Have you ever heard the term the Internet of Things? Do you have any idea what it is? After you’ve read this piece you will have a better grasp of this technology. And as an added bonus you will also understand why it is growing at such a rapid pace on a global scale.
What is the Internet of things?
Not too long ago the internet was invented. A worldwide network was established where information can be shared. Humans use it for all kinds of purpose. But, in its most basic terms, it’s a tool with which to send and receive information.
Now, everyday appliances, devices, and computers (or also known as things) are fitted with the capabilities to also access the internet. This opens up endless possibilities for process automation. Things can now access information from the internet just like humans would. The really smart devices with Artificial Intelligence (AI) can even be programmed to search for information without any outside interference. Through the use of IoT technology devices can control other devices.
Why Is the Technology Growing?
To say it plainly, IoT supplies many benefits to its users. Scientists, inventors, engineers, coders and software developers work together to create all kinds of IoT based solutions for every problem imaginable. According to SafeAtLast statistics, IoT has grown from a mere $182.2 billion in the year 2018 to a massive $1.7 trillion in the year 2019. Here are the top reasons why businesses and people want IoT enabled products and services.
Do You Need to Save on Expenses?
Who doesn’t want more money? People are continuously looking for ways to either make more money or to spend less of it. IoT based solutions are designed to help you save money.
Take a smart thermostat for instance. This device helps you to change the temperature of your home through something as simple as your smartphone. Some users have saved up to 20% off their yearly warming and cooling costs. Apply that same principle to large business and see how quickly the financial managers come queuing for IoT enabled products.
Do You Need More Time?
The first farmer at the market gets the best price for their goods. Time is of the essence in the business world. It essentially also means money. IoT services and products help to automate business processes which can speed up vital cogs in a company. More money and opportunities come when the gears turn faster.
People like to use IoT based solutions to save time as well. Saving time off your daily chores means more time to spend with family and friends. Smart home technology is designed to incorporate AI features with IoT solutions and will help you to save more time at home.
Do You Want to Feel Safer?
Smart security products need IoT services to do their best work. Both businesses and people enjoy the safety it provides. Smart security uses all kinds of sensors, lights, and cameras to create a wholesome security strategy with which to protect people and monetary wealth from being harmed or stolen.
Do You Want to Spend Less Effort?
Smart home technology also helps to reduce the effort you need to invest in your everyday life. Certain tasks can be removed from your to-do list all together when you have IoT enabled products to lend a hand.
There is a breed of person who likes to work in the garden. But, very few people enjoy mowing the lawn. So buy yourself a smart lawnmower. Set it up close to your lawn and enjoy a cold one as you watch your lawn mow itself.
What are the Growth Trends Predicted?
With all these benefits it is only logical to expect a massive growth rate all over the world. The business world loves IoT enabled solutions. It’s currently the biggest spender in the IoT market. Businesses account for 57% of total spending across the world. IoT solutions have also sparked the greatest period of economic growth in human history. This is why some economists say the IoT market will grow with between 36-39% in the coming two years (per year).
Do You Also Want a Piece?
You can also have these same benefits the world of IoT offers. Go get your IoT enabled smart tech today.