Over the years, we have been implementing M2M and IoT solutions. In this article, we go through the distinctions and the pros and cons of both communication technologies. First, let us take a look at definitions.
The Internet of Things has inevitably penetrated the healthcare industry, one that accounts for billions of smart devices — and their number keeps growing exponentially. Although the internet was adopted for healthcare equipment long ago, it is only in recent years that medical institutions have arrived at giving serious thought to IoT-connected devices. The statistics confirm an increasing role of the healthcare IoT: the Mind Commerce’s report predicts that it will reach $117 billion by 2020, with a 15.1% annual average growth rate.
As technology penetrates people’s lives more and more, the dependency people have on their devices grows exponentially. The great variety of appliances has already evolved into a young yet mature network that we now call the Internet of Things. It was Kevin Ashton, Procter & Gamble’s assistant brand manager, who coined the term in 1999 to describe the interaction of material things internally and with their environment.
The IoT platforms are suites of components that enable deployment of applications that monitor and control connected devices. They remotely collect data from connected devices to manage all of them in one system.
With several trillions of dollars up for grabs, competition in the IoT industry is steep and getting steeper every day. Big players are already knee-deep in the IoT; Cisco, IBM, GE, Google and Microsoft have launched their own IoT programs. In fact, Microsoft even released an IoT version of Windows 10 that is specifically built for developers working on IoT products. While much of the press-hype is focused on the consumer side of IoT (think Nest and Samsung’s Smart Appliance line) most analysts agree that substantial benefits will also be realized by industrial applications.