Internet Of Things Vision Analysis

INTRODUCTION
The Internet of Things represents a vision in which the Internet extends into the real world embracing everyday objects. Physical items are no longer disconnected from the virtual world, but can be controlled remotely and can act as physical access points to Internet services
Internet of things (IOT) is the internetworking of physical systems or devices which are also known as connected devices and smart devices. This systems could be vehicles, buildings etc. IOT are also known to be embedded with electronics, software, sensors, actuators and network connectivity which enables those mentioned objects to collect and exchange data. Also, IOT is a system of interrelated computing devices which includes mechanical and digital machines,
This development is opening up huge opportunities for both the economy and individuals. However, it also involves risks and undoubtedly represents an immense technical and social challenge. The Internet of Things vision is grounded in the belief that the steady advances in microelectronics, communications and information technology we have witnessed in recent years will continue into the foreseeable future. In fact – due to their diminishing size, constantly falling price and declining energy consumption – processors, Communications modules and other electronic components are being increasingly integrated into everyday objects today. “Smart” objects play a key role in the Internet of Things vision, since embedded communication and information technology would have the potential to revolutionize. The utility of these objects. Using sensors, they are able to perceive their context, and via built-in networking capabilities they would be able to communicate with each other, access Internet services and interact with
This might be a dynamic car insurance that makes your premium dependent not only on how far you drive (“pay as you drive”), but also on the individual risk. Speeding, dangerous overtaking and driving in hazardous conditions would then have a direct impact on the insurance costs. In general, we can expect the Internet of Things to give rise to increasing numbers of hybrid products that provide both, a conventional physical function and information services. If objects become access points for relevant services, products will be able to provide recommendations for use and maintenance instructions, supply warranty information or highlight complementary products. Furthermore, the digital added value of a company’s products can be used not only to differentiate them from physically similar competing products and tie customers to the company’s additional services and compatible follow-on products, but can also be used to protect against counterfeit products. Completely new opportunities would arise if products independently cooperated with other objects in their proximity. For example, a smart fridge might reduce its temperature when the smart electricity meter indicates that cheap power is available,