IoT is an abbreviation for the Internet of Things.
The IoT is the continuously expanding network of devices that share the same IP address to interconnect. It is the communication of this devices and their cooperation with other devises or system of devices through the Internet.
The IoT brings Internet connection to absolutely another level, making PC, tablet, laptops and other everyday devices a conjoined system that automatically works together to increase your comfort and save your time. It uses shared embedded technology to send, receive, process and analyze information with some external environment (like cloud services) using Internet connection.
The examples of the IoT are mostly electronic devices that can be connected and track certain data like: thermostats, security devices, cameras, alarms, cars, screens, light bulbs in household or business buildings or even in the city infrastructure, different type of machines (coffee machine, vending machine etc), voice systems and many more. As a good example of IoT development - VEProf developed many IoT devices for home automation and businesses usage. Businesses can use IoT to bring security to a brand new level. For example advanced sensors will be able to send notifications when the object should be changed, like if there is a high possibility of drain breakthrough, preventing dangerous situations.
Nowadays the amount of devices that can connect to the Internet is about 12 billion devices. There was a research done in IDC stating that by 2020 we will have connected devices exceed the amount of people in 26 times. Gartner reports that applications will help to run and set these devices, and big companies will receive enormous income and save additional costs from the adoption of the IoT technology. It is expected that in 2020 the installation and adoption of the IoT will significantly increase.