Why is IoT Popular Right Now?

Sensors and remote monitoring have been around for years. So why is Internet of Things (IoT) so hot right now?

There are four distinct modern advancements at the foundation of why IoT is here now and is going to stay.

1) Sensor cost:  Over the last couple of years sensor costs have rapidly declined. What used to cost thousands of dollars per sensor is now available for less than a $100 and comes with its own operating system, sensors and Wi-Fi radio.

2) Affordable broadband internet availability and Wi-Fi connectively:  Wi-Fi is everywhere and broadband internet connects are inexpensive. From our homes to remote oil fields, we are able to connect our phones, tablets, laptops and now sensors and control panels that monitor and control our most important assets.

3) Processing Power and the Cloud:  The evolution of computing power shows no signs of slowing anytime soon. Combined with the cloud, we have supercomputers available to us at a moment’s notice to accept volumes of data, processes it, perform complicated and resource-intensive analytics providing us answers in minutes, and sometimes seconds.

4) Mobility:  Miniaturized computers in our pockets, purses or briefcases allow us an unparalleled level of convenience for accessing data at a moment’s notice.

Each advancement in its own right is so valuable to our modern lifestyle that it more than stands on its own. But in order to deliver on the lofty IoT promise, each advancement must be represented equally for businesses to truly realize business value.