For IoT, 2020 has been a critical year, and as we reach 2021, technology is coming forward as a business imperative. Today, IoT is everywhere, impacting how we work, talk, and communicate with others. This endlessly roaring IoT volume would provide companies with more ways to exploit smart technologies. Essentially, IoT can help allow data sharing within the network as a tech-driven network of linked devices. The ability to allow communication between devices and equipment would affect lives and companies alike.
Here are a few IoT trends will impact industries around the globe in 2021
IoT certainly encourages digital transformation and the emergence of new business models and offerings. Connectivity is the IoT’s backbone since it is commonly used with soaring numbers of connected devices. Connectivity must be agile and nimble for new business models to meet network performance. It needs a wide variety of emerging IoT use cases, applications, and types of devices. Some possible network connectivity types for a sensor or device are cellular, satellite, Wi-Fi, Bluetooth, NFC, RFID, and LPWAN.
Augmented Role of Data Analytics
The capacity and relevance of the IoT depend significantly on data. It presents the data in an actionable and digestible way, making the technology most desirable to consumers. The data analysis of things that produce and process solutions will be complemented by leveraging data analytics. Data analytics will allow users to quickly pick up on patterns or trends within the data collected by their devices. Subsequently, the insight gained by data analysis ensures that a company is well equipped with the information required to make effective business product decisions quickly.
An IoT-enabled predictive maintenance solution can assist businesses in envisaging potential damage by gathering data from ultrasonic and vibration sensors. This is particularly crucial in the manufacturing space as manufacturers search for a competitive advantage to compete better. The IoT apps in manufacturing, logistics, warehousing, healthcare, and others are commonly used for predictive maintenance.
The IoT solutions provide individuals as well as organizations with valuable data and insights. It is vulnerable to cyberattacks, although its advantages are undeniable. For example, Kaspersky detected 105 million attacks on IoT endpoints alone in the first half of 2019. Although security remains a significant concern for IoT solutions, recent research shows that 90% of customers lack trust in IoT devices’ security. Therefore to ensure the integrity and confidentiality of IoT solutions and data while alleviating cybersecurity hazards, it has become crucial for those using this technology.
Evolving IoT Applications
IoT solution implementations and use cases are developing at a rapid pace. Their applications surround smart cities, wearables, smart grids, industrial environments, smart homes, etc. IoT will enter more markets and business settings with the growth and creation of this technology in the near years. It will lead the world to become more digital. Knowing these instances of IoT use would undoubtedly help companies incorporate IoT technologies into their future investment decisions.
IoT can boost the performance and productivity of the workforce. It is similar to disruptive innovations that are transforming consumer markets. It is no wonder that every organization’s workforce is the cornerstone of all its activities that ultimately produce revenue. But handling them can be a more difficult task than IoT solutions can accomplish. The same ecosystem of cloud computing and collaboration protocols is in utilization for workforce management and IoT systems. Integrating them will provide stability and enhanced organizational visibility and allow analytical methods to forecast reasonable steps reliably.
Often prone to security breaches, IoT devices make them an easy target for DDoS attacks. In that context, the most secure way to ensure data protection is the blockchain. It can help solve some of the problems of IoT security and scalability as a distributed ledger technology. Blockchain is an information game-changer that offers a way for a user group to record and exchange information.
Data Processing with Edge Computing
As IoT devices usually have minimal data capacity, intensified adoption of IoT solutions due to cost reduction requires enhanced data processing capability. These devices can achieve the greatest success with edge computing and result in cost-efficiency when processing data. Edge computing often allows data obtained by a computer to be directly processed on that device without being sent to other locations.
IoT is considered a strategic technology to realize the full potential of digital twins of physical products. IoT provides insight into the entire life cycle of the product unfolding deeper processor operational knowledge and optimizing maintenance. A digital twin is capable of improving IIoT applications. And shortly, it is likely to become a fundamental pillar for smart manufacturing.
The demand for Smart Home Will Rise
To make homes more social, IoT technologies have spread to smart home technology. And this will continue to increase the adoption of such technology. The smart home market’s primary enabler is the evolving need for customer comfort, safety, and security. Simply put, a smart home consists of a broad range of IoT, voice-first technology, AI, AR, and VR interconnected features and technologies.