The Internet of Things (IoT) is the network of physical objects or "things" embedded with electronics, software, sensors, and network connectivity, which enables these objects to collect and exchange data.
The first industrial revolution (1.0) was the mechanization of production using water and steam power. The second industrial revolution (2.0) then introduced mass production with the help of electric power, followed by the third industrial revolution (3.0) digital revolution and the use of electronics and IT to further automate production. Now Fourth industrial revolution (4.0)
The Internet of Things (IoT), also sometimes referred to as the Internet of Everything (IoE), consists of all the web-enabled devices that collect, send and act on data they acquire from their surrounding environments using embedded sensors, processors and communication hardware. These devices, often called "connected" or "smart" devices, can sometimes talk to other related devices, a process called machine-to-machine (M2M) communication, and act on the information they get from one another. Humans can interact with the gadgets to set them up, give them instructions or access the data, but the devices do most of the work on their own without human intervention. Their existence has been made possible by all the tiny mobile components that are available these days, as well as the always online nature of our home and business networks.
The Internet of Things (IoT) Lifecycle
COLLECTION: Devices and Sensors are collecting data everywhere like your home, your car, at your office, or in the manufacturing plant.
COMMUNICATION: Sending data and events through networks to some destination like a cloud platform, private data center, home network .
ANALYSIS: Creating information from the data like visualizing the data, building reports, or filtering data.
ACTION: Taking action based on the information and data like communicate with another machine, send a notification.
Watch the video to know what is Internet Of Things? How Internet Of Things Works?.