Abstract

AbstractThe paper aims at presenting Internet of Things in global business relating to sustainable development with the emphasis on its prospects and problems. Secondary data have been used in conducting the paper. Internet of Things presently is at an infancy stage with some devices which emerges with the revolutionary change in information and telecommunication systems that facilitate the growth of trade and multinational companies during globalization. At this juncture, cloud computing starts using as one of the important transformations of information technology, where computer along with Internet provides many facilities with a view to achieving goals of both companies and end users. Production systems starting from 3D printing and high-performance computing to the Internet of Things, and industrial robots are facilitated through cloud computing. During the study, it is clarified that IOT can be applied in many areas as wearables, health relating activities, traffic monitoring, fleet management, agriculture, hospitability, smart grid and energy saving, water supply, and maintenance management. The study also points out some limitations of using IOT in case of control and reliability, compatibility and contacts, and lock-ins. Despite the limitations of using IOT, it has emerged as a boon of human civilization at the age of globalization. With the passes of time, pattern of business and its management style is changing fast. For sustainable development of a country in particular and the world in general, learning and implementation of IOT may be considered to be an alternative technique in the world.KeywordsData analyticsRevolutionary change in information technologyIndustrial InternetGlobal businessSustainable development

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