In this blog post, we will examine the definition and components of the Internet of Things (IoT) and look at examples of its use in industry, personal life, and the public sector to understand why it is considered a core technology.
Humankind has always craved change. Political systems have changed through various revolutions, and science has advanced through the pursuit of curiosity. This led to the Industrial Revolution. The First Industrial Revolution was caused by the mechanization of production processes, and the Second Industrial Revolution was caused by the birth of the electrical industry. The Third Industrial Revolution was driven by the development of information and communication technology. And we can predict that the Fourth Industrial Revolution will occur in the future. It is widely believed that the Fourth Industrial Revolution will be driven by key industries in the near future. But what are these industries? Many experts believe that the Fourth Industrial Revolution will be driven by the convergence of manufacturing and information and communications technology (ICT).
In particular, the Fourth Industrial Revolution is expected to improve the quality of human life and bring innovation to various industries. For example, in the medical field, remote medical care and personalized treatment will become possible, and in the transportation field, autonomous vehicles will be introduced to reduce traffic accidents and optimize traffic flow. In addition, in the field of education, artificial intelligence tutors will emerge to provide education optimized for individual learners. These changes are just some of the many possibilities that the Fourth Industrial Revolution can bring.
There are events where you can see these future trends. CES (Consumer Electronics Show) and MWC (Mobile World Congress) are two such events. The key keywords for the 2016 events were IoT (Internet of Things) and VR (Virtual Reality). This article will explain the definition and components of IoT, which will lead the future industry, and describe why this technology is attracting attention in the industry.
There is an organization called ITU under the United Nations. It stands for International Telecommunication Union, and it is a highly authoritative organization specializing in telecommunications. The Internet of Things, as defined by this organization, is “a global scale infrastructure that enables advanced services through the interconnection of various physical and virtual objects using existing or future interoperable information and communication technologies.” To explain it in simpler terms, it is the creation of new services by connecting objects to a network through wireless communication by embedding chips that can connect to the network and sensors that can obtain information from objects. For example, a smart band is a bracelet with a built-in sensor that can obtain a person’s health information and a chip that can connect to a network, allowing the wearer to check their heart rate and stress level on a separate device, such as a smartphone, simply by wearing the bracelet on their arm.
Four main components are required to apply the Internet of Things. First, devices (terminals) and sensors are needed to collect necessary information from objects, send and receive information via the Internet, and provide services based on that information. Second, a network is needed to support the exchange of information between devices and other objects or people. Third, a platform is needed to support the manipulation of objects through control devices. Finally, security is needed to prevent communication distortion.
As you can see from the components of the Internet of Things, you can create endless services depending on what services you provide using the features of objects. These wide-ranging services can be divided into three main categories: personal IoT, industrial IoT, and public IoT. Personal IoT refers to user-centric services for personal safety and convenience. Examples include the smartband mentioned earlier and remote home monitoring services via smartphones. Industrial IoT connects various related industries through a network and supports inter-system integration to enable more efficient and strategic industries. For example, applying this technology to farm crops allows remote monitoring of crop conditions and provides more detailed information than direct human observation through sensors. This can increase production. Public IoT provides the convergence and integration of various information for public safety. Security CCTV is a representative example.
There are many reasons why the Internet of Things is attracting attention. First, it has a structure that makes it easy to start a business (startup). Looking at the components of the Internet of Things, the only thing that startup companies need to create is the device. Sensors, networks, security, and platforms will be developed and provided by other companies as the Internet of Things becomes more widespread. The key to starting a business will be to create the right device and the right services for it. Unlike other manufacturing industries, there are few barriers to entry, such as economies of scale and accumulated technology. Next, creating useful sensors, security, and platforms will also be a profitable business. In other words, as demand for IoT increases, various other industries will also develop. It is not simply a matter of creating new value-added services, but also the development of various fields that support them. This is similar to how the development of computers led to the development of semiconductors, and the invention of smartphones led to rapid advances in communication technology. Therefore, companies in various fields are paying attention to technologies that will grow alongside the development of the IoT. Finally, it is important to note that the IoT field has endless possibilities. If useful information can be processed through connections between objects, that in itself becomes a business idea. Unlike manufacturing, the IoT is not limited to a narrow range of industries, so if you have a unique product, you are unlikely to face fierce competition in your field. The absence of competition is a huge opportunity for companies.
In conclusion, the IoT will be at the center of the Fourth Industrial Revolution and will bring about revolutionary changes in various industries. We must carefully observe these changes and seize opportunities to become leaders in the industries of the future.
