Internet of Things (IoT)

This article is a translation of the German IOTA Beginner’s Guide by Schmucklos.

Internet of Things

The Internet of Things (IoT) refers to the use of intelligent networked devices, systems and everyday objects. In the future, things will be networked with each other and exchange data via the Internet, even vehicles and buildings will be included. The future IoT will create a large digital ecosystem with far-reaching possibilities.

Experts predict that technological progress will lead to an exponential growth rate and that IoT will spread rapidly in the coming years. According to forecasts, more than 50 billion devices will be connected in just a few years.

The future IoT will unleash a new dimension of services that have the potential to improve the quality of life of consumers in the long term. It will deliver more efficient solutions for many areas of daily life and will influence energy supply, banking, transport, administration, security, health, education and many other aspects of daily life.

Internet of Things
Internet of Things

For companies, the IoT can open up opportunities for completely new business fields. Through “machine to machine” payments (M2M) that will be possible in the future, many business processes will be completely automated and run without human intervention. The most frequently cited example is probably the car, which automatically charges for its parking time in the parking lot or automatically bills the electricity at the charging station from the wallet integrated in the car.

With the new technological possibilities arising, a gigantic growth market is emerging and the economic potential of the “Internet of Things” is huge, experts even speak of a trillion dollar market.

IoT applications in the industry

Automotive industry: Large-scale automation solutions, automated robot systems and monitoring of production plants could be realized.

Mechanical and systems engineering: A “pay per use” offer for production plants would be possible, with users acting both as operators and suppliers. Remote maintenance and remote monitoring systems in production can benefit from IoT. Remote maintenance and remote monitoring means having a compact overview of what is happening where, where there are problems and where they are imminent. In some cases, it is also possible to react to this automatically.

Electronics industry: The large variety of models and ever smaller batch sizes (also in prototype production) demand more flexible production facilities. This can be achieved, for example, by an IoT-controlled and fully automated conversion of the systems. A “pay per use” offer would also be conceivable.

Metal industry: In the metalworking industry, exact tolerances in the nanometer range are often required. Industrial IoT can help to make production more sustainable and precise in order to avoid errors or to document them if necessary. This includes, for example, the use of visual inspection systems with the possibility of storing the data.

Other manufacturing industries: Logistics generally represents a major cost factor in the manufacturing industry. Through digital tracking of production factors, efficiency can be increased considerably.

Utilities (electricity, water, gas): For utilities, remote maintenance and monitoring of wind turbines or similar energy producing facilities is important. The use of IoT leads to major efficiency improvements in the supply chain from production to the end user.

Agriculture, forestry, construction: In the agricultural sector, a lot of sensor technology is used to obtain real-time data on soil procurement and livestock. The construction industry works with digital monitoring of processes on large construction sites.

Original source

Last Updated on 16. February 2021