Internet of Things Applications

There’s been an enormous amount of hype around the Internet of Things (IoT) and, for applications within the industrial sector, the Industrial Internet of Things (IIoT). Predictions are rife that the power of connecting dumb machines with smart sensors enabling them to transmit data over a network and communicate with us and one another, is significant enough to warrant being hailed as the fourth industrial revolution. With the previous three being mechanization (powered by steam engines in the 1800s), mass production (powered by electricity and the assembly line in the early 1900s) and automation (powered by computers in the late 1900s), connected industry – or industry 4.0 – has a lot to live up to.

I personally believe it will and I’m certainly not the only one. The growing drive to realize IoT- and IIoT-promised benefits, such as improved health and security for consumers and increased operational efficiency and automation within industry, has led to near hockey-stick global growth in devices being connected via the Internet. According to research from International Data Corporation, the worldwide IoT market will grow from $655.8-billion (U.S.) in 2014 to $1.7-trillion in 2020 with a compound annual growth rate of 16.9 per cent.

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