What is Internet of Things and how it helping Digital World
IoT or Internet of Things is the LATEST NEWS word these days. Do you have any idea what it means? In simple words, it refers to a virtual internet connection from things, people, and almost everything you see around. Everything in our surrounding environment is allowed to communicate with each other without any human intervention.
India is on the tip of innovation and is going all guns blazing to digitize the citizen-centric services. One of the greatest challenges testing this collective vision will be to prudently channelize gains, to refine the standard of living of the poorest of poor. We just need to put a series of interconnected devices exchanging information with one another into any digital channel, and the benefits of urban amenities will become accessible to all citizens. This is precisely the purpose which the concept of the Internet of Things (IoT) serves.
KPMG, an auditing and consulting company, has created last year a media and entertainment industry (M&E) 11th edition report. The report, launched with the title 'India's Digital Future: Mass of Niches', predicts growth in the digital media sector in the country by the year 2030. The report covers the industry's performance in various segments as well as key themes and elements that play a key role in growth.
According to the report, the country's TV and ENGLISH NEWSPAPER media and entertainment industry has witnessed 13 percent growth during the financial year 2019 (FY19) and has reached Rs 1,63,100 crore with a CAGR of 11.5 percent over the year 2015.
The report says that digital has increased continuously when we look at all segments of the media and entertainment industry. Digital advertising and gaming have gained momentum with the disruption of TV and print. The digital world is emerging as the second-largest segment in the country after TV and is also attracting a large number of advertisers. There are two major reasons behind the speed of digital in the country. One is the decrease in internet data prices with the increasing number of smartphones, Second, digital content is also being supplied, i.e. investment in original and regional digital content is also increasing.
Rural India can benefit from the trickle-down effects of the country's thriving digital economy through the smart connectivity of devices. IoT can penetrate our cottage Industry, and open gates for the local or traditional products by linking them to our e-commerce industry. IoT holds immense relevance for our rural ecosystem that is gaining strength from flagship schemes like Jan Dhan Yojana which attempts to push the boundaries of financial inclusion by making the basic banking services tangible for the poorest of poor. Opening a bank account is one thing but to make a remotely located individual access that account without any locomotion hassles is something that IoT can achieve with ease. Banks are now paving way for business correspondents who travel to the remotest of areas to let people avail of the basic banking services through smart devices such as mobile ATMs or card readers. These devices are seamlessly connected to the back offices of banks. IoT focusses on a smart interpersonal communication to avail urbane amenities over a vast network of connected things, from the comfort of home. This makes it a potential deterrent for the rural to urban migration that is flooding the urban milieu with ill-functioning slums.
IoT is bound to revolutionize our obsolete farming methods by facilitating a network of smart devices to gather real-time INDIA NEWS information on weather, the pH level of soil, and fluctuating market price of a specific crop. This information can then be sent to mobile phones via cloud technology.
IoT has the potential of ushering in an era of impeccable energy management by making way for smarter grids to cut down our transmission and distribution losses. Such losses account for nearly 23 percent of the electricity generated. IoT can enable a network of carbon-emitting devices that can be accessed from a remote location so that users can turn off or turn on such devices at will. Such devices can inform users about the technical faults with electric circuits through real-time alerts, and also throw light on their energy consumption patterns.
IoT is playing a crucial role in the resurrection of our ruptured healthcare sector which is dented with overcrowded hospitals. Through a telecommunication infrastructure, a thorough diagnosis can be done by a specialist from a remote location and medication can be prescribed based on the medical data recorded by smart devices.
With the Government of India to be really optimistic about the Digital India program, IOT which will definitely be a valuable cog in the wheel of the digital infrastructure of the country. It will take great effort to make a variety of digital channels developed infrastructure is accessible to the large population.
