If you relish a convenient life and smarter home, the Internet of Things must have been an integral-part by now. As the communications extend from devices to appliances, IoT networks shall soon become as common as Wi-Fi at our homes.
Technological progress has now spawned an era of digital transformation. The transformation was brought about through digitisation as analogue information was converted to digital data.
Artificial intelligence (AI), data science, web design and development are the three major domains collectively shaping the world of the internet right now. However, nothing may immediately come to one’s mind to establish a correlation among the three, says Yash Mehta.
The internet of things or IoT has been touted as one of the most hyped-up technologies that is seen to be significant in the near future. IoT will affect every space from smart homes to connected cars.
Although the exact numbers of the market potential of IoT varies between various estimates, McKinsey sets it to be between $2.7(€2.19) to $6.2(€5.04) trillion by 2025. It is estimated that the number of connected devices is set to increase approximately five fold, from 27 billion in 2017 to 125 billion by 2030. However, this potential can be leveraged only with a capable workforce.
The world, today, is running with the power of smartphones and with mobile devices nudging towards the connected technology, the apps are becoming the main force behind the acceleration of connected technology.
The Internet of Things (IoT) has already proven its vitality in the business and the economic world. IoT has touched almost every corner of the business world, says IoT writer Yash Mehta, and one such corner which is transformed by IoT in marketing is social media.
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