What is Internet of Things?
The Internet of Things (IoT) is the network of physical objects connected electronically with each other. The physical objects such as buildings,devices,vehicles and other items are embedded with electronics (like electonic chip,magnetic strip,Integrated circuits etc.) along with software systems, sensons, and network connectivity (Internet). Thus the IoT allows the physical objects to be sensed and controlled remotely.
This allows increased interaction between physical world and computer/software based systems (or virtual world) and thus offer cost-effective and time-saving technique for a host of services ranging from complex works to day to day errands. IoT is the technology which will push technologies such as smart grids, smart homes, intelligent transportation and smart cities.
The best part of IoT is that it is not future technology. It exist even today and growing each day. Experts estimate that the IoT will consist of almost 50 billion objects by 2020.It may be the technology which will usher in digital age and 4th Industrial Revolution in the history of humanity's scientific progress.
The term IoT was coined by British entrepreneur in 1999 referring to a global network of objects connected to radio-frequency identification, or RFID. ( RFID could be understood as wireless id or address of objects connected to IoT).
The IoT may usher in automation in almost all fields and will help a lot in economic, scientific and intelectual advancement of people and countries in the coming future.