Critical Review on Internet of Things (IoT): Evolution and Components Perspectives

Abstract

Technological advancement in recent years has transformed the internet to a network where everything is linked, and everyday objects can be recognised and controlled. This interconnection is popularly termed as the Internet of Things (IoT). Although, IoT remains popular in academic literature, limited studies have focused on its evolution, components, and implications for industries. Hence, the focus of this book chapter is to explore these dimensions, and their implications for industries. The study adopted the critical review method, to address these gaps in the IoT literature for service and manufacturing industries. Furthermore, the relevance for IoT for service and manufacturing industries were also discussed. While the impact of IoT in the next five years is expected to be high by industry practitioners, experts consider the current degree of its implementation across industry to be on the average. This critical review contributes theoretically to the literature on IoT. In effect, the intense implementation of the IoT, IIoT and IoS will go a long way in ensuring improvements in various industries that would in the long run positively impact the general livelihood of people as well as the way of doing things. Practical implications and suggestions for future studies have been discussed.