The Internet of Things: Just a Fad or Worth the Buzz?

The IoT, or Internet of Things, is defined as network interconnectivity in which everyday objects such as machines and hardware are able to communicate with one another without the need for human-to-computer interaction. This is also sometimes referred to as machine-to-machine (M2M) communication.

Chances are that you’ve read about or have at least heard about the IoT in the last year. Until now, most of the news has been focused on smart homes and wearables. However, the real future of the IoT is forecasted to have a larger effect on the manufacturing, oil and gas and utility sectors, also referred to as the Industrial Internet of Things or IIoT.  

It’s becoming more apparent that the IoT is destined to be the next big thing. According to industry experts, the Internet of Things is at the peak of the hype cycle, and it’s no surprise that organizations across the globe are now beginning to take notice. With the increased efficiency and cost-saving potential that the IoT holds, organizations are beginning to explore how they can incorporate the IoT into their business models. The IoT offers exponential opportunities for improved functionality and capabilities, greater reliability and increased product utilization – all of which transcend traditional product boundaries.

In this slideshow, Guilherme Spina, founder and CEO of V2COM, an Internet of Things solutions company, looks at a few key IoT takeaways.

Key IoT Takeaways

Click through for more on the benefits, challenges and future of the Internet of Things, as identified by Guilherme Spina, founder and CEO of V2COM.

IoT Benefits

Autonomous maintenance, efficiency and effectiveness of production, system integration and asset management are just a few of the areas where the IoT can increase productivity.

IoT Challenges

A few common IoT solution complexities to keep in mind include selecting the right sensors and communication ports for the project, cloud data security and the IoT solution’s agility, as well as its ability to evolve with today’s changing technology.

IoT Misconceptions

Machine automation has been around for quite some time and it should be made clear that the IoT is much more than simple automation. The future of the IoT will actually predict and automate the entire decision-making process and lead companies to an unprecedented level of efficiency.

IoT Trends

We see manufacturers already utilizing the IoT as a tool for keeping focused and staying ahead of their industry competition. Manufacturers are ensuring that their IoT processes are consistently leading-edge and, most importantly, customizable. By continuously updating their IoT interfacing, they are better able to deliver smart, automated decision processes for their clients and the company itself.

IoT Predictions

Customizability is key. Companies and manufacturers that create IoT solutions that are future-focused will continue to stay ahead of their industry competition. IoT solutions must be able to be updated and adapt to advancements in software and technology. The ability for the solution to remain agile will ultimately deliver the best IoT connectivity and create seamless device intelligence.