Internet of Things: Trends and Prospects of Development

The Internet and the ever-increasing speed of data transfer set the direction for the rapid growth of IoT development. The progress in the IoT sphere, in turn, has an impact on the worldwide network, data transfer, and digital transformation. According to Statista, global IoT spending will reach $1.1 trillion by 2023. The Asia-Pacific region holds the largest share of the IoT market, ahead of North America and Europe.

Let’s take a look at the most essential IoT technology trends.

IoT and healthcare

Promoting a healthy lifestyle is yielding results – care for the health, good and healthy food, and sporting activities are global trends. Here IoT has occupied their niche. Fitness trackers, smartwatches, scales, and even smart ovens for healthy cooking are examples of IoT integration into our lives. The covid-19 pandemic has made its adjustments and prospects. The growth of telemedicine services has a positive effect on medicine equipment development that can collect data about the patient’s health condition, and transmit it to doctors using the Internet. These are such devices as heart monitors, glucose sensors, oxygen pumps, speech analyzers, etc. Some of them can work autonomously, improving the patient’s quality of life. IoT solutions allow patients to be treated remotely, thereby limiting the transmission of the virus. The trend of using IoT in medicine will gain momentum, involving more and more new devices that help improve the quality of medical services.

IoT and industry

IoT solutions are used for the needs of industrial production. Manufacturing companies see the benefits of using such devices in production. Sensors to control industrial equipment and environmental parameters help solve many complex tasks. In particular, they help to carry out maintenance in time, predict possible failures and breakdowns, and thus make it possible to prevent them. Smart appliances help make the enterprise greener. Various augmented reality and virtual reality tools are applied to train staff and develop skills to act in non-standard situations.

IoT and a Strategy for sustainable development

The Internet of Things usage is a part of a sustainable development strategy. Industrial facilities install sensors and detectors to control air emissions and wastewater. Smart devices monitor the composition of the air, control humidity and water levels in reservoirs, and immediately report changes. Even today, the introduction of such devices makes it possible to prevent or promptly localize fires and floods. Soon, IoT can minimize the harmful impact of industrial enterprises on the environment and reduce losses from natural disasters.

IoT and Edge AI

Edge AI transfers data processing closer to the factories and helps to raise overall equipment effectiveness. Using AI analysis, Edge AI can take and keep a wealth of IoT data. It makes it possible to use the cloud with maximum efficiency and improve system flexibility. 5G networks with their 20Gbps speed (in comparison to 1 Gbps of 4G), with the number of simultaneous connections around 1,000,000 devices/km2 and 1 ms latency speed, give outstanding results and perspectives for future artificial intelligence. IoT devices push data constantly, and therefore any falls in the transfer can cause latency that is unacceptable for some IoT appliances where immediate response is a strict necessity. For instance, autonomous vehicles and industrial machines require real-time data analysis.

The Internet of Things has a bright present and an even brighter future. Smart devices are applied in production and everyday life. Companies of any size, from start-ups to industrial giants, and different levels of expertise, need high-quality IoT solutions. More and more IoT development teams are offering their outsourcing services. It’s important to choose a reliable developer who has extensive experience in creating IoT devices and has a vision of future trends. Such an electronic design company will become your reliable partner.

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