Article | January 29, 2021
The COVID-19 pandemic turned the tides towards remote work and virtual connectivity. And even though growth seemed to have slowed down in 2020, experts see double-digit growth in the next few years. The tides may be turning but virtual connectivity and the tools required for remote growth are not slowing down in demand. As the tech world adapts to new shifts, IoT is among one of the most anticipated technologies to prosper in 2021.
Digital transformation has rapidly accelerated in the past year and if the experts are to be believed, 2021 shows promise for an even better year for technological advancement. According to IDC’s 2020-2024 forecast, spending will reach an annual growth rate of 11.3 percent. And with this, the number of connected devices is likely to grow up. Take a look at what will be the focus of IoT industry trends in 2021.
Privacy & Security
As smart homes are becoming the norm and you cannot throw a stone without hitting a smart device, one thing is clear—IoT devices are everywhere. People almost always forget smartphones when talking about IoT devices, but the fact is that smartphones are very much a part of the IoT ecosystem. And with the infusion of IoT in our everyday lives, questions about privacy and security are cropping up.
In 2021, privacy and security will be at the forefront of IoT industry trends, as devices infuse further into the everyday lives of people. According to recent research, 90 percent of consumers lack confidence in IoT device security. And the onus of bolstering consumer confidence will be up to IoT businesses.
According to Gartner’s “Top Strategic Technology Trends For 2021” report, IoT will be a large part of the office experience in 2021. As businesses are trying to avoid the losses that occurred in early 2020, workplaces are being geared up with RFID tags, sensors, and monitors to ensure social distancing measures, whether employees are wearing masks and overall health monitoring.
Additionally, many organizations have decided to move permanently to a remote mode and will rely more on IoT devices for connectivity. So we can expect better automated scheduling and calendar tools, more interactive video conferencing, and virtual meeting technology. In the case of fieldwork, IoT will offer an added factor of monitoring behavior.
Experts predict that energy will be a crucial factor in the IoT industry trends in 2021. With smart grids, metering, and restoration resilience being powered by IoT, 2021 will move towards optimized energy consumption and devices that are designed to encourage energy-friendly practices.
What’s more? Smart engines and automobiles can be optimized to reduce their carbon footprint and become energy-friendly. As evidenced by the Paris summit and the wildfires in 2020, the world is becoming ecologically conscious. IoT devices in 2021 will focus heavily on reduced emissions, lowering air and ocean pollution, and minimizing power expenditure.
As COVID-19 limited human interaction, location-based services soared during the pandemic. Businesses started leveraging location data to offer curbside pickup, virtual queues, and check-ins for reservations to enhance the customer experience during the pandemic.
According to experts, the use of location data will continue to be crucial for customer service and convenience in 2021. As people prefer being safe even as the vaccines are being delivered, location data will allow businesses to cater to their customers without compromising on customer or employee safety.
IoT is being helmed as the perfect technology partner for creating digital twins in many industries. As IoT collects a large amount of data through physical devices, this data can be reinterpreted to create the perfect digital twins. Also, IoT can offer visibility into the full product life cycle and unfold deeper operational intelligence. Companies like Siemens are already leveraging technologies like AIoT to design and create digital twins for product design and production. Coupled with AI, IoT will be used more commonly for creating digital twins in 2021.
A technology as dynamic as IoT can be leveraged for almost any application. Therefore, it may surprise us all in the way it progresses in 2021. However, experts believe that the above 5 IoT industry trends will rule 2021 for sure.
Frequently Asked Questions
What are the latest IoT industry trends?
The use of IoT in Healthcare, Artificial Intelligence, workforce management, and ecological conservation can be deemed as some of the latest trends in IoT.
What is the future scope of IoT?
As experts believe there will be over 85 billion connected devices by the end of 2021, and the numbers are promising for upcoming years, we can safely say that the future of IoT is indeed bright.
What industries are most likely to use the Internet of things technology?
IoT is a dynamic technology with applications in almost every industry. However, industries like healthcare, construction, manufacturing, tech, and resource management are most like to use IoT right now.
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"text": "The use of IoT in Healthcare, Artificial Intelligence, workforce management, and ecological conservation can be deemed as some of the latest trends in IoT."
"name": "What is the future scope of IoT?",
"text": "As experts believe there will be over 85 billion connected devices by the end of 2021, and the numbers are promising for upcoming years, we can safely say that the future of IoT is indeed bright."
"name": "What industries are most likely to use the Internet of things technology?",
"text": "IoT is a dynamic technology with applications in almost every industry. However, industries like healthcare, construction, manufacturing, tech, and resource management are most like to use IoT right now."
Article | January 29, 2021
The Internet of Things has been a breakthrough, and adoption rates keep exploding. There are possibly over 20 billion IoT devices in the world, and by 2025, there may have been 75 billion. Even though there has been a rise in smart home devices, most IoT devices are found in businesses, industries, and healthcare. The benefits are overwhelming: from enabling automation of repetitive tasks (both simple and complex), to real-time data insights and analytics, IoT devices make workers more productive, improve customer experience, and reduce operating costs. However, with the many benefits of IoT devices come serious disadvantages, chief of which is security. Here are some reasons why IoT devices have such serious security risks:
Article | January 29, 2021
A new report from ABI Research predicts that cloud platform suppliers will see a more than $50 billion increase in their share of IoT data and analytics revenue by 2026.Companies providing cloud services have spent years building out their investments in the IoT space and continue to make headway in spreading cloud usage throughout the IoT value chain. The figures come from ABI Research's IoT Analytics and Data Management Services Strategies of Major Cloud Suppliers application analysis report, which examined the competitive outlook of the cloud vendor market and recent acquisitions. The report takes an in-depth look at how leading cloud providers like AWS, Azure, Oracle, Cisco, Huawei, SAP, Google, PTC, Cloudera are positioned in the IoT market and it compares the tools and services offered by each company. It is designed to help IoT companies figure out who the market leaders are, which cloud platforms would be most relevant for their particular industry and revenue forecasts from 2019 until 2026 for IoT integration, storage, analytics, presentation and professional services.
Article | January 29, 2021
Artificial intelligence (AI) has existed in the public consciousness for decades. The (mostly) sentient machines playing the villains in Hollywood movies have never been realistic depictions of the technology, but they have left an impression, nonetheless. AI has proved as exciting to the layman as it is to the expert. Usually based in remote data centers, AI is capable of collecting and examining immense volumes of data, generating insights based on analytical algorithms. With varying degrees of autonomy, these capabilities have been put to use streamlining decision-making processes. While AI is often thought of as a product in its own right, it is increasingly intersecting with other parallel trends. Chief among these is the Internet of things (IoT), which enables previously isolated machines to “talk” to one another and, at the same time, generate data that makes new modes of operation a possibility.