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The Internet is the Blue Whale engulfing anything and everything it comes across in its path. Today, not only computers, laptops, and smartphones, but any mere digital device like a mirror, refrigerator, vault, or microwave is also under the spell of the internet. Who knows what this greedy Whale is preying up next!
Imagine a situation. You are at a café with a friend, whom you have met after ages. You are engulfed in the conversation, and considering your food preference, you have asked the waiter to serve the ordered items one-at-a-time. On the other hand, you don’t like a waiter hovering around your table. Then, how come the waiter will get to know when to serve the next ordered dish without your instruction?
With incredibly smart vessels, your empty glass or plate will update to the waiter, on your behalf, without your manual instruction.
This scenario might be new now, but soon, we all will be accustomed to such smart IoT devices.
Emerging IoT Trends That Will Soon Become the Mainstream
As per the results of a recent study conducted by Juniper Research, the implementation of 5G in 2020 will resume the SmartCity project with more than 38 billion IoT devices around the world. Governments are investing more reliably and massively on IoT technology. In 2020, IoT will generate $344 Billion revenue and will reduce the cost upto $177 Billion.
Thanks to the Internet of Things smart devices as edge computing is emerging over cloud computing. Industries and Individuals are probably adopting Edge, owing to the tremendous benefits it retains.
The year 2020 is awaiting such significant transitions that have taken existence because of IoT. Some of them are :
Top 08 IoT market trends to look out for in 2020
I am writing this blog as an in-detail guideline, where we will discuss every aspect of the IoT sphere in 2020. Let’s take a closer look at IoT tech-trends to find out how you can utilize the most by being well pre-prepared to take the lead!
Trend #1 A leap in Artificial Intelligence
What respondents say about emerging technology.
With the growth of IoT, several devices interconnect, which leads to a rise in the amount of data. Such vast amounts of data become a playground for Artificial Intelligence. The tremendous potential of AI is accountable only when large amounts of data are available.
As the Internet of Things technology boosts in 2020, entrepreneurs around the world are leveraging the emerging technology and investing in the benefits of AI to reap the benefits considering the future benefits.
“If you invent a breakthrough in Artificial Intelligence so that machines can learn, that is worth 10 Microsoft.”
-Bill Gates (in an interview with the New York Times)
In 2020, Amazon, Microsoft, and Google, the global cloud vendors, are competing based on their AI capabilities. Major start-ups and even established enterprises are investing in AI this year to make the most out of their abundant data by adopting machine learning and deep learning.
The merger of these two most potent technologies- AI and IoT is going to turn out essential data analysis generating high value. They will cover data discovery, predictive analysis, time series accuracy, and logistical data.
Trend #2 Voice User Interface will be no more a Fantasy
By far, only a narrow audience knows about Alexa, Google Assistance, and Siri as speech-recognition internet of things devices. However, with IoT exceeding all the bars in 2020, several people are accepting these and even other personal audio assistance with enthusiasm. It has given the companies producing these devices a leveraging opportunity to establish the Voice User Interface (VUI) dominantly.
Source: Dialogtech
Voice is the simplest and the most-used (80%) mode of communication. Entrepreneurs like you must take any opportunity to avail- VUI to your customers. The corporate and lifestyle sector has proper scope for VUI, for example, in meetings/conferences, office check-ins, shared data access, etc.
Trend #3 BigData will make you the Boss
The humongous data generated from the internet of things devices and sensors leave is a chief driver for the growth of the global BigData market. IoT leaves a trail of useful information such as human interest, patterns, decision instincts, work habits, productivity zones, and more. This enormous amount of data hence generated, is used by the BigData techniques to transform it into useful analytics.
IoT and Bigdata
Marketing research by Frost and Sullivan has shown that when powerful technologies like AI, IoT, BigData, and Blockchain come together, they can bring transformation into the human lifestyle. The organizations using these analytics are assured to succeed, so why not be the first one!
Trend #4 Blockchain as a Savior
With the rise of IoT, security risks are also increasing. As the network of connected devices is growing, the vulnerability faced by data is a serious consideration. This scenario gives an open gateway to Blockchain technology. Blockchain is a decentralized network where everyone on the network can access the data over it freely, and only the ones having a private key can make any transactions.
Blockchain as a savior + IoT
Source: LongHash
Blockchain firms registered in China per year.
According to International Data Corporation, 20% of IoT projects will expedite Blockchain. Blockchain eliminates the need and role of the middlemen; hence, it lays the maximum reliability and trust on the network. Financial institutes, Industries, Entreprises, and Governments are using Blockchain, and the IoT wave has put higher hopes on Blockchain.
The combination of IoT and Blockchain is an extravagant solution that has the potential to flourish in the following industries: Supply Chain, Logistics, Agriculture, Smart homes, Pharmacy, and Automotive.
Trend #5 Digital Twin Technology for Speedy Implementation
The Digital Twin is a digital copy of a physical object, created to optimize productivity, reduce time-to-market, and eradicate failures. With the Internet of Things technology emerging in 2020, organizations are leveraging the Twin technology to a higher degree.
As per Gartner, by the end of next year, above 50% of the industries will be using Digital Twin Technology. The benefits of this acute tech are delivery of next-level performance by eliminating complexities. The Digital Twin of any IoT device can help replicate, simulate, test, analyze, and explore hazardous environments.
In this way, Organizations like yours can reduce costs, increase accuracy, avoid failure, and predict the future.
That said, every big opportunity comes with an elevated responsibility. To avail yourself of these leveraging opportunities that IoT brings, you must also consider what you should be precautious. Every coin has two sides, and so does the coin of IoT. With the highs that IoT brings in 2020, we should also prepare ourselves for the lows.
Let us have a quick look at them to be aware.
Trend #6 Security Concerns
Security is a crucial aspect of the Internet of Things technology that has been in debates. We believe that as IoT grows, the security concerns will also increase.
The Internet of Things offers endless possibilities to improve the interaction between smart devices and data sharing, but this same feature makes it highly susceptible to vulnerabilities.
As the network of connected devices grows, it becomes a mandate to keep the data secure. Hire expert IoT Company to develop viable solutions that ensure data safety with no leakages in the network.
Trend #7 Social, Ethical, and Legal Issues
IoT is a comparatively new technology, and that is the reason for it being unregulated. Sooner, the data collected by the IoT connected devices will categorize under the General Data Protection Regulation (GDPR).
Hence, as you want to work with IoT, you must ensure the personal data security and develop IoT apps and devices that are ethically and socially viable, after all the legal considerations.
Trend #8 Lack of Standardization
The ever prevailing standardization problem still retains. With various organizations inventing their own IoT devices with their customizations, there rises the ultimate choice hindrance of compatibility and acceptance for the end-users.
Hoping for a solution that comes up like a standard framework for all kinds of Internet of Things devices is a win-win situation for everyone.
In a Nutshell
The IoT has evolved significantly over the past few years and is continuing to grow fast in the tech world. Experts say that industries and consumers are going to be lucky for advanced smart- devices. IoT will inevitably become more intuitive and easy to implement. Businesses of all shapes and sizes want to lead this revolutionary phase by creating their own IoT app, if you too want to be a part of the digital revolution and looking for experts who have upper hand as well as proven expertise in IoT, then Hire IoT Developer from us to hail on the ride to success.
