Business Magazine on Market Research - Research Nester IT & Telecom, Electronics & Smart Devices | Page 15

IOT improves the overall energy efficiency, personal cleanliness, saves time, reduces traffic congestion and pollution, helps in waste management, makes the areas less prone to disasters and enhances public safety and services by using the real-time analysis of the data received over the internet. Despite the security concerns related to hacking of personal data and internet malfunction, we can expect ourselves to be living in one of these cities in a few years down the lane, or at least be able to afford some part of this technology!

Kevin Ashton, the man behind the term, “internet of things”, defined IoT in a simple quote, “If we had computers that knew everything there was to know about things—using data they gathered without any help from us—we would be able to track and count everything, and greatly reduce waste, loss and cost. We would know when things needed replacing, repairing or recalling, and whether they were fresh or past their best.”

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