The concept of the Internet of Things (IoT) is not new. In fact, it has been around for a few decades now, since the first internet connected toaster was revealed at a conference in 1989.
IoT, to put it simply, is the concept of connecting any device with an on and off switch to the Internet (and/or to each other). This includes everything from mobile phones, washing machines, headphones, lamps, wearable devices and almost anything else. An example of this is the smart meters you can now get to manage your heating even when you’re not home. If you know it is going to be a cold night, you can program your heating to come on 30 minutes before you get home simply by using your smart phone. This is, however, just the start of it.
It has already been predicted that by 2025, the Internet of Things (IoT) will have a potential economic impact of $3.9 (£2.8) trillion, amounting to around 11 per cent of the world economy. Gartner has also estimated that 25 billion ‘things’ will be connected and in use by 2020.
But what impact will the Internet of Things have on your business?
This really comes down to what industry you are in.
Farmers have already started using the IoT to monitor their crops and cattle, allowing them to track the health and growth of their produce, whilst in manufacturing, the industry has been using the IoT to organise tools, machinery and even people.
The possibility of devices becoming more connected is likely to make its way into most businesses, just like computers and the internet has, but it really depends on how you use it. Could you be using the IoT within your business to improve efficiency?
Of course, like anything technology related, security is a major factor, and many security experts are arguing that not enough is being done to make sure that the IoT is safe from cyber criminals. In fact, 39% of IT professionals said that data security was a factor in preventing them from taking advantage of the IoT.
With the Internet of Things, each device connects with an existing network. This means that if you’re considering using the Internet of Things within your organisation, your network needs to be equipped and secure enough to cope with future IoT challenges.
Do you have questions about the IoT or ways to help prepare your company for the future? Talk to a member of our team on 0800 9520652 and we’ll be happy to help.