Internet of Things (IoT) Introduction
The Internet of Things (IoT) certainly earns plenty of headlines. Now, it’s time for a reality check. Here’s a look at key IoT definitions, market forecasts, potential standards and challenges facing CIOs, chief data officers (CDOs) and those who hope to make business sense of data from all types of devices.Image: iStock
1. Internet of Things (IoT) Definition
The Internet of Things (IoT) involves embedded computing devices interconnected with the existing Internet infrastructure. Examples include automobiles with built-in sensors; smart thermostats; and home appliances that are networked for remote monitoring. Image: iStock
2. Internet of Things (IoT) Market Size
The Internet of Things (IoT) will include 26 billion units installed by 2020, Gartner predicts. By that time, IoT product and service suppliers will generate incremental revenue exceeding $300 billion, mostly in services, Gartner forecasts.Naturally, businesses from all verticals see IoT opportunities ahead.Cisco Systems blends IoT with more traditional IT devices (PCs, tablets, smartphones, etc.) to describe “the Internet of Everything.” There will be more mobile devices and smartphones connected than the total global population by 2015, according to Cisco. By 2020, more than 5 billion people will be connected, not to mention 50 billion things, Cisco forecasts. Big companies see IoT opportunities from different angles. GE, for instance, refers to the global network connecting people, data and machines as the Industrial Internet. Moreover, the Industrial Internet has the potential to add $10 trillion to $15 trillion to the GDP (global domestic product) from 2012 to 2032, CEO Jeff Immelt has predicted. GE is investing $1 billion to develop related Industrial Internet technologies and applications.Image: iStock
3. Internet of Things (IoT) Standards
For IoT to really thrive, vendors and customers will need to embrace open standards that improve device monitoring and management; big data information gathering and analytics; and overall network communications.Key IoT standards initiatives are underway at the IEEE Standards Association (IEEE-SA).Also, vendor-led groups like the AllSeen Alliance are driving open source efforts to advance IoT beyond the connected home. More than 100 member companies include consumer electronics companies, home appliance makers, auto makers, cloud providers, retailers, software developers and more.Image: iStock
4. IoT Security Considerations
The increasing digitization and automation of the multitudes of devices deployed across different areas of modern urban environments are set to create new security challenges to many industries, according to Gartner.Image: iStock
5. IoT People & Process Considerations
Significant security challenges will remain as the big data created as a result of the deployment of myriad devices will drastically increase security complexity. This, in turn, will have an impact on availability requirements, which are also expected to increase, putting real-time business processes and, potentially, personal safety at risk, Gartner asserts.Image: iStock
6. IoT Consumer Privacy Considerations
As is already the case with smart metering equipment and increasingly digitized automobiles, there will be a vast amount of data providing information on users' personal use of devices that, if not secured, can give rise to breaches of privacy. This is particularly challenging as the information generated by IoT is a key to bringing better services and the management of such devices, Gartner states.Image: iStock
7. IoT Data Management Considerations
The impact of the IoT on storage is two-pronged in types of data to be stored: personal data (consumer-driven) and big data (enterprise-driven). As apps and devices continue to learn about the user, significant data will be generated, Gartner states.Image: iStock
8. IoT Storage Management Considerations
The impact of the IoT on storage infrastructure is another factor contributing to the increasing demand for more storage capacity, and one that will have to be addressed as this data becomes more prevalent. The focus today must be on storage capacity, as well as whether or not the business can harvest and use IoT data in a cost-effective manner, Gartner asserts.Image: iStock
9. IoT Server Investment Considerations
The impact of IoT on the server market will be largely focused on increased investment in key vertical industries and organizations related to those industries where IoT can be profitable or add significant value, Gartner states.Image: iStock
10. IoT Bandwidth Considerations
Existing data center WAN links are sized for the moderate-bandwidth requirements generated by human interactions with applications. IoT promises to dramatically change these patterns by transferring massive amounts of small message sensor data to the data center for processing, dramatically increasing inbound data center bandwidth requirements, Gartner said.Image: iStock
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Special thanks to Cisco Systems, GE and Gartner for the data points in this slide show. Information Management’s views and perspectives are injected throughout. For more slide shows please visit gallery area.Image: iStock