What, exactly, is the IoT? And how does it relate to building energy management?
The IoT is the concept of connecting any device with an on/off switch to the Internet and/or to each other. IoT uses one common Internet Protocol (IP) to connect devices, which include everything from smartphones, tablets and digital assistants to various types of sensors and systems such as HVAC, lighting, and security.
In other words, the IoT is a fast-expanding digital ecosystem of connected devices. In 2015, there were about 10 billion connected devices; by 2020, that number will more than triple to 34 billion. This growth is not surprising given the current environment where broadband Internet is widely available, technology costs are decreasing, smartphone use is becoming ubiquitous, and more and more devices are designed with built-in sensors and Wi-Fi capabilities.
GS Technologies Ltd (LON:GST), through its subsidiary, EMS Wiring Systems Pte. Ltd,provides services in the “Smart Building” sector. Smart Building is a diverse term that refers to the technological capabilities of buildings and other work place facilities.