The term Internet of Things (IoT) has become increasingly familiar in recent years, as it is one of the pillars of the digital transformation and an essential part of the technological system of the Fourth Industrial Revolution, which is expected to have a growing impact on human life in the near future.
Undoubtedly, the Internet of Things is a revolutionary concept in our modern world, encompassing significant dimensions that reflect the level of reliance of human life on technology. The number of applications and programs that rely on it is expected to multiply, gradually entering into various aspects of our daily lives.
In a previous article on “Comprehensive Digital Transformation After COVID-19”, I mentioned the major upcoming transformations, including the Internet of Things. In this article, I will provide a more detailed overview of its concept, components, application areas, and the promising investment opportunities it offers.
The concept of “Internet of Things” began to emerge in 1999 when it was mentioned in a presentation by the co-founder of the Massachusetts Institute of Technology, Kevin Ashton, during his research in this field. The term then became widely recognized among research centers and companies. The IoT concept refers to a network through which a group of “things” communicates over the internet without human intervention, with diverse applications in all aspects of life. The IoT system includes various sensors that perform readings, measurements, or monitoring of indicators, which are then linked via the internet to intelligent processors that analyze the data from the indicators. Subsequently, necessary actions are taken through actuators, which may involve stopping a process, operating a specific machine, issuing a defined message, or any other task that contributes to increasing productivity, saving time, money and effort, and detecting problems early before they occur.
The world of the Internet of Things is a source of big data derived from various sensors within it. Data analytics are performed to obtain important results and decisions that can change strategies and operations in many institutions. According to reports and studies by the global company IDC published in 2019, it is expected that by 2025, the number of IoT Devices will reach 6.41 billion devices, producing 4.79 Zettabytes of big data. The report also explains that the Compound Annual Growth Rate (CAGR) for IoT devices is 9.28% until 2025. Additionally, the global company Gartner stated that the total revenue from the Internet of Things will amount to $389 billion worldwide, with revenues concentrated in three areas: North America with $120 billion, China with $91 billion, and Western Europe totaling $82 billion. These three regions are expected to control 75% of the total revenues of IoT Systems worldwide.
In addition to what has been presented, the Internet of Things is essential for digital transformation and building Smart Cities, supporting infrastructure in water and electricity facilities, smart waste management, smart parking, smart monitoring cameras, and smart environmental sensors to preserve the environment and monitor pollution levels. The IoT is also crucial in managing and controlling energy stations intelligently through Smart Grid.
It is worth mentioning that the Internet of Things technology is closely linked to many other digital technologies such as cloud computing for data storage and artificial intelligence, particularly in the utilization of machine learning for data analysis.
Large, in addition to its connection to Blockchain, which helps in addressing the challenges of Privacy and Security that the system may face.
During the crisis that the world experienced due to the coronavirus pandemic, IoT technology led to many success stories. A report by the global company Informa showed that Internet of Things technology played an increasing role in helping authorities prevent the further spread of COVID-19. It witnessed widespread usage in a variety of applications during the crisis, such as using data collected from over a million internet-connected thermometers in hospitals or public places to generate daily maps showing U.S. counties experiencing a rise in severe fever. This could serve as an early warning sign for new groups of patients, according to the World Health Organization. High fever is the most common symptom of COVID-19. In China, there is a success story that occurred at the field hospital in Wuhan, where patients and staff wore bracelets and rings connected to an artificial intelligence platform to provide continuous monitoring of vital signs, including temperature, heart rate, blood, and oxygen levels. Additionally, robots connected to 5G network provided food, beverages, and medications to patients, reducing the level of contact between healthcare workers and infected patients. Robots were also used to disinfect hospitals and other high-risk locations in China, Italy, and the United States.
On the other hand, the government of Hong Kong used wristbands for electronic tracking purposes to alert authorities when individuals did not comply with mandatory home quarantine. Finally, drones were used in China to transport supplies and deliver medical samples to and from COVID-19 hotspots, increasing transport speed by over 50% compared to land transportation. Drones were also used to spray disinfectant chemicals in some public areas and on vehicles moving between affected areas.
In conclusion, there are many promising uses for Internet of Things technologies at all levels and in all sectors. Undoubtedly, leveraging this technology requires a concerted effort from public institutions and private companies to benefit from it. This also requires providing the appropriate infrastructure, building capacities, and developing comprehensive and practical plans to leverage the technology across all sectors of life.
By Engineer: Belal Khalid Al-Hafnawi
Specialist in the Telecommunications, Information Technology, and Digital Transformation sector
