IoT is no longer a new kid on the block and has cemented a journey so eventful and so fruitful since its invention, that today IoT is one of the top business growth drivers. Though the notion of connecting the machines or the manual systems have been a subject of interest for the technology innovators for quite a extended time and various inventions have been made. RFID was being used by the manufacturers of customer goods and retailers on the shipping pallets for easy inventory management for very long time. Though at that time, “IoT” as a term was never foreseen, the elementary context of having various manual systems communicate with each other over a distance in order to progress operational efficiency which had always been the objective. Yet, the revolution came with the idea of reinventing RFID into a networking technology by the MIT professor, Kevin Ashton, who invented the term Internet of Things (IoT). Once the IoT began to be used for assimilating such approaches (connecting and remotely monitoring various objects) into a common framework, there has been no looking back.
The Gradual Evolution of Internet of Things (IoT)
Like the fabulous quote that goes like “Rome was not built in a day”, the progression of IoT too evolved progressively over a period of time, with numerous similar experiments being undertaken. Connections between humans and machines are on the verge of a fundamental shift with the possibility to unlock immense opportunities facilitated through the concept known as the IoT. With simultaneous advances in technologies such as artificial intelligence (AI) and machine learning, these discussions can enable devices to forestall, react, retort and enhance the physical world.
The Indian market scenario
According to Fortune Business Insights, the global internet of things market was valued at US$190 billion in 2018 and is projected to reach US$1,102.6 billion by 2026, growing at a CAGR of 24.7 percent in the forecast period.
According to the graph, we can say the usage of IoT devices will be 30 billion and above. This is four times more than the total population, which is just 7.7 Billion. As per some sources, the APAC region is forecasted to become the largest global IoT region in terms of both connections and revenue by 2025 with India expected to have 5 billion connected devices by 2022. Advanced principal technologies and a proliferation of devices have helped fuel the growth of IoT technologies. In fact, investments in IoT technology are projected to grow at 13.6 percent per year through 2022.List of key technology factors aiding IoT adoption in India include networks, standards, sensors, augmented intelligence and its behaviour The major driving factor in consumer IoT application in Indian market is escalation of the tech-savvy consumer along with cumulative smartphone and mobile Internet. However, the consumer IoT adoption is likely to be slower than the IoT adoption in industrial applications due to price of IoT devices, safety as well as privacy apprehensions of consumers. The Indian IoT network consists of a varied stakeholders including hardware dealers, software application dealers, network operators and system integrators.
Applications in demand
The IoT adoption in India is anticipated to grow across industries. Some of major sectors driving are transportation and logistics, utilities, manufacturing and automotive. These sectors are likely to visualize maximum adoption levels in India due to direct association with smart city projects. Also, sectors such as healthcare, retail and agriculture are also projected to make noteworthy progress in IoT adoption
The IoT applications in India across industry sectors can be bucketed under three broad categories: consumer, industrial and public sector
Consumer applications of the IoT
While organizations believe the IoT to upsurge automation and therefore improve productivity, consumers believe it to progress the overall quality of life. Even if we visualize, most of the existing developments in the IoT are concentrating on industrial opportunities, there has been movement in the consumer space, too. The IoT applications for consumers are opening innovative and friendly entertainment experiences. Shifting consumer choices towards smart sensors, wearables and clustered systems, like fitness trackers or smart homes, are generating growth in the consumer application of the IoT. Smartphone applications that can lock doors, reset regulators and more already exist. Firms are coming up with ways of food preparation that can be done and monitored from the comfort of the living area sofa through the smartphone. Cumulative sophistication of sensors makes it possible for devices to comprehend consumers at unparalleled levels.
Industrial applications of the IoT
The term Industry 4.0 proclaims the coming of a new industrial revolution through smart manufacturing. The IoT is likely to drive operational efficacies through automation, connectivity and analytics. Industrial applications generally contain improved automation, efficient tracking and effective management through connected systems.
Public sector applications of the IoT
The IoT has substantial applications in the public sector. In India, the government’s push for smart cities is believed to be a crucial enabler for IoT adoption across a great number of these areas
IOT APPLICATIONS IN PUBLIC SECTOR
|
Category |
Sub- Category |
Example |
|
Transportation |
Public Transportation |
Using GPS tracking devices, real time monitoring of buses can be enabled and can give better information on waiting times |
|
|
Traffic |
Using GPS tracking devices, or presence detection sensors, we can enable real time traffic analytics and have smarter control of traffic lights to prevent traffic congestion |
|
|
Public bikes |
Using GPS tracking devices, we can find out where public bikes are more needed |
|
Economy |
Tourism |
Using beacons, we can push notifications on smart phones, based on location and give people additional information about place in city or art object in museum |
|
Environment |
Water supply |
Using sensors, leakage in water pipes can be detected |
|
|
Pollution |
Using sensors, we can monitor pollution levels and amount of polluting particle emitted |
|
Administration |
Electronic identity device |
Using magic bands, we can have all our identity information and important Information updated |
|
Security |
Drones |
Using computer vison, drones can identify security issues and report them |
|
|
Fire |
Using smoke detectors, automated notifications can be sent to intervention centres |
IOT application in industries
IOT applications shows increasing trend in following major industries:
IoT focus on the agriculture sector
Healthcare
IoT Applications in Manufacturing
IoT Applications in Utilities/Energy
Challenges for IOT Industry
Challenge 1: Interoperability
In any interconnected system, all of its component devices must be able to connect with each other—to express in the same language, even if these devices work in very dissimilar fields. A non-existence of mutual software interfaces, standard data formats, and common connectivity protocols are making things complex in IoT-land. For industries, this means that 40% of the total economic value of the Industrial IoT will remain tamper-proof because different systems cannot work together.
Challenge 2: Reliability
The triumph of the IoT depends on dependable IP-based networks. And, the key to a creative and operational network is tried-and-tested devices. Device reliability in the IoT is particularly of highest importance in the severe operating surroundings. Devices that are faulty, or break down due to great temperatures and other harsh environmental factors, will have a negative effect on the implementation of the IoT.
Challenge 3: Security
More and more industrial users are likely to be able to distantly access all of their Internet-connected devices and cloud-based services, the exposure to cyberattacks is greater than ever.
Challenge 4: Network Performance
Most networks are merely not designed to face the challenges of growing IoT. The trend is toward multisystem amalgamation and video scrutiny; Thus, requiring integrated networks with great bandwidth to combine video, voice, data, and control commands.
Challenge 5: Scalability
With billions of devices already connected and billions more to come, a large scale of added devices comes millions of possible event failures. Industrial systems must organise itself with scalable infrastructures that are expansion-ready.
Challenge 6: Management−All in One
The Industrial IoT needs to be constructed with maintenance and updates in mind. As a twisted web of interconnected devices is formed, system operators will not only have to succeed the original system, but also administer all of the novel systems.
Internet of Things (IoT) is somehow a leading path to the smart world with omnipresent computing and networking to ease different tasks around users and provide other tasks, such as easy monitoring of diverse phenomena surrounding us.
Author:
Yesha Makhija– Business Analyst, who has pursued her Masters in Management & has good amount experience in J.Hirani, dealing with manufacturing industries. She is a resourceful person who chills at work and later run on toes to get her work done, proving her strong ability to work under stress. Her curiosity to learn new things helped her grow better. Want to have a coffee, you have a partner.
About J.hirani: J.hirani is a Strategic Transformation team which works as a growth partner for different organisations in various industries by providing services like Agile transformation, Scenario mapping, Strategic alignment, Balance scorecard, Digital transformation, Incubating new ventures, Operation excellence and Aligning human capital.
©J.Hirani, IOT Industry, December 2020. All rights reserved.
