Internet Of Things

What is the internet of things?

The number of everyday items with internet connectivity is set to reach 25 billion worldwide by 2020, according to the World Economic Forum. That’s an increase of 17 billion on the corresponding number for 2013. The upward movement in the figures is a clear indication of the scale at which the internet of things, or IoT, is growing.

IoT takes commonplace objects, like lightbulbs, cars and coffee machines, and embeds them with computing devices. This upgrade means they can connect to the internet and collect and share data. Often, IoT-enabled devices can be controlled remotely via a smartphone application.

Popular IoT products available today include:

Thermostats, such as the one produced by Silicon Valley’s Nest Labs, which automatically regulate home temperatures.

Wearable patches which monitor vital signs like heart rate and temperature and send that data to healthcare providers. VitalConnect, a Silicon Valley-based startup operating since 2011, manufactures a version of this patch which includes a web-based data analytics platform for doctors.

Residential security systems which include features like keyless door entry and video surveillance streamed to mobile. Lockitron, a San Francisco Bay area company, has been a leading producer of such ‘smart’ home security solutions since 2009.

The internet of everything

Aside from products marketed directly to consumers, IoT is also having a big impact on industry. Among the benefits the technology can bring to enterprises is better resource management. Sensors embedded in a fleet of company vehicles, for example, can show managers how much distance each vehicle has covered. Such information indicates which vehicles need to be brought in for maintenance and which ones are fit to stay out on the road.

Other industry use cases of IoT include:

Factory floor monitoring: when machinery is fitted with sensors which continuously record metrics like temperature, energy and resource consumption, manufacturers gain access to real-time insights into the functioning of their physical assets.

Mine safety: by investing in a network of connected, IoT-enabled equipment, from cameras and lights to vehicles and fans, Dundee Precious Metals has increased production in its Bulgarian gold mine operation while also decreasing the risk of accident and injury to its workforce.

Mine safety: by investing in a network of connected, IoT-enabled equipment, from cameras and lights to vehicles and fans, Dundee Precious Metals has increased production in its Bulgarian gold mine operation while also decreasing the risk of accident and injury to its workforce.

Is your company ready to embrace the internet of things? Could the technology radically transform the way your industry works? Discover the most advanced uses cases of IoT in Silicon Valley, the world’s leading innovation ecosystem. Meet potential tech partners and learn how your enterprise can become a technology-driven innovation leader.