IoT Ecosystem

The Internet of Things (IoT) has profoundly revolutionizing the landscape of Industrial and Functional process across all domains. The IoT Ecosystem can be built using four major components: 1. IoT Devices 2. Communication technology 3. Internet 4. Data storage and processing. In a nutshell, IoT aims to integrate the physical objects with the virtual world using cloud/internet platform as a medium to communicate and exchange the information.

IoT EcoSystem

Currently, around 8 billion IoT devices connected globally and it is estimated that around 24 billion IoT devices will be connected globally by the end of 2030. Undoubtedly, IoT is the key enabling technology for digital transformation to the industries and businesses by upgrading their existing process. It is noted that the technologies, such as, digital twin, machine learning and 5G infrastructure are boosting the adoption of IoT across various market segments. Some segments like precision agriculture, telemedicine, smart cities and smart grids are gaining significant opportunities for IoT market.

COVID-19 pandemic has created an unparalleled impact on people, business and economies across the countries. The post lock down has forced the industries and enterprises to quickly adopt the new strategies by investing in digital technology platforms to reshape their mode of operation. Therefore, the IoT enabled solutions will boost the market and likely to showcase significant growth opportunities in the post-pandemic world.

Let us consider the role of IoT in health care sector. Currently, the health industry uses smart sensor based connected devices for monitoring the vital medical parameters of patients like blood glucose level, blood pressure, cardiac status, brain or nerve activity and more. The connected devices continuously share this information to the doctors at any location. This greatly helps the doctors to correctly analyze the information and provide medical recommendation. Apart from remote patient monitoring and consultation, there are plenty of E-health smart solutions are emerging in the market, broadly known as Internet of Medical Things (IoMT).

Recent survey by ‘World Health Organisation (WHO)’ reveals that more than 50% of prescribed medicines are not taken as directed by the physicians. To resolve this, a company called ‘Proteus’ developed ingestible sensors known as ‘smart pills’ analyses patient health patterns and medication treatment effectiveness leading to effective healthcare decisions for everyone involved. There are also ‘smart pills’ featured with tiny cameras developed by Medtronic. It allows to visualize the patient organs for diagnosis.

Over the next ten years, we can able to see a greater number of ‘smart hospitals’ with the integration of IoT solutions. This will greatly replace all cumbersome paper work of patient health record/register with automated, centralized E-ledger using Blockchain technology. Another interesting spotlight in healthcare industry is ‘AI powered Robotic Surgery’. Robotic assisted surgery has been identified as emerging medical technology to carry out surgical procedures. A survey by ‘Business Insider’ predicted that by the end of 2030, Internet of Medical Things (IoMT) using advance AI, Data analytics and Block chain will revolutionize the healthcare sector.       

Happy learning!  Stay tuned for more articles!  


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