IoT has brought about a great change in our daily lives. Making each device connected to the internet has revolutionized the world of technology as well. With years of experience in the IoT industry, I’ve come up with the top IoT trends in 2020. You’ll want to watch out for them whenever you look for IoT solutions.
Big Data and BlockChain merges with IoT
Millions of devices are added to the IoT network yearly. These devices create a huge unprocessed data stream. It is increasingly necessary now to analyse this data.
This is where Big Data is stepping in where Data Scientists are now performing analysis on these huge amounts of data to detect patterns and trends. These trends and patterns help make the data generated by IoT devices useful.
BlockChain comes in at step three of this process. Previously, we extracted information but now we need to keep it safe. Blockchain is essentially a database that keeps the data we obtain from IoT devices securely. This growing trend of the merging of these three technologies provides a robust system for IoT devices.
Revolution of IoT through AI
The second in the revolution of IoT is Artificial Intelligence. It is expected that 80 percent of all enterprise IoT projects to include AI as a major component by 2022. AI will make the data received from IoT devices more meaningful.
It is expected that this trend will lead to earlier predictions of machine operations by up to 20 percent. AI and IoT are definitely going to be around for a long time and the merging of two has certainly got much appreciation from people everywhere.
5G Networks continue to Fuel IoT Growth
5G has been innovating industrial and daily life solutions since its launch in 2019. It is the key to making the world realize what the full potential of IoT is. With increasing inclusivity in IoT solutions it is one of the fasting growing IoT trends in 2020.
IoT devices in many cases are high-risk devices. Take self-driving cars, for example, even a delay as short as a second can cause life-threatening risks. Connectivity is the backbone of IoT.
5G will continue to provide connectivity to IoT devices. The emergence of 5G as the main provider for IoT devices will lead to fast market solutions that integrate IoT and 5G.
The introduction of IoT devices in the market has picked up pace in the last two years and continues to grow rapidly. With so many IoT devices being designed fragmentation is the main problem that IoT now faces.
As more devices are designed, their parts, the design they follow, everything down to the smallest detail is unique. With so many new options being introduced, it is difficult to figure out how to implement fragmentation solutions.
Businesses are struggling to get their IoT projects out of the development phase and into the deployment phase. Organizations like IEEE or the government need to set a standard for IoT devices. This will reduce fragmentation greatly.
The emergence of “Digital Twin” Energy
This might be the first time you’re hearing about Digital Twin energy. You might be aware of one of them. The problematic twin is the one we’ve all seen and heard of. The United States alone has a 9200-unit electric grid that needs to be managed efficiently. The provision and transmission of energy over large landscapes are very tough to manage manually. It leads to inefficiencies and in most cases equipment failure resulting in losses worth millions of dollars.
IoT helped us achieve the ‘not so troubled’ twin. It was one of the top strategy developments in 2019. Digital Twin is a cloud-based simulated model of a physical process, object, or service. Machine learning enhanced AI models are installed at power grids to automate the manual handling processes. This growing IoT trend is making way for better energy options in the US.
The introduction of IoT manufacturing systems has provided a boost to production and other manufacturing operations. It is estimated that by 2022, manufacturers will invest up to $45.3 Billion in IoT implementation.
Maintenance is a big part of manufacturing. IoT has enabled predictive maintenance for valuable machinery. Remote data collection IoT platforms are being used that wireless patch and update machinery in a timely manner. It is expected that by 2022 every business will have one IoT driven solution installed.
IoT Inventory management systems are also seen as a growing IoT trend. Operations like management of supply chain, asset tracking, and remote tracking will be automized. Consequently, the inclusion of IoT inventory systems will increase revenue.
More Secure IoT Solutions
Let’s be honest, IoT designs did not prioritize security. Nobody expected security to be a big problem with simple devices like refrigerators, etc. But as more risk associated devices were introduced security became a reason a big factor for designers.
IoT currently is at the stage of security where IT was 10 years ago. We still have a long way to go before our devices are completely secure. Initially companies were pushing products out the door in order to be competitive. Now, the design of security-oriented IoT systems is predicted. With devices estimated to grow to about 25 Billion this year, security is a concern that cannot be ignored.
IoT has definitely taken the market by a storm where people are looking to buy more and more smart everyday options to make their lives easier. Each year IoT changes for the better. While these are some of the trends that caught my eye, that’s are not all. Undoubtedly, whether you’re a small business owner or a big company IoT will make its way into your business sooner or later. The more open you are to the idea the more benefit it will bring to your business.