After impacting industry, IoT has now also found use cases for organisations working in agriculture, infrastructure and home automation industries

The IoT is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators and connectivity which enables these things to connect and exchange data. The term “Thing” in “Internet of Things” is used quite broadly. For example, a thing within the IoT could be a person with a heart monitor implant, a pet with a biochip transponder, a vehicle that has built-in sensors to alert the driver when tire pressure is low — or any other natural or man-made object that an IP address can be assigned to, thus gaining the ability to transfer data over a network.

As a result, it is becoming increasingly easy to create opportunities to directly integrate the physical world into computer-based systems which results in improvements, efficiency, economic benefits and reduced human exertion. The Internet of Things helps people live and work smarter, as well as gain complete control over their lives. In addition to offering smart devices to automate homes, IoT is essential to business. IoT provides businesses with a real-time look into how their systems really work, delivering insights into everything from the performance of machines to supply chain and logistics operations.

IoT enables companies to automate processes and reduce labour costs. It also cuts down on waste and improves service delivery, making it less expensive to manufacture and deliver goods, as well as offering transparency in customer transactions. As such, IoT is one of the most important technologies of everyday life, and it will continue to pick up steam as more businesses realize the potential of connected devices to keep them competitive.

Over the last few years, the concept of IoT has become a vital role player across various industries. More and more businesses now look to integrate its many benefits into their network infrastructures. As per Comptia, by 2030, 500 billion gadgets will be connected to the internet. Statistics on how fast technology is advancing reveal that users will connect half a trillion devices to the internet by 2030. The market is already experiencing steady growth, and IoT spending has already reached $1.2 trillion by the end of 2022.

 As per Data Reportal, 42. 5 billion people are using the internet in 2022. Statistics show that 63% of the world’s population uses the Internet. Data collected by Statista reveals that Denmark, UAE, and Ireland have the highest internet penetration rates. Internet growth stats show that in 2022, Denmark, Ireland, and the UAE have overtaken the US as the number one country when it comes to internet penetration. In 2020, America had a 90% rate. In 2022, the three countries have a whopping 99% of their citizens accessing the internet. The United Kingdom, Switzerland, and South Korea follow very closely with 98%. Saudi Arabia comes in third, with 97.9%. It is also predicted that 75.44 billion IoT devices could be in existence by 2025. IoT statistics reveal that there were over 25 billion IoT devices around the globe at the end of 2019. Statista predicts that there could be well over 50 billion by 2023. 70% of all automobiles will be connected to the Internet through the Internet of Things by 2023. Technology statistics and findings show that the automobile industry is one of the few places where innovations in the IoT have seen significant improvements in the past few years.

Aside from developing self-driving cars, research is being made to add lots of other features to the automobile industry through the Internet of Things. Soon, we could have vehicles that detect bad driving, accidents, and possibly imminent collision. In addition, cars that detect flaws in design while sending a report back to the manufacturer could also be a norm in years to come. Forbes predicts that Cellular IoT connections could reach 3.5 billion by 2023.

 Cellular IoT connection is a feature that allows sensors to be able to transfer information directly to a computer or your mobile device within a region or specified distance. Health wearables that transfer information about the state of health of a patient to a doctor or hospital are excellent examples of cellular IoT. According to McKinsey, The IoT could generate up to $11 trillion in economic value per year by 2025. The IoT can save costs, increase productivity, create employment, and bring in billions and trillions in economic value in the process.

Generally, IoT is most abundant in manufacturing, transportation and utility organizations, making use of sensors and other IoT devices; however, it has also found use cases for organizations within the agriculture, infrastructure and home automation industries, leading some organizations toward digital transformation.

IoT can benefit farmers in agriculture by making their job easier. Sensors can collect data on rainfall,  humidity, temperature and soil content, as well as other factors, that would help automate farming techniques.

(Prof. Sunil Goyal is the Dean and Chairman of – the Board of Studies, Dr BR. Ambedkar University of Social Sciences, Dr Ambedkar Nagar and Dimple Khokhar is a PhD Research Scholar)