That can be any object able to gather and transmit data over a network like a robot vacuum cleaner, a Smart TV, the chip in your pet, the sensors in your car that alert you to any technical problem, or even a medical device like a pacemaker.

Last year there were around 10 billion IoT devices. The main industry sectors with “more than 100 million connected IoT devices are electricity, gas, steam & A/C, water supply & waste management, retail & wholesale, transportation & storage, and government”.

So, let’s explore the concept of IoT and understand why they are so important, especially for companies.

What are IoT devices, and how do they work?

Is it possible for you to spend an entire day without any technology? Tech is everywhere and is part of our routine, even when we sleep.

And that is because of IoT. The term was coined in 1999 by Kevin Ashton, almost a decade after John Romkey and Simon Hackett invented the first IoT device.

Simplistically, IoT is a network of objects with computing and communication capabilities that can connect to the Internet.

IoT is capable of creating data from objects connected. It works through ecosystems that rely on smart internet-enabled devices.

In this way, IoT devices can use embedded systems capable of collecting, sending, and managing actions on stored data.

Why is IoT important?

As we have stated, the Internet of Things refers to the interaction and connection between the most varied objects present in our routine and the world wide web.

IoT facilitates our lives and works once it has a connection to daily objects that perform varied functions with different applicabilities.

That is because it optimizes the performance of objects. Therefore, facilitate our daily life.

But it also facilitates several businesses. IoT is synonymous with efficiency and productivity.

Benefits of IoT in business

Using IoT devices, it’s possible to improve business models and establish new connections with consumers and other partners.

IoT helps deepen real-time data about customers and trading partners, stimulating data-driven innovation.

Therefore, IoT can help companies to improve the customer experience. With the data collected by IoT devices, companies can create customized packages.

According to Statista, IoT devices are in several industry verticals and consumer markets.

The consumer segment accounts for around 60 percent of all IoT-connected devices in 2020.

The number of Internet of Things devices worldwide is forecast to be more than 25.4 billion in 2030.

It also contributes to cutting operating costs and downtime once it enables companies to automate processes.

IoT can also improve work environments.

As you can see, IoT devices have an enormous presence in our daily life and our work environments.

At Zalox, we can help you understand the best option for your business or project.