The Internet of things (IoT) is expanding and as it grows the need for a workforce that can create and facilitate the implementation of new technologies will increase. According to a report by Bureau of Labour Statistics, employment will increase by 27% by 2024. The telecom secretary Aruna Sundararajan, recently said that with the technology developing it is estimated, that India can have 10-15 million new jobs created in IoT alone.
Every device from phones, watches, cooker, stove, TVs, watches, etc. is connected to IoT. With the help of IoT, receiving and sending data has become easier and faster. The sensors in these devices enable the transfer of data. IoT has applications across sectors ranging from agriculture and healthcare to education.
With the help of IoT, experts have created solutions in diagnostics, sports wearable, and water managements -the areas which were traditionally problematic. The IoT space is booming in India with about 65% of Indian start-ups working on it. The government is looking at ways to lay out regulations for machine-to-machine (M2M) communications.
Advantages of IoT in businesses:
- Greater productivity and efficiency
- Process improvements
- Reduce mismatch of skills while increased productivity
- Efficient processes
- Increase in business opportunities
- Cost saving
- Improved safety and security
Sources: Economic Times