Key Developments and Trends in the Internet of Things (IoT)
The Internet of Things has driven change across countless industries, facilitating Lights Out manufacturing, better home healthcare and patient monitoring, easier remote work, and much more. As the capabilities of IoT technology keep growing, so will the capabilities of the businesses who leverage it for growth.
The Internet-of-Things (IoT) continues its expansion across the economy, reshaping whole industries. Current trends are expected to continue, and some new trends will emerge. The IoT is likely to enter the healthcare industry and continue to expand in the remote work sphere. More IoT applications are expected to provide benefits through higher productivity and efficiency. This article considers the top 10 trends in IoT technology and its impact on the world.
More active penetration of IoT into the retail sector
E-commerce has been growing immensely, winning its market share in the retail industry. Due to globalization and technological developments, the retail industry has shifted dramatically from brick-and-mortar supermarkets and malls to online shopping or e-commerce. In the coming years, we are likely to see even more innovation in the sector sparked by the development of the IoT. Amazon is about to offer a model of fully integrated supermarkets. Automation of the spread of the IoT is expected to continue and even accelerate in the upcoming years.
More growth in remote working driven by the IoT
One key trend related to technology is the rise of remote working. An increasing number of companies shifted to remote work. However, productivity suffered due to the shift to remote working, and communication issues resurfaced. This is where the IoT comes in. Many companies already apply the technology, and the trend is not limited to tech companies. The IoT allows businesses to increase efficiency and productivity through more cooperation and better operations control because of increased automation.
The IoT and healthcare sector
Another trend associated with the IoT is its increasing influence on the healthcare sector. Last year the technological revolution expanded in the industry due to new and unprecedented challenges in the healthcare system. This is represented by increased automation in the sector. Next year we will likely see the continuation of the IoT spread into medicine. This may include more automated medical devices and innovative data management. Therefore, investment in the IoT in health care will likely substantially increase in the years ahead.
The rise of “smart building” technology in the construction industry
The construction industry is also likely to be affected by the IoT. In addition to 3D models, the IoT is expected to transform industrial operations and change safety standards. Next year we are more likely to see a shift in the industry toward more worker health and safety. The IoT is expected to help construction companies create a more protected environment without hurting financial results. New technologies will comply with strict work safety standards and will be cost-efficient at the same time.
IoT and the Smart City
The concept of “smart city” is getting more popular today. More and more cities have embarked on this idea and invested heavily in smart city projects. The concept is closely related to the IoT, which can be used to monitor traffic or public transport effectively. In addition, the IoT can handle sustainability, which is also part of the Smart City. The IoT can monitor and run electricity in homes to improve efficiency and accelerate the use of smart homes. Furthermore, the concept is in its early years of development. Even more progress will likely occur as more digital solutions will appear further to improve the IoT and the Smart City concept.
Edge computing and the IoT
Edge computing is another trend likely to happen in the coming years. The edge is also associated with the IoT and big data, specifically. The IoT will help accelerate the development of edge computing and its use in data management and cloud space. Edge computing will enable electronic devices to gather and analyze the data they possess instead of exchanging with clouds, thereby improving speed and reducing costs. The IoT is an integral part of the trend in edge computing.
IoT and the big data
Another trend to see is the rise of big data driven by innovations and the growing applicability of the IoT. The influence of the data has already increased massively over the last decade. This trend will likely continue and intensify in the coming years. In this case, the IoT is the engine of the data revolution that drives growth and expansion by powering new devices and facilitating big data gathering and data management.
More expansion across industries
The IoT emerged from smart homes and smartwatches, but its applicability is not limited to only electronic futures from the electronics industry. The IoT is likely to expand in other industries and bring more innovations. Furthermore, the macroeconomic instability in the aftermath of the pandemic and increased pressure on healthcare will bring more innovation to the industry. The same is true for other industries, as more competition will ignite the spread of the IoT across the economy.
The exponential expansion of “smart homes” that is driven by IoT
Millions of smart home devices are already, and this trend is expected to continue. The IoT is almost everywhere in the space. Whether it is Alexa, Nest, or any other device used in the smart home, it is driven by the IoT. Next year will probably bring even more speed and innovation to the sector.
The IoT and digitalization
The IoT is closely related to digitalization. Over the last decade, the digital economy has flourished spectacularly. This trend is expected to continue in the future. The IoT is almost a perfect solution for building digital twins. The trend for more digitalization will likely continue in engineering, construction, and architecture.
This article was written by Anna Clarke from ReadWrite and was legally licensed through the Industry Dive Content Marketplace. Please direct all licensing questions to legal@industrydive.com.
