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TopThe Internet Of Everything
The IoT has boundless potential. In its current form, the IoT consists of vast numbers of interconnected sensors that are embedded into everyday objects and systems that are subsequently distributed across a wide geographical and virtual web (Xia et al., 2012). These sensors are connected to one another via a virtual network that facilitates the collation and transmission of data (Eltayeb, 2017). The sheer reach and potential of the IoT and cloud computing in terms of its ability to facilitate communication and increase interaction entails that it holds significant potential for humanity on a social and industrial level. Figure 1 provides an overview of Internet of Things abstract concept.
Figure 1. IoT - abstract concept illustration
TopWhat Is The Iot?
The IoT is a complex network of embedded sensors and other physical components that exchange data. It was initially conceived as a means of establishing a link between the virtual world and physical objects; however, since its introduction in 1999, its usage has become so wide and diverse that it is now an integral element of contemporary life. To understand the IoT better, it can be useful to think of it as a smart city. The city spans the world, and every basic component within it is connected to each other and is aware of what one another is doing and how it is functioning.
The IoT is in a continual state of evolution and has practical applications in a vast array of technologies, functions, and industries. In fact, its applications are becoming so widely spread that scholars predict sensors will be embedded in almost all everyday objects in the future. According to Maier (2016), the IoT market is extremely promising and will reach a value of up to $11.1 Trillion by 2025. The following subsections will examine the key concepts that underpin IoT technologies and assess the ways in which they facilitate the acquisition of intelligence.