IoT stands for the Internet of things, is simply a network of an interconnected device that is embedded with software, electronic items, and sensors. With the evolution of new technologies, IoT has become the most popular thing nowadays. The software, sensors, and electronic device used in vehicles and home appliances brought up a wide change in the evolution of IoT and increase its demand in the business market. IoT technology increases the possibilities for businesses to grow in the world market. IoT has a huge impact on the business world due to the implementation of automation and the rapid use of new technology that increases productivity and work efficiency. It also changes the process of data exchange to operate a number of business processes.
Internet of Things (IoT) has emerged as a key technology to influence businesses across diverse industry verticals. With this technology, we are able to connect lots of different devices wirelessly and control or regulate them through their smart features and sensors. These IoT devices continuously change data with each other over the internet like 3G/4G mobile data or WiFi and other wireless technologies like Bluetooth, Bluetooth Low Energy, WiMax, Zigbee, Z-wave, LoraWAN etc.
The technology of IoT is continuously evolving and redefining the world we live in. IoT has shown its possibilities in more than one domain. Home automation is one of the domains where several companies are experimenting with the technology of IoT, sensors, gadgets, devices, and IoT application development.
IoT-based home automation technology is now positively disrupting the way we live and work. IoT home automation sensors, devices, and appliances are here to make our lives more convenient, comfortable and easier. With mobility and mobile application development, home automation based on IoT has now become more realistic and useful. Apps controlling IoT solutions for home automation can now be installed in mobile devices which already come with a variety of wireless channels, such as Bluetooth, Bluetooth Smart, NFC, Wi-Fi, BLE, RFID, and iBeacon. This makes IoT for home more practical and handier.
The Internet of Things is an enormous network of smart devices which together work to collect and analyze data. Between the year 2014 and 2017, the global IoT market was projected to double its size, thereby passing the one trillion U.S. dollars mark by the same. On the same side by the year 2019, the global IoT market will be valued at more than 1.7 trillion U.S. dollars with the number of connected devices to reach 20.35 billion in the same year. Companies in the sector like transportation, Oil & Gas, and travel invest 0.6% of their revenue on IoT, which makes up to 128.87 million U.S. dollars.
One of the best ways to improve the value of a home is to invest money in new technology. There are numerous people who are starting to spend money upgrading their home. With the housing market appreciating across the country, the vast majority of homeowners have equity in their homes. This allows people to borrow money in order to improve the value of their home.
Investing in the technology of the home has several benefits. Not only will it improve the overall value of the home, but it will also improve the experience while living in it. Over time, investing in new technology should also lower the cost of living there. With the new technology options today, the total electrical usage of the home can easily be decreased.