The CEO Magazine
A monthly magazine for business leaders and decision makers

HOW IS ‘INTERNET OF THINGS’ TAKING THE WORLD BY STORM?

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HOW IS ‘INTERNET OF THINGS’ TAKING THE WORLD BY STORM?

The ‘Internet of Things’ (IoT) today is at a steady pace transforming in a manner to function and operate in our daily lives With its exponential growth and reach to different industries. Innumerable sectors are now being tapped by it, from smart cities to healthcare; everything is flowing amid the winds of ‘Make in India’.

Presently a lot of innovation is happening around the country in a plethora of verticals and industries. The start-ups, government, and industry are the tree min drivers of IoT and it is estimated that in a year the connected devices will boom to approximately a whopping 80 billion.

Contemplating on the constantly changing IoT scenario, The CEO Magazine decided to elaborate on the sectors that are revolutionizing due to IoT in India;

Security: Each one of us, at some point in life, has faced the possible problem of losing our keys or our mobiles carelessly. But have you imagined a scenario, where this would no more be a hassle, well IoT takes care of it? There have been products launched in the market now that help you easily locate your misplaced objects, they are making life easier by helping people trace their belongings effortlessly.

Housing: Another sector that has been completely disrupted by the interference if IoT is the housing sector. Home automation and smart homes are being revolutionized by this impeccable trajectory of IoT. From taking care of automatically managing the water pump timings to saving the energy data, everything is now being taken care of by several companies actively involving themselves in this technological bend.

Health Industry: IoT wearables are becoming a rage in the market. From preventive healthcare to fitness to checking medical conditions, it wrapping everything in its bubble wrap.  There are products launched in the market like watches, bands, walking sticks, that would not just keep a track of your calories but would also analyze and provide you Data on your blood count, steps taken, ECG monitoring, etc.

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Transport: One of the biggest dreams, we can say, in India is to completely transform the transportation system into a more technologically enhanced system. How fancy does a scenario sound where all the vehicles in the country are interconnected to a high-end system that controls everything? It could control the congestion, predicts the traffic, alerts the authorities in case of emergency, senses a problem with a vehicle, and immediate responses to an accidental case.

This technology is taking shape slowly and steadily, we have already developed smart systems to track traffic and congestions. Though we barely have even touched the surface, the focus remains currently to develop a system that has all the above-stated provisions.

Conservation of energy and agriculture: this currently is proving to be one of the biggest help in the sector of agriculture today. Technology has been developed that helps measure the minerals, pH levels, moisture content and several other factors in the soil. This further helps the farmers in understanding how healthy the soil is for produce and else.

Start-ups: Start-ups today are making and breaking the realm of creativity and innovations. Four major start-ups hubs Hyderabad, Bangalore, Mumbai, and Pune have witnessed breakthrough ideas from the ecosystem of the growing start-up culture. They are playing an instrumental role in taking IoT on another level altogether in India.

Industries: IoT has completely changed the manner in which the industries did business in India. Companies today are using this technology to reduce costs and increase their production by multifold. The amount of data that is being generated by the customers is massive and is being productively used to help them receive their shipments on time. It is positively envisioned that the future of this vertical looks bright, it will get more flexible with time and gain more capital efficiency. The installations of customizations and updates on designs would be easily updated as well.

Keeping in mind the massive biodiversity of this country, many things have to be kept in mind before this technology is taken any further. With the complete integration of technology, several challenges have come into the scenario like cyber crimes, knowledge of technology, right implementation, legalities, right usage, awareness, etc.

But the larger picture looks progressive and India is moving rapidly towards a developed IoT scenario and presently is coming up with promising innovations that are working in synergy with the start-ups, various industries, and the Government, driving them to new heights.

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