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What is the "Internet of Things"?

What is the "Internet of Things"?


Using the latest technology, the so-called "Internet of Things" (IoT, in English: Internet of Things) enables physical and virtual objects to be networked globally. Be it wearables such as fitness bracelets that measure the pulse and count the number of steps, networked devices and applications in the field of "smart home" and "connected cars" or M2M communication ("machine-to-machine") in industry 4.0 - the Internet of Things is revolutionizing business and everyday life and is one of the most important drivers of digital transformation.


Why is the Internet of Things booming?

The Internet of Things is one of the most used buzzwords of our time. Every third start-up deals with the Internet of Things and almost every medium-sized and corporate company tries to integrate this technology into its products.

The Internet of Things is a fairly new technology and one of the pioneers of digitization. We rely more and more on our smartphone in everyday life. The average number of smartphones per person in 2018 was 2.53 with the potential to grow to 2.85 smartphones per person by 2020. It's not just a device used to surf the Internet and receive calls. It has up to 20 different sensors that collect data every second. This structured, analyzed data offers great potential for many new, interesting business models and personalized products because it can be used to gain important knowledge about the user.

The application area of ​​the Internet of Things can be split into an internal and an external one. Internal benefits arise, for example, from the use of the Internet of Things in the manufacturing, energy and automotive industries, since it makes production more efficient (cost savings and predictive maintenance). In the external application, the Internet of Things can improve the customer experience. This customer-oriented area is lagging somewhat behind, but it has great initial development potential.



The Internet of Things has an impact on business and industry across all sectors - but also on the consumer. A general distinction must be made between an Internet of Things concept for consumers and an Internet of Things concept for industry.

Differentiation between consumers and industry

The latter relates to processes in factories and production facilities: machines and systems are equipped with intelligent sensors and networked with one another with the aim of better planning production and manufacturing processes and making them more cost and time efficient. The Internet of Things thus automates entire industrial processes along the entire value chain and enables direct communication between machines, systems, goods and people.

The Internet of Things for consumers, on the other hand, mainly includes the networking of everyday devices and is above all a consequence of the smartphone triumphal march - these are digital assistants such as Alexa, Siri and Google Assistant for networking household objects and home entertainment devices to digital energy management solutions and intelligent security solutions for your own home (keyword: Smart Home).

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