Collectively known as iot or internet of things; various items including refrigerators and sprinkler systems are interconnected with the help of wires. Such devices may become harmful for the human life as stated in the iot reports. With the number of such items on continuous increase, the relevant security issues are also on rise. Human safety may be at great risk due to such items that pose great danger to all concerned.

Importance of iot, i.e. internet of things – The recent years have witnessed great attention as regards sensors and actuators that are interconnected. The iot technology can be helpful in creating actual economic values. It has been ascertained that wide publicity may be helpful in understanding its full potential. An understanding must be created to know the real values for addressing a set of system issues like interoperability.

A thorough study has been conducted in respect of devices monitoring health, wellness and the manufacturers using sensors for optimizing the maintenance of equipment. It has been revealed that iot would impact the economy to great extent in the coming years. All this can be possible by placing the relevant conditions in place and removing the hurdles. Those engaged in using iot technology will be able to develop the right systems and initiate suitable actions for maximizing the values.

It may be noted that interoperability to the tune of forty percent on average and approximately sixty percent in certain settings is needed. Presently only a minor iot data out of the existing data is used. Oil rigs with about thirty thousand sensors use only one percent of the available data that too for detecting and controlling the anomalies. It is not utilized for prediction or optimization. The iot reports say that it plays a major role for development of the economies. The developing economies could be benefited by generating about forty percent of the iot values and approx to the tune of fifty percent in certain settings.

It is worth mentioning that the iot users will be at greater benefits, say by about ninety percent of the values generated by iot applications. The iot technology is associated with the dynamic industry that is evolving around it. The new players and the incumbents have excellent opportunities as regards iot.

The coming years could see businesses making trillions of dollars through iot technology. Digitization of vehicles, machines and other such things will have a great impact. Internet of things, i.e. iot is putting a great impact with regard to making and distribution of various goods. Same is true with their servicing or refining. Innovative methods are necessary to capture the full potential of iot applications. Investment in new talents and capabilities are also needed for this purpose.

Internet of Things has become much prominent. It is known as the future Industrial Revolution. It is certainly going to impact the consumers, governments and the businesses as regards their various activities and mutual interaction.

The above unique features of iot, i.e. Internet of Things highlight its great importance for all concerned.