IoT stands for Internet of Things. The Internet of Things is the network of devices that contain electronics, software, and connectivity, allowing them to connect, interact and exchange data.
It has become much easier and cheaper to connect everything with the Internet via different methods. When we mention everything, we literally mean everything. It can be anything from furniture, walls, and machines with incorporated sensors, to many different kinds of technologies, which can transmit data to cloud platforms. Some popular consumer IoT products are Philips Hue, Google Home, Nest Thermostats, August Smart Lock, etc.
Many experts and companies, such as Gardner and McKinsey have high expectations that many more units will get connected in the years to come.
In Sensohive we believe that IoT gets really interesting when intelligent technology gets intertwined with real life problems, and is able to create value for users in their daily lives. This is when IoT goes from being an abstract term to actually creating solutions that matter.