Top 7 predictions for IoT in 2020
The Internet of Things (IoT) is actively shaping both the industrial and consumer worlds. The Internet of Things has connected different facets of the enterprise in ways that were previously only imagined. Now companies and customers demand to see results and understand those results in real time or near-real time. Industry experts and market research companies like Gartner, IDC, Forbes, and ABI, etc. Predict that anything between 20 to 50 billion devices will be connected by 2020, and that investment in IoT systems and devices may be in the $250 billion+.
IoT trends are rapidly surfacing, here are the top 7 latest predictions for IoT that are going to rule in 2020:
1. More cities will become “smart”:
The year 2020 is going to see the emergence of smart cities. Smart city projects are already under way, and many U.S cities are using IoT devices to connect traffic lights, parking meters, and utilities. The concept of smart cities is going to spread all over the world. Smart city tech spending has jumped substantially and is expected to reach $80 billion by 2025. As the population is increasing, smart cities are going to be integral in boosting the quality of life and sustainability.
2. Adoption of IoT in Healthcare:
The health industry is going to see increased adoption of IoT devices. Frost and Sullivan say that the internet of medical things has the potential to grow at a compound annual growth rate of 26.2% and reach $72,000 million by 2021. From wearables to sensor-based health monitors, medical devices and portable pieces of equipment, IoT has transformed the healthcare sector. No doubt, the coming years would unfold greater aspects of IoT in the domain of healthcare.
3. Mandatory Regulation for Security:
The IoT tech market will see a renewed focus on security as complex safety challenges crop up. These complexities stem from the diverse and distributed nature of the technology. The network of connected devices remains vulnerable to attacks. So, how many devices are connected to the Internet 2019? The number of Internet-connected devices has breached the 26 billion mark. Device and IoT network hacking will become commonplace. It is up to network operators to stop intruders from doing their business.
The coming year is going to see an improved IoT security system. And this need arises from the complexities of the diverse nature of IoT technology.
4. Focal Shift to Industrial IoT:
IoT uses sensors, which can help managers identify machinery problems early on. Problems are identified before technicians are sent out to work on issues. Sensors are very handy for people handling preventive maintenance. IoT has been finding applications in smart factories. The use of wearables gives workers a clear picture of factory conditions and safety. Industrial IoT brings enhanced efficiency and productivity through data integration and analysis in a way that isn’t possible without an interconnected manufacturing process.
5. Increased Number of Self-driven Cars:
Several IoT experts predict that a greater number of cars will be connected to the internet by 2020, with inbuilt internet services that enable it to be driven automatically, as well as increase the car's functionality. We have seen that Google is already testing self-driven cars. You might not think of your car as an Internet of Things device. But new cars will increasingly analyze your data and connect with other IoT devices — including other high-tech vehicles on four wheels.
6. Data Collection Powered By AI:
We are well aware of the fact that IoT promotes connecting an array of devices which in turn share huge amounts of data. Artificial Intelligence applications are being used worldwide and have now became an emerging mobile app development trend for 2020. Establishing an intelligent and self-learning system should be the main goal behind IoT development. With the help of a machine learning system, organizations could interpret trends and insights from the data load and better the various areas that involve decision-making.
7. 5G Networks will continue to fuel IoT growth:
Major wireless carriers will continue to roll out 5G networks in 2020. 5G — fifth-generation cellular wireless — promises greater speed and the ability connect more smart devices at the same time. Faster networks mean the data accumulated by your smart devices will be gathered, analyzed and managed to a higher degree. That will fuel innovation at companies that make IoT devices and boost consumer demand for new products.
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