The Internet of Things (IoT) is an essential element of digitalisation. Networking creates opportunities for machine control and optimisation of the physical living environment. The conceivable applications range from wearables and smart homes to smart cities.
Closely related to the term IoT is that of Industry 4.0, the digitalisation and networking of production facilities and processes (“smart factories”), of components and products along value chains (“smart products”) and the digital optimisation of services (“smart services“).
