Gartner weighs in on the significance of the IoT for Utilities and the future of asset performance management in a new brief; Asset Performance Management: Actionable Insights that Produce Results Transforming the Bottom Line through Improved Decision Making
In the brief, Gartner defines the Internet of Things (IoT) as the network of dedicated physical objects (things) that contain embedded technology to sense or interact with their internal state or the external environment. The IoT is an ecosystem that includes things, communications, applications and data analysis.
While much of the hype around the IoT is centered on the consumer world, its potential impact is greater in the industrial world. Sensor variety is proliferating, and sensor costs are plummeting. For instance, Flir Systems has developed a low-cost thermal imaging camera for the iPhone called Flir One for capturing a thermal image of an object, as well as a night-vision camera called PathFindIR to help drivers detect and avoid hazards. And the cost of new microelectromechanical system (MEMS) sensors to detect movement, such as shifting from the vertical or vibration, has plummeted because of their wide-scale use in smartphones and cars. These and other IoT technologies are quickly finding themselves in a broad spectrum of industrial applications, including a number of Asset Performance Management applications for Utilities. To read the full brief, click here.