What is IoT? Internet of Things (IoT) Applications

A network of physical items (things) equipped with sensors, software, and other technologies is referred to as the Internet of Things (IoT) in order to connect and exchange data with other systems and devices over the Internet. These items might be anything from high-tech industrial instruments to commonplace home appliances. Experts estimate that there are already over 7 billion IoT devices connected, and by 2020 and 2025, there will be 10 billion and 22 billion, respectively. Oracle has a network of partners for devices.

Why the Internet of Things (IoT) is so important

IoT has emerged as one of the 21st century’s most significant technologies in the last few years. With the use of embedded devices, commonplace items like thermostats, vehicles, baby monitors, and kitchen appliances may now be seamlessly connected to the Internet, facilitating communication between people, processes, and things.

Technologies like mobile, cloud, big data, analytics, and low-cost computing allow physical objects to exchange and gather data with little help from humans. Digital systems are able to record, monitor, and orchestrate every interaction between connected objects in this hyperconnected world. The digital and real worlds intersect and work together.

Technologies enabling IoT

• While the idea of the Internet of Things has been around for a while, it has just been feasible due to remarkable developments in a number of different technologies.

• inexpensive, low-power sensor technology. An increasing number of manufacturers are gaining access to IoT technology thanks to inexpensive, extremely dependable sensors.

• Interaction. Connecting sensors to the cloud and other “things” and transferring data effectively is made simple by the various Internet network protocols.

• Platforms for Cloud Computing. Cloud platforms are becoming more and more accessible, providing consumers and organisations with the infrastructure they need to grow without having to handle it all themselves.

• Analytics and machine learning. Businesses may now quickly and easily gain insights thanks to developments in machine learning and analytics as well as access to a vast range of data stored in the cloud. IoT is being pushed further by the emergence of these linked technologies, which are being fueled by the data produced by IoT.

What is Industrial IoT?

The term “Industrial Internet of Things” (IIoT) describes the use of IoT technology in industrial settings, particularly in relation to cloud-based sensor and device control and measurement. See this Titan client story (PDF) for an illustration of IIoT in action. Machine-to-machine (M2M) communication has been utilised historically by industrial organisations to accomplish wireless automation and control. But the emergence of the cloud and related technologies (such machine learning and analytics) has made it possible to automate new levels, opening up new revenue streams and business models. IIoT is also known as Industry 4.0, or the fourth wave of the industrial revolution. Typical IIoT applications include:

• Astute Production
• Predictive and Preventive Maintenance with Connected Assets
• Intelligent Power System
• Smart City Networked Transportation
• Intelligent Digital Supply Chain 

Unlocking Business Value with IoT

• Businesses are benefiting greatly from IoT as it becomes more widely available in the market. This worth consists of:

• Utilise IoT data to gain data-driven insights for improved business management.

            Boost efficiency and productivity in the workplace

• Develop fresh revenue streams and company strategies.
• Connect your physical and digital business worlds with ease and seamlessness to accelerate time to value. 

What are IoT Applications?

Business-Ready SaaS IoT Applications

Software-as-a-service (SaaS) programs that analyse and display IoT sensor data to corporate users via dashboards are known as IoT intelligent apps. Complete IoT intelligent applications exist:

Machine learning algorithms are used by Internet of Things apps to evaluate massive amounts of cloud-based connected sensor data. Mean time between failure statistics, key performance metrics, and other data can be accessed through real-time IoT dashboards and alerts. Algorithms based on machine learning are able to recognize abnormalities in equipment, notify users, and even perform self-correction or preventative actions.

Without having to start from scratch, business users may instantly improve current supply chain, customer service, human resources, and financial services processes using cloud-based IoT apps. 

How to deploy IoT applications

Numerous applications are made possible by the Internet of Things’ capacity to transmit sensor data and facilitate device-to-device communication. The following are some of the most popular IoT applications and what they can do:

Improve tracking and “ring-fencing” of physical assets.

Businesses can promptly ascertain the whereabouts of assets through tracking, and high-value assets can be shielded from theft or removal with the use of ring-fencing.

Transform business processes.

One instance is the use of Internet of Things (IoT) devices on linked assets to track the condition of distant machinery and initiate service requests for routine maintenance. Remote machine monitoring makes it possible to develop new product-as-a-service business models in which clients pay just for the use of a product rather than having to buy it.

Industries that can benefit from IoT

Organisations that stand to gain from integrating sensor devices into their business operations are the ideal candidates for IoT

Manufacturing

Production line monitoring gives manufacturers a competitive edge by allowing preventive maintenance when sensors identify imminent equipment breakdown. In fact, sensors are able to detect drops in production output. Manufacturers may swiftly verify the accuracy of their equipment or stop using it until repairs are finished thanks to sensor alerts. As a result, businesses can lower operating expenses and enhance asset management and uptime.

Car

The use of IoT applications is yielding considerable benefits for the automotive industry. In addition to the advantages of implementing IoT on the manufacturing line, sensors in vehicles currently on the road have the ability to identify imminent equipment breakdowns and notify drivers with recommendations and data. Car suppliers and manufacturers can better understand how to maintain cars and advise drivers by using the data gathered and combined by Internet of Things applications.

Transportation and Logistics

Numerous Internet of Things applications are beneficial to transportation and logistics systems. Fleets of automobiles, trucks, ships, and trains carrying goods are able to reroute based on weather, driver availability, and vehicle availability thanks to IoT sensor data. Additionally, sensors for temperature control monitoring and track-and-trace can be installed in the inventory itself. IoT monitoring systems that send alerts when the temperature increases or falls to levels that could endanger product safety can be very helpful to the food and beverage, floral, and pharmaceutical industries, as they frequently handle temperature-sensitive inventory.

Retail

Retail businesses may save operating expenses, enhance customer satisfaction, streamline supply chains, and manage inventory with the help of IoT apps. For instance, RFID-based data can be gathered via smart shelves with weight sensors and transmitted to an IoT platform to automatically track inventory and send out notifications when things are running low. Customers can receive an engaging experience from beacons by receiving personalised offers and promotions.

Public institution

IoT has enormous advantages in the public sector and other service-related settings. For instance, an IoT-based application can be used by a government-owned utility to alert customers of both minor and major disruptions to water, power, or sewer services. IoT apps have the ability to gather information regarding the severity of the outage and allocate resources to aid in the utility’s quicker recovery.

Medical institution

The medical sector gains a lot from IoT asset monitoring. Wheelchairs and other patient support equipment must be precisely located for the use of doctors, nurses, and orderlies. Hospital wheelchairs that have IoT sensors installed may be tracked from an IoT asset monitoring app, making it easy for someone in need of a wheelchair to locate the closest one. In order to ensure appropriate use and financial accounting of each department’s physical assets, a large number of hospital assets are tracked in this manner.

General safety across all industries

IoT has applications beyond asset tracking, such as enhancing worker safety. Workers in dangerous settings, such as mines, oil and gas fields, chemical factories, and power plants, must be aware of potentially harmful events that could happen to them. Employees can be alerted to accidents and rescued as soon as feasible if they are connected to IoT sensor-based applications. Wearables with environmental and human health monitoring capabilities are being utilised in Internet of Things applications. With the use of this kind of application, patients can acquire a better understanding of their own health status, and physicians can keep an eye on their patients from a distance.