Internet of Things

Content

Connecting the physical world with the virtual world

The industrial Internet of things is changing industry as we know it. It is the ever-increasing connecting of the real and virtual worlds, also known as “ ubiquitous computing ”. Everyday objects are turning into smart devices – sending and receiving data to and from the Internet automatically. And it is happening already now.

Experts predict that by 2020, over 50 billion technical devices will be linked to the World Wide Web, having a global effect on the economy, society and everyday life. New business models will arise, which is expected to affect all industries and generate upwards of 596 billion euros in the next five years.

 

An evolutionary process

Three industrial revolutions have brought epic changes to the world of business – steam engines, mass production, and Internet Technology (IT). And now we are experiencing the fourth with The Internet of Things (IoT). At Bosch, we want to utilize Internet of things technology to create a more enjoyable life for people everywhere, and new and better ways of doing business.

Machine to machine communication

The linking of machine-to-machine communication leads to fewer clicks, more automated processes, self monitoring and results in real time. In this context, companies will have to get used to the idea of operating in a virtual environment. Open web-based platforms will create the basis to extend or supplement their offering to the market, creating new opportunities. And new forms of cooperation will have these companies moving away from conventional ideas and divided into sectors. Business will change, but ultimately for the better.

“The value of Internet of Things applications can only be fully realized when analysis is delivered in real time – providing the ability to react and respond as processes are in-flight. These applications call for innovative software development methodologies and flexible data models,” said Dr. Rainer Kallenbach, CEO of Bosch Software Innovations