2. WHAT IS IOT?
• The term “Internet of Things” has come of describe a number
of technologies and research disciplines that enable the
Internet to reach out into the real world of physical objects.
• The Internet of Things, also called The internet of objects,
refers to a wireless network between objects.
3. DISADVANTAGES Of IOT.
• SECURITY: As the IoT systems are interconnected and
communicate over networks. The system offers little
control despite any security measures, and it can be lead
the various kinds of network attack
• PRIVACY: Even without the active participation on the
user, the IoT system provides substantial personal data in
maximum detail.
4. HOW IS IOT RELATED TO ECONOMIC GROWTH?
• BUSINESS FACTORS:- It provide the resources and institutional foundations
for companies to innovate.
• TAKE-Of-FACTORS:- It help transform a technological advance into usable
applications, products and services.
• TRANSFER FACTORS:- It enable a technology to become deeply ingrained
in an economy by inducing wider changes in the behaviour of businesses,
consumers and society.
5. WHAT IS THE IMPACT OF IOT ON THE GDP?
• IOT significantly increases productivity: by as much
as 0.2% of GDP already, and growing. Over half of
these benefits are enjoyed by manufacturing
businesses, making it the sector currently with the
largest opportunity from using IoT.
6. WHICH SECTORS CAN WE USE IOT FOR
INCREASING ECONOMY GROWTH?
MANUFACTURING SECTORS
50% of the total global productivity impact is from the
manufacturing sectors, which themselves from a lager share of total
global economic output.
Manufacturing (including consumer electronics and automotive)has
a higher adoption rate than other sectors.