What is the Internet of Things?

The “Internet of Things” (IoT) may sound complex, but in actuality, is a fairly simple concept to understand. On a very high level, IoT is the ability for things that contain embedded technologies to sense, communicate, interact, and collaborate with other things, thus creating a network of physical objects. In recent years this concept has gained enormous momentum, and is now one of the most talked about things in the world of technology today. At this rapid rate of growth, it is projected that there will be approximately 26 billion connected devices by 2020.

why-iot What is Internet of Things (IoT)?

For OEMs

With the Internet of Things, manufacturers can give each of their physical assets a digital identity, enabling them to know the exact location, condition, and usage of their assets in real time throughout the supply chain.

Gain insight into customer usage and device performance to improve future products

Open new opportunity to monetize value added service around product usage

Better insight into supply chain management

Ability to update products in the field to enhance capabilities and extend lifecycle

For Consumers

Consumer adoption of connected devices such as smart appliances and wearable devices is rising. Today, more than 30% of consumers already own or plan to purchase an in-home connected device in the next two years according to a report by Acquity Group. Some of the key benefits connected devices provide consumers are:

Ability to remotely monitor and control devices for peace of mind

Improve energy efficiency of household devices

Extends lifecycle for products, through the ability to update

Ability to integrate multiple connected products for improved customer experience

Ability for products to manage themselves

The Ayla IoT Blog

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