Internet of Things for business

Home Internet of Things
A classic example is the smart home. It is capable of making decisions and performing certain tasks without human intervention. For example, the system can turn off the light or iron you forgot to turn off, open or close windows, detect a leak in the pipes and much more.

Examples of Internet of Things devices include mobile phones, refrigerators, watches, fitness trackers, smart fire alarms, door locks, bicycles, medical sensors, smart security systems and virtual assistants such as Alexa and Google Home.

Industrial Internet of Things
Using IoT technology is a great way to reduce costs, optimise production processes and generally improve business efficiency. This intelligent digital environment for managing connected devices can solve many tasks for businesses with little or no human involvement.

According to IoT Analytics, the Industrial Internet of Things will become a massive phenomenon by 2023. The success rate of IoT projects is now 14% higher than five years ago. The average time for projects to break even has dropped from 24 to 20 months.
The Internet of Things (IoT) is a set of physical objects connected to the Internet and exchanging data. They can interact with each other and with their environment.

The Internet of Things is still young, but IoT devices are already filling our lives. These technologies surround us everywhere: on the street, in offices, in educational institutions, in businesses, in cars, etc. By the end of 2022, 14.3 billion active devices will be connected to the Internet of Things. This is the data cited by IoT analytics experts. It is predicted that by the end of 2023, the number of IoT devices will increase to 16.8 billion, and by 2027 it will exceed 29 billion objects.

Magenta Favorita Portugal talks about the history of the development of the Internet of Things and its areas of application.

The story. A $20,000 fridge and a remote-controlled toaster
The first thing to go online was in 1990. American programmer John Romkey did it. At the Interop technology show, he gave a demonstration of controlling a toaster in his house over the network.

The term "Internet of Things" appeared in 1999. It was a concept that described the interaction of various devices with each other and with data centres via communication networks. In effect, the concept was to remove humans from the process of requesting and transmitting information.

In 2000, LG created an intelligent refrigerator that cost $20,000. To do this, they had to build almost an entire computer into it. The fridge could access the internet, make video calls, measure temperature and monitor its technical condition. But it could not control the shelf life of food.

The development of the Internet of Things has been influenced by cloud technology. This made it possible not to duplicate the entire computer in the fridge or other appliances. A simple IoT device can be built into the appliance that collects data and transmits it to the cloud, where it is stored and processed. This eliminates the need for powerful processors, hard drives and screens, significantly reducing costs.
Examples of how the Internet of Things is being used in business
  • Agriculture. This is one of the areas where IoT is being used most actively. Sensors can be used to monitor the condition of animals, plants and soil; optimise the use of water, agrochemicals and fertilisers; reduce losses due to sub-optimal storage of raw materials and products; automate irrigation, fertiliser and animal feeding systems; predict crop quality and quantity and plan product distribution accordingly. In addition, unmanned agricultural technology is used for fertiliser application, pest control and harvesting.
  • Industry. A prime example is the so-called smart factory concept, which monitors industrial equipment, looks for problem areas and then rebuilds to prevent breakdowns. IoT technologies make it possible to control the manufacturing process, from the supply of raw materials to the finished product. They help to significantly increase production efficiency, protect workers and improve product quality.
  • Transport and logistics. The process of shipping goods from the warehouse can be fully automated thanks to intelligent manipulators that can independently locate and load the required goods. Fleet management with IoT devices can reduce vehicle operating costs. For example, you can use these technologies to monitor the technical condition of your vehicles, find the optimal route to the destination, control fuel consumption and perform tasks.
  • Retail. In autonomous supermarkets, there are no cashiers or queues. All you need is a smartphone to shop.

One of the areas of work of Magenta Favorita software development is the development and implementation of the Internet of Things. Our company has a comprehensive approach to solving your business problems. We form a project team of highly qualified specialists to ensure maximum quality and security of the software product.
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