The Internet of Things describes the convergence of machines, data and analytics. Also referred to as the fourth Industrial Revolution, and "Industry 4.0."
Last year, an estimated $698.6 billion dollars was spent by businesses on the Internet of Things. By 2019, this number is expected to reach upwards of $1.3 trillion. According to Cisco’s Trend Report, some connected devices exceeded the number of connected people in the year 2008. Currently, the number of connected devices stands at around 13.4 billion and is expected to reach somewhere between 30 and 50 billion by the year 2020.
The Safety Compass and the Internet of Things
There are essentially four different elements of the IoT process to achieve this status.
1. Implementation of “connectedness” capabilities
This is done by implanting sensors, processors, or any other technologies which allow data to be exchanged between the product and its environment. TSC can receive real-time data feeds from sensors and blue tooth enabled devices.
2. Cloud computing and platform systems
Cloud systems can store the flow of data and allow for the oversight. Information is available to all relevant persons. TSC is cloud based and provides real-time safety hazard updates and information.
3. Structure and analyse the collected data
This is a huge make-it-or-break-it point for an IoT platform since the technology serving this function needs to ensure all the data made available. Information gathered can be analysed, and TSC reports can be customised to the needs of individuals and different organisations
4. The Fourth Element: Augmented Reality (AR)
We believe that this is the key to realising the full potential of IoT. With AR, information is digitally attached to the physical world. Ultimately, the whole point of the IoT and the technology which goes into it is to data into information and useful and available to people at the time they require it. TSC has AR at the core of its functionality.