The future of the IoT industry holds a lot of promises, and we have the stats to prove this. According to the forecasts in the IDC reports, there will be 41.6 billion connected IoT devices, and 79.4 billion terabytes (equivalent to 79.4 zettabytes) of data will be generated by these devices or things.
This means that we can expect the CAGR of data generated by IoT to increase to an estimate of 28.7% by 2025.
In the next five years, a lot of innovative projects are bound to shake the industry, and the world at large. Therefore, we have compiled this list of the current and newly emerging IoT Trends for you to watch out for in the coming future.
Current IoT Trends To Know In 2020
The convergence of Big Data
One of the numerous advantages of IoT is that it does not only revolutionize our lifestyle pattern and business processes but also emphasizes on the generation of the massive volume of data.
In most cases, big data systems are often designed to support the needs of large-scale storage, in addition to investigative performance which is necessary in order to leverage the complete benefits of IoT.
Using Edge Computing to Execute Data Processing
The primary challenge of IoT is its addition of devices behind the network’s firewall. It may be simple to secure the devices; however, it takes a lot more to secure the IoT devices.
Therefore, for the good of the IoT, there is a need for data processing with the Edge Computing to be present with the Cloud.
Increased Consumer Adoption
In the coming decade, we will experience a massive shift in the trends of IoT, when the change occurs from the Consumer-oriented IoT, as in the case of the market mistakes of Lily Robotics.
The consumer-oriented IoT will see a reduction in its funding growth, and the industrial IoT (IIoT) infrastructure and innovations will dominate the future trends. The development of IoT platforms will help to tackle the challenges being faced in agriculture, transportation, insurance, or telecommunication.
Increase in the Demand for “Smart” Homes
Over the years, it has been observed that IoT applications have spiked with the concept of smart home innovations. This technology will definitely continue in order to make homes more interactive.
Therefore, we look forward to a future where the smart systems and technology will direct the occupants of the house on what to do; instead of the individuals directing the devices.
The Healthcare Sector Adopts IoT
Wearable devices are currently being utilized by the healthcare industry, as it appears that retailers are leveraging on the ability to interact with the customers. Thus, the industry will experience consistent but stable growth.
It is quite overwhelming to imagine that all our medical devices will be integrated with the Cloud and automatically saving the data for Intelligent Systems. No wonder the Healthcare sector greatly embraces the current IoT trends.
Using Auto-ML (Machine Learning) to Improve the Security of Data
In contemporary times, most developers are working on more effective ways through which people can utilize blockchain-related technologies to securely send and receive data.
Today, a lot of the industrial firms will grow to trust and adopt the forecast of the machine learning model. They will also revolutionize their operations for eliminating the downtime by model outputs.
IoT – Overwhelming Growth Forecasted
IoT devices tend to receive more information and data about users and devices, compared to the other aspect of technology. It has been forecasted that there would be an estimate of 31 billion IoT devices by 2020.
Thus, it is conspicuous that IoT devices are quintessential for tracking and reporting. In regard to the recent trends in IoT, it is safe to reveal that it will grow greatly.
IoT Security Using Blockchain
It’s only a matter of time before a plethora of consumer, industrial, government, financial and entrepreneur processes undergo a smart upgrade, self-healing, self-controlling, and decentralization.
In the nearest future, the Internet of Things will expand into so many sectors – including finance, banking, healthcare, politics, etc. – which most individuals today are unable to comprehend. It is IoT Trends like these that will bring about mind-blowing and innovative changes for us all.
Improved Data Analytics
The coming years will shock us with the most innovative IoT trends, which will be between the Internet of Things and the connected populace.
Presently, the most prominent event we look forward to is the time when the trends in IoT and the world are integrated with Artificial Intelligence in order to become a decision-making aid for both individuals and organizations alike.
The Future Where Smart Cities are Mainstream
Previously, we have observed that the states were increasingly releasing sensors and technologies in order to ensure the accessibility of data collection materials.
Soon, we are bound to experience the IoT trends where the innovation-inclined cities will make investments in promoting data exchanges that will enhance the combination and accessibility of the data between public and private institutions, inclusive of the citizens.
Blockchain Becomes an Efficient Back-end
Despite the fact that costs, security, availability, etc. are very key; there are still a plethora of technical challenges that are hindering IoT from them.
The blockchain is the most reliable solution here since it helps to decentralize the security difficulty of securely storing massive volumes of data in a single location.
Retail Experience becomes Personalized
The Internet of Things increases the efficiency of the retails supply chain management of today. The retailing shopping experience has become more convenient as a result of the implementation of smart beacon technologies such as sensors.
The aim of this IoT technology trend is to make sure that there is a higher integration of personalized retail experience, so as to herald the launch of a new shopping era.
IoT Boosting Up Predictive Maintenance
Very soon, we will live in an era where our homes can notify us of any electrical malfunctions, plumbing issues, and/or appliance faults so that we can proactively prevent impending home maintenance disasters.
Thanks to these IoT trends 2020, a number of functionalities from the sensors in cars, factories, and planes that are currently being used will soon enter our homes.
Cloud Computing: An Indispensable Factor in the Success of IoT
One of the most crucial security trends is definitely the subject of Data Protection. In diverse ways, it can be lethal to have a system that is already a connection to the internet. In fact, your personal data can easily be extracted through the use of spyware or violators.
However, with Cloud Computing, the functionalities of wearable devices, self-controlling cars, and smart homes will include the capacity to preserve track history of the thieves, hackers, etc. This is why Cloud Computing is therefore indispensable in building up the future of IoT.
SaaS Becomes the Order of the Day
Software as a Service has been regarded as one of the trending subjects for estimated markets when examining the IoT Trends. In addition to all of the other IoT Technology Trends, Software-as-a-service will better the lives of many individuals.
Awareness and Training for IoT Security
The sector is still in its development stage, and it must be explored with caution along with training. The training will entail the necessary awareness, like the differences between advantages and challenges, as well as other security factors.
Adequate training should be used in the promotion of transparency, the building of solid security, and incorporation of security across the IoT. It is pertinent to implement IoT security training and awareness before jumping into it.
Establishing a Coherent Framework for Integration
One of the challenges of IoT in its cooperation with other sectors is the absence of a unified IoT framework. There is a lack of a central shared system among the organizations.
All the aforementioned IoT Trends feature a unified framework since this is the best way to ensure that the sectors are secure.
Resources and Energy Management
The basis of energy management lies in the acquisition of a thorough understanding of energy consumption. By integrating the various trends in IoT into resource management, it becomes easier to better the lives of people.
Push notifications can be incorporated to send notifications to the connected devices when the energy threshold is exceeded. It is also innovative to add certain other features such as controlling sprinklers, indoor temperature management, and many more.
A Change in Voice Command: From Mobile Systems to IoT Ecosystems Management
Today, IoT discussions are progressing and responses to the evolving security environment are also moving forward.
People have become concerned about what the leading developers will do when their master’s cybersecurity strategy falls through. Hence, IoT Trends reliant on the mobile platforms will progress and transform into IoT Ecosystem management.
Maintain Awareness and Alliance: IoT Expanding Further
Currently, top business managers, development firms, and tech leaders are trying to flesh out the valid application of the IoT strategies. Now, it is expected of manufacturers to expand the number of IoT devices, and also make them more obtainable and comprehensible.
The transportation sector is one of the most crucial sectors, especially because so many other sectors are dependent on the transportation sector for their regular transactions. The transportation sector has a lot of gain in the IoT process of revolutionizing how computers transmit data without any human involvement.
It is possible to efficiently regulate the movement of goods and services from one point to the other. Thanks to IoT, we can now improve customer assistance to a great degree and also prevent delayed deliveries.
Monitoring Solar Power Plant
The government is placing more priority on renewable resources with the depletion of non-renewable energy. A good example is a solar energy. In order to generate electricity, solar plants are being erected in several locations.
However, this means that these plants must be properly monitored. As a result of the benefits of IoT-based solar power monitoring systems, it is no longer a big deal to control solar power plants.
Managing IoT Fleet
With the current momentum of IoT, we are anticipating a great surge in IoT-based managing and tracking of commercial automobiles. This means that organizations can now achieve accessibility to higher insights about driver behavior, as well as the health of their fleet too.
Statistical reports forecast that the world’s IoT fleet management market size is bound to achieve a CAGR of 21% during 2019 – 2025.
Following a couple of major setbacks, it has become very clear to us all that self-driving cars still need a lot of improvements. Regardless, this does not nullify the fact that this is an interesting concept.
In a couple of years (or even months, who knows?), companies like Ford and Tesla that have constantly been investing in this technology will launch something so great that it will redefine the limits of innovation.
Delivery via Small Cargo
There are a lot of innovative projects to consider here – from Udelv/Nuro vehicles for the transportation of domestic products, to urban delivery robots used by Starship and Amazon to deliver food on US college campuses.
Soon, a lot of such similar innovations will be introduced across the globe, transforming the delivery industry.
In all, there are so many other IoT trends that are making the lives of people better. Do you want IoT to transform your business or life experience? Then you should begin to invest in and/or learn more about IoT today! Remember, the future will revolve around IoT; and that future is now.