More than 50% of energy we produce is wasted due to unchecked inefficiencies buried within a process. Internet of things offers network connectivity and processing power to electronic devices which can reduce energy consumption and limit wastage by generating automatic alerts, and controlling field operations.By using smart sensors and software applications, IOT devices can connect people and things over the internet. Data is collected, exchanged, recorded, and analysed to improve efficiency, accuracy and productivity of a process with minimal human intervention.

It is estimated that by 2020, IOT network will consist of as much as 50 billion devices.