Internet of Things (IoT) for Sustainable National Economy Development

Bamisaye Ayodeji James and Adebayo Adeola Abiola

The Internet of Things (IoT) is a nascent network of things that communicate between themselves and other internet enabled devices over the internet, it remotely monitors and controls the physical world. Having been an essential incorporation of Radio Frequency Identification (RFID), mobile, wireless and sensor devices, it has also given a challenging but commanding opportunity to configure the existing systems by making them intelligent. IoT will yield several benefits for various establishments, but as applicable to other technology adoptions, it may also introduce unpredicted risks thereby requiring significant organizational transformations. This paper presents major enabling technologies, key IoT applications domains, impact on business, economy, job skills, society and identifies research drifts and challenges encountered in turning IoT to a reality.

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