Internet of Things (IoT) is considered as the most disruptive technology of 21st century. It is garnering attention across most of the industries and is expected to grow in leaps and bounds over the coming years. IoT establishes connection between devices through various networking technologies to facilitate communication between end-user devices and main communication device. In the IoT ecosystem, device and sensor data is integrated with big data, analytics and other business applications, which in turn facilitates optimization of products, services and operations. M2M (machine to machine) is a forerunner of IoT wherein same type of devices are connected through wired or wireless systems; however in contrast, IoT establishes a bigger connected ecosystem by connecting multiple devices through IP-based networks. IoT communication capabilities have been shifted to next level by connecting various passive devices such as refrigerators, air conditioners, light bulbs, cars, and digital cameras, among others.
Evolving IoT technologies are positioned to revolutionise industries and applications in the areas such as manufacturing, utilities, consumer and electronic appliances, transportation, healthcare, power management through smart grids, environment monitoring, government and private infrastructure management and home automation.
Exponential increase in number of connected devices and growth of smartphones and smart technologies are contributing enormously towards the growth of IoT concept. Furthermore, rising adoption of cloud computing platforms and big data, development of affordable and advanced sensors, advancements in various high-speed networking technologies and other technological innovations will not only drive the IoT market but will also take connected ecosystems to next level.
There are some challenges and issues which can impact the growth of IoT, such as inadequate security and privacy of user data, inconsistent IoT standards, fragmented marketplace, and technological limitations impacting proper functionality of IoT ecosystems.
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