The Internet of Things (IoT) is the network of physical objects or “things” embedded with electronics, software, sensors, and network connectivity. With this, we are able to collect and exchange data between objects.
The collection of this data can be extracted and used to improve our efficiency and the bottom line.
These “things” talk to one another. They collect data and insights, and can even give recommendations on the best way to use these “things” in real time.
The Internet of Things (IoT) is taking shape. Pacific Rim Tech helps connect things to the cloud. The key to being successful is taking this technology and using it to move toward new business models and services that will help realize them.
Pacific Rim Tech helps make all the information gathered easily understandable and valuable. This allows the customer to use the information and create a Return On Investment (ROI). We work to alleviate the stress of information overload by gathering the essential materials the customer is looking for to gain industry insight and expansion.
Things that you use on a daily basis are already IoT endpoints. For example, your car is even an IoT endpoint, with all its smart technology.
From a business perspective, the challenge of IoT is how we can manage and secure these endpoints, as they become living. We have seen numerous gadgets and devices connect to the Internet and advise your smartphone about information.
IoT of Tomorrow
The smartphone is the greatest technological wonder of our time. It has allowed endless possibilities with continuous growth. 2020 will be the year technology interacts directly with humans.
We know that technology has the profound potential to enhance our experience of the world around us, rather than distract us from it. – Yves Behar, Founder, Fuseproject
Predictions about IoT
- Some predict that by 2020, the number of Internet-connected things will reach or even exceed 50 billion.
- By 2020, a quarter of a billion vehicles will be connected to the Internet, giving us completely new possibilities for in-vehicle services and automated driving
- Today, the market for Radio Frequency Identification (RFID) tags, used for transmitting data to identify and track objects, is worth $11.1 billion. This is predicted to rise to $21.9 billion in 2020 Tech Talk