The Internet of Things (IoT) is the network of things (physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators) connected through internet which enables these things to exchange data. This creates opportunities for more direct integration of the physical world into computer-based systems, resulting in efficiency improvements, economic benefits, and reduced human exertions.

In simple terms we can say Internet of Things (IoT) is a system of things integrated with sensors, softwares, electronics which are connected to each other & can exchange data or Information with other connected devices.

The Sensors & devices can be like temperature sensor, motion sensor, camera, GPS etc. and to connect these devices each others there should be a medium like Internet ( WiFi), Bluetooth, satellite, Cellular etc. And last the data send between the devices need to be stored & analyzed like in cloud, data analytics software etc.

There can be optional user interface also be part of it in through which useful information can be viewed, monitored, alerts can be set etc.

The number of IoT devices increased 31% year-over-year to 8.4 billion in 2017 and it is estimated that there will be 30 billion devices by 2020

Connectivity or network is the crucial technology for IoT, there are several wired & wireless technologies available now

Short range wireless communication
Bluetooth, wireless, Radio frequency, Z-wave, Zigbee

Medium range wireless communication
LTE advanced, Halow

Long range wireless communication
Long range wireless, satellite

Wired
Ethernet, power line communication

The challenges on IoTis more related to security & data sources, different regions & governments have laws for data protection. How your IoT devices can embed the law & regulations when you make your IoT solutions.

According to the Business Insider Intelligence Survey conducted in the last quarter of 2014, 39% of the respondents said that security is the biggest concern in adopting Internet of things technology.

As IoT are growing, we are talking about more connected machines & the probability of cyber attacks are more.

Author's Bio: 

I am a freelance blogger on IoT and Project management topics.

IoT Technology Stack