The Internet of Things (IoT) continues to put the world on a new edge. IoT develops enormous possibilities across various industries. In 2024 and further, 6 top IoT trends are set to transform how we live, work, and interact with technology. In this article, we’ll discover these trends and highlight the pivotal role of Artificial Intelligence and IoT development services.
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1. AIoT- IoT with AI models
A mix of Artificial intelligence and IoT, also known as AIoT. They give unbelievable insights regarding the combination of AI and IoT services. It gives vital data to train the AI system. An analysis shows that IoT devices will create almost 73.1 ZB of data. That’s nearly 4 times more than what was generated in 2019.
With all this data, the use of AI and machine learning will be compelling. For example, Voice AI and Vision AI at scale are not feasible without the help of the IoT.
Approximately 74% of consumers between the 18-24 age group report using a mobile phone voice assistant in their home.
Big retail companies like Walmart, and Amazon are leveraging IoT to manage inventory stock and create supply chains more efficiently. Walmart maintains about 1.5 billion messages from IoT devices every day. They use this data to manage key tasks, like anticipating in-store maintenance needs. In 2016, FedEx started implementing IoT sensors on their delivery vehicles. FedEx is now able to leverage the tech giant’s AI capabilities to place the data it gathers into use after it collaborates with Microsoft on technology. And Microsoft can train its algorithms on a database that would be impossible to gather without IoT.
2. IoT Platforms Look To Improve Functionality
IoT data and analysis is a little complex, So helping new or growing businesses with IoT applications is a must. For example, we can use IOT market growth Statistics data expenditure on IoT software grew by more than 24% in 2021. While actual hardware expenditure grew by around 5%.
Due to this upcoming trend, many software ecosystems are preparing for the implementation or integration of IoT-enabled software. Many companies deal with IoT devices created and maintained by many vendors. Multiple ways are expected to connect IoT with these software solutions. Containerized applications are one of the solutions. Containers are a way to virtualize a complete software ecosystem.
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In specific, controllers allow developers to observe and get to know different operating systems that are working collectively inside an organization. This makes them mandatory for large-scale IoT. Blynk is a containerization-enabled platform. The company provides no-code software. It permits businesses to build APIs to manage and interact with connected devices they use. Nowadays, all sorts of companies are creating business-based IoT Apps for effective use. The company’s We-Connect app is a way to control Car usage by monitoring and controlling IoT devices.
3. IoT Connects Healthcare To Patient Needs
COVID-19 lockdowns transforming the way healthcare is delivered in the US. Before 2020, there were around 36 million measured virtual health visits a year. This number quickly rose after the beginning of COVID-19. Some experts estimate around 1 billion telehealth visits in 2020. This was during and after the Pandemic. We may use IOT market growth Statistics data as a solid reference.
Today, 84% of physicians say they provide some kind of telehealth offering for patients. The industry, which is the Internet of Medical Things (IoMT), is expected to be worth over $350 billion by 2027. The total market is quite large. The IoT scalability is from connecting many IoT devices with sensors along with systems like bed management software. As an example, monitoring elderly patients remotely is also feasible and is an area for improvement. It may prevent efforts and energy in the movement going to the doctor’s office. The growth is highest in the 5-year range of 2015 to 2020 and also gets high afterward.
- Industry 4.0 (The 4th version of the Industrial Revolution)
This is a term that recommends vast developments in manufacturing and industry with scalable automation and drastically improved efficiency. IoT is the heart of this concept. It has the large volume of data collection and monitoring required to boost industrial capacity(performance by enhanced capability) would be impossible. There are 4 components of Industry 4.0 (IoT, AI, cloud infrastructure, and big data/analytics).
As per statistical reports, 72% of the Industries have been familiar with the importance and implementational benefits of IoT. Data gathering and Work monitoring are the core elements of the Industry 4.0 base. Industry 4.0 is not necessarily any industry-specific.
5. Cybersecurity & Data Privacy
IoT could be inherent to the country’s infrastructure or the health of its people. IoT is also subject to several cybersecurity threats. The cybersecurity threat is really devastating as it is directly related to the connected devices, which are not only equipped with high security, personalized data of patients but also contain image processing equipment, carrying many important images and data related to them that go on stake of virus and fully damage possibility.
- IoT – The critical role in the Global Supply Chain
With IoT, the global supply chain has been transformed with many IoT-enabled operations and efficiency. One can track the consignment, and monitor the delivery online with IoT. The delivery cycle has improved a lot. IoT has also come up with Storage management and planning from dispatch to delivery, via intercompatibility of interconnected IoT devices.
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End Summary
As discussed above, these are the top 6 trends of IoT to watch for the upcoming year i.e. 2024. IoT has changed the market across industries to a large extent. Every industry is seeking to take the ultimate benefits of the IoT revolution with Automation. Several complex processes and procedures have been simplified with IoT and AIoT. Every day the benefits and features are added to the popularity of this platform.
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Abhishek Bhosale
COO, Internet Soft
Abhishek is a dynamic Chief Operations Officer with a proven track record of optimizing business processes and driving operational excellence. With a passion for strategic planning and a keen eye for efficiency, Abhishek has successfully led teams to deliver exceptional results in AI, ML, core Banking and Blockchain projects. His expertise lies in streamlining operations and fostering innovation for sustainable growth
