The global internet is a global network of protocol-based connected devices. The Internet of Things redefines these protocols, building a tighter network of IoT devices that can easily collect and share data even without interaction between humans or between humans and computers. Example: A smart watch is a well-functioning IoT system when it automatically reads heart rate and provides detailed analysis on a smartphone for medical purposes.
Smart devices supporting IoT technology are ubiquitous and widely used in people's work and lives. The IoT industry is witnessing continuous growth in market demands and innovations as sensor costs continue to decrease and manufacturers scale production, along with global internet connectivity and data analytics applications.
The Internet of Things has effectively reshaped the concept of home appliances through smart TVs, watches, music, lamps, clothes, curtains, etc. As the Industrial Internet of Things flourishes, so too does the imminent development of smart cities, which will reshape how people view the world around them.
The following analysis will shape the trends in the IoT technology landscape in the coming years:
1. The rise of 5G-Tech
The Internet of Things requires easy and seamless connections between devices, and the emergence of 5G technology will allow it to develop at an even faster pace. 5G technology will deliver greater capabilities at speeds up to 100 times faster than 4G technology. All of these advances will enhance the innovation and deployment of complex data collection and analysis systems near IoT users.
With the average internet connection speed reaching gigabytes (15- 20 Gbps) and the vast amount of bandwidth available to different devices, 5G technology will remove all current bandwidth limitations (at least until it reaches a certain scale).
2. Accelerate the development of the Industrial Internet of Things (IIoT).
The need for automation is ubiquitous, and the Industrial Internet of Things meets all of these needs well. The Industrial Internet of Things is mainly used to collect and analyze the data and work procedures required by various devices and systems and to automate their work. Initially, the role of this technology was limited to improving work efficiency and operational management in the manufacturing industry, mainly in the context of smart factories, enabling rationalization, automation, and applicable system maintenance in the manufacturing sector.
Going forward, the IoT is a $123 billion market for its industrial vertical alone. The technology is designed to help industries within the scope of workflow optimization, smart manufacturing and smart industries, asset performance management, industrial control, development of an on-demand service model, etc., and even applies to cross-industry scenarios. It will also improve the way it serves customers and create new revenue models. It has been actively promoting and helping to strengthen the digital transformation of the industry.
3. IoT in healthcare
The pandemic has changed a lot in today's world, especially people's perceptions and values of the healthcare industry. As contact between people becomes a source of infection and viral transmission, governments, healthcare authorities, industry, and patients are increasingly concerned about healthcare provision and related technologies.
IoT enables doctors to easily monitor patients and provide them with treatment options without waiting or traveling, thereby increasing efficiency and providing easy working methods. In the post-pandemic world, zero contact is now a safe way to get medical help. IoT is also making healthcare services affordable and accessible to all. It enables medical centers to operate more efficiently and patients to receive better treatment without incurring any additional costs. Its immediate benefits include:
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Real-time reporting and monitoring of patient conditions for timely action in emergencies.
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Automate patient care workflows.
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Better doctor-patient communication.
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Better, easier data analysis.
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IoT makes healthcare relatively affordable as costs of travel, infrastructure maintenance, and additional taxes are reduced.
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Continuously track the patient's physical parameters and issue timely alerts.
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Provide telemedicine assistance when necessary.
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IoT data can also be used in medical research.
IoT-connected devices such as smart watches, heartbeat and oxygen level monitors, blood pressure and glucose level meters, etc. are helping doctors provide real-time data on patients’ conditions, enabling easy monitoring and doctor-patient communication. This trend will pick up steam in the coming year as hospitals also use the technology to regularly track patients, staff, and equipment.
4. Innovation in smart home devices
Smart lamps and smart fans were once considered luxuries, and in the era to come, these luxuries will become necessities.
According to industry media reports, by 2026, the global smart home market is expected to reach US$622.59 billion, with a compound annual growth rate of 29.3%. As more and more people seek convenience in their living spaces, more and more smart home device products are being launched.
Smart TVs, smart devices like Alexa and Google Home, smart cars, smart heaters, smart air conditioners, and more will dominate technological innovation in the home. Smart refrigerators, for example, can alert you that bags of milk are low and order them from your local grocery store through Google Home or Alexa. Everything from data collection and analysis to communication to payments will be handled by smart technology.
5. The era of edge computing is coming.
In this day and age, data is king. Therefore, organizations need to protect and utilize data well to achieve better development in the future. Organizations are understanding this and are gravitating toward processing data at IoT edge computing facilities rather than directly in the cloud.
Edge computing is basically a node included in the topology of the IoT to ensure that data is first stored and fully analyzed for business needs before being migrated to cloud platforms. This node is usually close to the source or destination of the output data to ensure greater efficiency and availability.
With the explosive growth of the number of devices in the network, this trend will be taken seriously to ensure the seamless and faster-paced operability of each IoT-connected device.
6. Innovation in smart home devices
Smart lamps and smart fans were once considered luxuries, and in the era to come, these luxuries will become necessities.
According to industry media reports, by 2026, the global smart home market is expected to reach US$622.59 billion, with a compound annual growth rate of 29.3%. As more and more people seek convenience in their living spaces, more and more smart home device products are being launched.
Smart TVs, smart devices like Alexa and Google Home, smart cars, smart heaters, smart air conditioners, and more will dominate technological innovation in the home. Smart refrigerators, for example, can alert you that bags of milk are low and order them from your local grocery store through Google Home or Alexa. Everything from data collection and analysis to communication and payments will be handled by smart technology.
7. Self-driving cars are coming.
According to the latest reports, the California Department of Motor Vehicles (DMV) has granted Nuro the state's first self-driving vehicle commercial license, which allows Nuro to commercially operate its self-driving cars on the roads of two counties near its Bay Area headquarters.
This is the future of the global automotive market. The technology requires the development and deployment of a regulatory framework to enable autonomous vehicles to operate safely on the road. In fact, the British HORIBA MIRA company built an autonomous vehicle development center, ASSURED CAV, which aims to provide an overall environment for autonomous vehicles from concept to road testing. This technological development trend is bound to change the development of the global automotive industry.
8. Smart cities will continue to thrive.
A smart city is basically an urban space where government services are provided through smart technology. They also collect and analyze data pertaining to each citizen to ensure that the government has easy access to this data when needed. Examples of smart city technologies and projects have been implemented in Singapore, India, Dubai, Amsterdam, Barcelona, Madrid, Stockholm, Copenhagen, and New York.
In fact, some countries are using artificial intelligence technology to monitor the brains of children and teenagers and analyze their intelligence and thinking levels, so as to effectively measure learning efficiency and provide researchers with valid data to develop smarter algorithms to analyze human behavior and development. Other countries are working on developing crime monitoring systems that analyze user behavior data to predict crimes and provide early warnings before they actually happen. This trend will be a testimony to further innovations in the coming era.
9. "Smart farm" with IoT
The agriculture sector is using technology to monitor climate conditions in real time and analyze all other crop growth factors like soil health, moisture, irrigation, plant growth, etc. IoT enables monitoring and functionality of these aspects through mobile devices that can be controlled anytime, anywhere, transforming these labor-intensive projects into a technology-enhanced environment. Using drones to create artificial rainfall is how agriculture will be developed in the future.
Conclusion
IoT as a technology trend has crossed the nascent stage of user adaptation and acceptance. Several organizations are also developing approaches to smarter user devices and environments. These trends will change the lives of billions of people around the world.