Considering the speed at which IoT has made its place in our lives, would we move past home connected home appliances and home assistance?
IoT trends are rapidly surfacing, here are the top 10 latest predictions for IoT that are going to rule in 2020:
1. IoT security is going to be a priority
Due to the widespread adoption of IoT, the number of connected devices is increasing. This leads the network to expand, the data to increase, and places more information at risk. The increased use of IoT is going to be teamed up by improved IoT security. Home security and patient health are at risk as the majority of the data are secured in the cloud that calls for increased focus on IoT security.
The coming year is going to see an improved IoT security system. And this need arises from the complexities of the diverse nature of IoT technology. The number of IoT devices has crossed 26 billion and is expected to increase. Hacking of IoT networks and devices is going to become common in the future, so we are going to see measures implemented for its control.
2. The Rise of Smart Cities
The year 2020 is going to see the emergence of smart cities. Smart city projects are already underway, and many U.S cities are using IoT devices to connect traffic lights, parking meters, and utilities. The concept of smart cities is going to spread all over the world.
Smart cities are going to focus on comfortable living while improving the financial, environmental, and social aspects of urban living. Smart city tech spending has jumped substantially and is expected to reach $80 billion by 2050. As the population is increasing, smart cities are going to be integral in boosting the quality of life and sustainability.
3. AI and Data Collection
Experts predict the implementation of SI to transform IoT connected devices into decision-making assistant for both individuals and organizations. As IoT comprises billions of cloud-connected devices, each of them plays the role of a data collector that assists them in filling the database.
If all the connected devices are collecting data, it is a massive amount that needs to be put to good use and make better decisions. AI could be a massive help in this as the huge amount of data is enough to train the AI system.
Establishing an intelligent and self-learning system should be the main goal behind IoT development. With the help of a machine learning system, organizations could interpret trends and insights from the data load and better the various areas that involve decision-making.
4. Adoption of IoT in Healthcare
The health industry is going to see increased adoption of IoT devices. Frost and Sullivan say that the internet of medical things has the potential to grow at a compound annual growth rate of 26.2% and reach $72,000 million by 2021.
Portable devices, medical equipment, and sensors, along with health monitors, and other variety of medical devices are shaped to connect with IoT. Also, virtual assistants and mobile health applications allow health professionals and families to monitor the patient’s health at home. There are intelligent wearables and implants, which communicate the patient parameters and even smart cars that observe the vital signs of the patients when they are traveling. There are safe tracking apps, including Xnspy that allow families to keep track of their loved ones.
5. Increased IoT in Manufacturing
Thanks to IoT, managers could get help from the machinery problems right from the start with the assistance of sensors. Sensors come in handy for the people who are responsible for handling preventive maintenance. This way, problems can be identified before sending the technicians to find the issue.
IoT has found its way in smart factories. IoT and wearables connect the factory floor to management, and the workers have a clear perspective of the factory conditions and safety. It also helps in boosting time management and safety. Managers can monitor employee productivity and movement using Xnspy that logs in their digital activity.
6. Merging with Big Data
Even though IoT and Big Data are different concepts, they are connected. The amount of data that requires processing and analysis would grow significantly with billions of consumer and industrial IoT connected devices. The aim is to take out as much information from the collected data that can be processed.
The processing of such large amounts of data requires big data and artificial engineering methods. Both of these industries have grown exceptionally well in the last couple of years. Merging both AI, IoT, and Big Data would result in an innovative range of general applications and advancements. When companies would merge these and use them together, day-to-day processes are going to become a breeze.
7. Establishing Smart Stores
Smart stores are powered by radio frequency identification tags. Inventory management becomes simple and fun with RFID. You can also know how much time visitors spend on your store with IoT. It records the customer movement and their product interactions using smart lighting. With the help of these systems, you can collect data and use it to improve the store inventory and make adjustments to the product display according to customers’ liking.
8. Industries would see more of IoT
Experts predict that in the coming few years, consumers-targeted IoT is going to suffer a blow and lead to a decrease in funding growth. Companies would depend more on industrial IoT applications to design new infrastructure.
In the coming year, you can expect to see the agriculture, health, insurance, telecommunication, and transportation industries integrating IoT in their new techniques and strategies.
9. Decentralization Efforts Using Blockchain
Blockchain is cryptographically safe as it logs a divided ledger system that lets data transfer between two parties.
The traditional system using IoT has a centralized structure and using analytics, information is sent from the device to the cloud, and then back to the device. Most of the IoT gadgets run on a centralized network. As we are going to see billions of devices jumping on the IoT bandwagon, users can be vulnerable to cyber threats as the present state does not ensure flexibility. There is a threat of potential weaknesses to get exposed through a centralized architecture.
With trust and security being an integral issue, Blockchain is essential to safeguard data. Smart contracts allow IoT connected devices to operate safely through Blockchain. This can only be completed after meeting certain requirements.
10. Increased number of appliances on the IoT than People
By 2020, there are going to be 20.4 billion IoT devices. IoT devices have already become immensely popular and are being used to manage everything from setting appointments to managing energy consumption and home security. If we were to count every device that incorporates or would integrate with IoT in one way or the other, we can expect to have 50 billion devices by 2020.
The maturity phase of IoT has just begun, and it is soon to become a full-blown business in the coming years. You should know that IoT development isn’t something that can happen overnight. We are shy of a few months from 2020, and we should brace ourselves as to how we can adopt this technology in the best way possible.
IoT is developing at a fast pace, and we cannot underestimate the developments underway for next year. No matter if you are running a small business or a 700 employee company, IoT is going to find its way into your business. So, be prepared!