent of IoT usage in Industrial manufacturing is projected to grow from 2014’s $472B to $890B in 2020 IoT spending. Life sciences and IoT Application in Healthcare are also expected to grow to $1.335T in 2020, amounting to 17% CAGR. The IoT market is set to rise from its valuation of $157B in 2016 to estimated $457B by 2020, accomplishing the CAGR of 28.5%. The industry’s market share is going to be ruled by three sub-domains; Smart Cities — 26%, Industrial — 24%, and Connected Health — 20%. This will be followed by 14% Smart Homes, 7% Connected Cars, 4% share in Smart Utilities, 3% in Wearables.
2018 is going to bring a wave of new IoT applications to the markets. New forms of wireless connections and protocols, new business models with reduced costs of ownership, and hassle-free UI/UX to mention few. Various technologies such as Wi-Max, Bluetooth, Wifi, Low Power Wi-Fi, LTE, regular Ethernet, and the very latest Li-Fi are already being used to link various parts of IoT to sensors. This year would see Sigfox, LoRaWAN and 3GPP’s narrowband (NB) being tested for leveraging IoT mobile apps solutions towards a more and more practical side.
(Source: DZone; Statista; Growth Enables Analysis; MarketsandMarkets; Newgenapps).