IOT is the short form of internet of things. IOT is the growing network of physical objects like vehicles, devices, buildings and any other items which are linked with electronics, sensor, software and network connectivity, which helps these objects to share, transfer and exchange information and data, i.e., it links smart objects to the internet. It is estimated that IOT will have 50 billion connected to the internet till 2020.
Benefits of IOT
The connected world will impact consumers and the business world drastically. For instance, it changes the way how customers, users and companies come together. Instead of just meeting and connected at the time of sale, the relationship becomes a continuous with the long lasting interaction, which lasts as long as the customer keeps using a products and services and also corresponding services.
Private users of connected devices will see the new services enriching their relationship to the products, providing higher quality of life, comfort, security, and fun. Corporate and Domestic users of these services will benefit from cost savings, efficiency gains and better allocation of resources.
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