IoT or the Internet of Things is already mainstream with more and more instances of its deployment coming to the fore. The expansive network of diverse physical objects embedded with software and sensors that effectively exchange and connect data with myriad devices is pretty much well understood and deployed across the board at homes and in a number of industries.
Talking about the latter everybody from digitally savvy individuals to startups and giant corporations are deploying IoT to obtain leverage over the competition. Let us look at the top trends that are expected to define the way that IoT will be deployed in the year ahead and beyond.
Blockchain technology is certainly the flavour of the times and is increasingly being used in the deployment and implementation of IoT. That is on account of the fact that it helps secure the data being transmitted between various devices. Blockchain technology is similar to IoT in that it involves distribution between various network nodes that gels in perfectly with the distributed nature of the IoT process.
Going forward one can see industries synergise IoT and AI applications to bring about an automation of processes and thereby reduce operating costs and idle time, even while helping enhance output. It will also help with predictive maintenance. Though in a nascent stage right now, this is expected to see an appreciable amount of growth going forward.
Even as industries shore up their cyber security capabilities, cyber criminals are growing increasingly sophisticated in their attempts to breach and infiltrate processes and systems deployed used by businesses in their day-to-day operations. That is where cybersecurity experts can join hands with IoT specialists to devise IoT enabled security strategies to provide the next level of cyber security to the digital assets of businesses and industries.
The ongoing pandemic has brought focus upon leveraging IoT to deliver better healthcare. This encompasses everything from home patient care and better access to medicines to more efficient medical transportation. IoT will be looked upon to make healthcare more patient centric as well as affordable.
More IoT Adoption on Account of 5G
The growth and spread of 5G access are expected to make IOT adoption much more widespread thanks to an enhancement of overall efficiencies. With the activation of fully functional 5G networks occurring worldwide one can look forward to more and more organizations and industries adopting IoT on account of the much-enhanced mobility, flexibility and security.
Interplay with Analytics and Machine Learning
IoT is expected to see an interplay with analytics and machine learning. IoT analytics possesses the ability to identify applications in IoT networks. Business leaders can accelerate and enhance data analysis with the help of integrated analytics obtained by all the data transferred along the IoT network. This ensures optimal performance as the networks are able to operate in a low latency environment.
Better Customer Service
The deployment of IoT will see vast improvement in the CRM systems used by businesses to connect with their customers. That will help customer engagement in an unprecedented manner enabling far greater customer retention and ultimately to a much better bottom line.
AR and VR
One can expect to see IoT combined with augmented reality (AR) and virtual reality (VR) to bring about a never-before synergy between the physical and the digital worlds. Doing that is expected to lead to economic advantages like lower costs and many more opportunities to enhance productivity and profit. The interplay of these technologies is expected to empower employees by enabling them to interact with virtual prototypes of products as well as equipment leading to the development of better business growth strategies.
IoT is the harbinger of smart technologies in everybody’s daily life on a scale that most people can scarcely begin to imagine. The fact that internet connected and enabled devices are now increasingly commonplace means that businesses across industries are taking to this technology to enhance their efficiency levels and obtain an edge over the competition. It is not, therefore, surprising that the total number of internet-connected smart devices is expected to touch a mind boggling 30.9 billion by 2025. Clearly, we can expect to see some exciting developments in the IoT space in the immediate to medium term future.