IoT stands for Internet of Things. What are these ‘things’ exactly? The answer is- everything. Everything with a physical presence can be connected to a network which may not necessarily be the public Internet but could be LAN, PAN or BAN. There are different kinds of networks to suit varied needs.
The ‘things’ are usually devices that have not been built for an Internet connection. They have a purpose of their own. When IoT tech is embedded in these devices, they are capable of connecting to other devices and transfer internal and external data which can be used to gain insights or troubleshooting.
Is IoT really as big as everyone makes it out to be?
The answer is no. IoT is actually bigger than anyone can imagine it to be because of the immense range that it offers. With communication open in this manner, data can go around the globe millions of times in a few seconds. The scope is so astounding that we cannot predict the number of ideas that will flow from this collective mind space. IoT is a powerful phenomenon that is actually ushering in the next industrial revolution.
In one word, the answer is communication. With real-time monitoring of data, troubleshooting can be done instantaneously. Insights are as accurate as possible because of remote viewing. With this knowledge at our disposal, solutions and upgrades are easy to find.
But how much energy can actually be saved? Is it substantial?
Out of 26 billion units that are expected to be installed by the year 2020, only a few will not be usable for energy efficiency application.
Even simple devices like an LED bulb will have IoT tech embedded within thus making it possible to save power on an individual, micro level. When this saving is done in a collective manner the power savings are considerable.
For IoT to really work on a globalised scale, systems will have to be standardised all over Earth. An unified system is a lot easier to monitor and find ways of saving energy from.
A vertical integration system where tech companies monopolise markets will be rendered obsolete. New players and new tech will provide a lot of options giving rise to a new, open technical ecosystem that will not stagnate in outdated technology. Simply said, even individuals will easily be able to afford IoT tech and benefit from it. It is good news for start ups, innovators and individuals but not so much for the giants in the tech market.
A few examples of IoT enabled devices that pertain to energy saving:
Temperature sensors, pollution sensors, industrial circuit breakers, HVAC room controllers etc.
The devices vary from simple sensors to more complex, detailed ones like the HVAC room controllers that automatically adjust the air temperature in a room.
All said and done, predictive management in all walks of life is better than preventive management because of the accurate real time data and analysis that IoT provides.