What is IoT?

Wikipedia defines the Internet of Things (IoT) as the network of physical objects — “things” — that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the Internet.

At Team MADS, we follow a simpler definition.

Internet of Things = Interconnected assets to benefit humans
Simple definition of IoT

There were over 30 billion active IoT devices globally in 2020, and by 2025 this number is expected to grow by more than 2.5x and hit to over 75 billion. By 2025, the total addressable market of IoT will grow over a trillion dollars, making it the most valued disruptive technology.

IoT is creating new applications and business opportunities in different industries. But the MADS platform is industry agnostic and can be used to build any enterprise IoT applications using its building blocks (apps). The following illustration fairly describes a non-exhaustive span of IoT applications areas that MADS can support.

IoT application areas Source: Libellium. Enlarge

With the rapid adoption of IoT in multiple verticals, it is increasingly becoming a part of our everyday life. Some estimates project that Enterprise IoT is going to be the biggest segment among all connected devices in the next five years. The IoT data explosion is massive – IoT is generating more data than anything ever before, in the order of zettabytes. The next decade will be the decade of IoT and associated technologies – AI, Big Data, Blockchain.

Global connected devices and IoT data explosion Hidden in this data are huge business opportunities

Enterprise IoT vs Consumer IoT

MADS is targetted towards Enterprise IoT (aka. Industrial IoT).

IoT category Source: Pioneer Service. Enlarge

Example of Enterprise IoT Projects

  1. Smart Agriculture System
  2. Weather Reporting System
  3. Home Automation System
  4. Predictive Maintenance System
  5. Smart Garage Door
  6. Smart Energy Monitoring
  7. Air Pollution Monitoring System
  8. Smart Parking System
  9. Smart Traffic Management System
  10. Smart Cradle System
  11. Smart Gas Leakage Detector Bot
  12. Streetlight Monitoring System
  13. Smart Anti-Theft System
  14. Liquid Level Monitoring System
  15. Energy Storage Monitoring System
  16. Health Monitoring System
  17. Smart Irrigation System
  18. Flood Detection System
  19. Mining Worker Safety Helmet
  20. Smart Energy Grid