#iot technologies

The digital transformation in businesses is now only limited to our imagination. The ever-changing context of technology is predicted to leap in 2024.

While businesses brace for the next advanced technological waves, the Internet of things and machine learning technologies have already started making a great deal. These technologies are envisioned to uphold the rapid evolution in 2024.

The top organizations have begun to adopt machine learning for their IoT platforms and devices. We ensure you get the right approach to your business success with these trending topics in 2024.

Witness the change in business operations in 2024 with advancements in technology, how?

This blog will help you out!

Introduction to IoT and Machine Learning

The Internet of Things (IoT) and machine learning (ML) are two of the most transformative technologies of our time. They are rapidly changing the way we live, work, and interact with the world around us.

The Internet of Things (IoT) and machine learning (ML) stand as two revolutionary technologies shaping the landscape of our modern era. In a world where connectivity and intelligence converge, IoT and ML are not just innovations; they are the architects of a new way of life, redefining how we live, work, and engage with the world around us.

What is IoT(Internet of Things)?

The Internet of Things (IoT) refers to the network of physical devices embedded with sensors, software, and other technologies that allow them to connect and exchange data with each other over the Internet. These devices can range from simple everyday objects like thermostats and light bulbs to more complex industrial machines and medical devices.

IoT technologies are transforming the new economy companies, from enhancing customer service to transportation and more. Explore the benefits of IoT-based solutions.

Top IoT technology trends that will impact industries around the globe in 2021

The rampant adoption of IoT has been setting new records in the technology world since its inception. IoT’s prominence will continue to flourish for the years to come and in the year 2021, this technology will serve many industries with more data-intensive solutions.

Let’s look at some statistics put forth by International Data Corporation (IDC), as per a post on Business Wire.

The worldwide spending on IoT will return high growth rates by the year 2021 and attain a CAGR of 11.3%.

The worldwide expenditure on IoT in the year 2022 will cross the $1 trillion mark.

These estimates by IDC experts make it evident that the IoT sector will witness heavy growth in the upcoming years. This sector will also set some ground-breaking trends that will revolutionize the market altogether.

So, in this post, we are going to peek into such pioneering IoT market trends which may prove game-changers for several industrial sectors. We will take a look at how these trends will enhance the IoT app solutions and reshape several businesses.

Top IoT Market Trends that will Disrupt the Tech World in 2021!

IoT, Wearable Technology and Healthcare Sector

‘IoT in healthcare’ isn’t a new concept but with the advent of Covid-19, wearable devices and related IoT app solutions are being used more persuasively. Since the year 2020, remote healthcare solutions are being encouraged for regular check-ups, remote patient monitoring, etc. Virtual care is being provided using smart connected devices. Richer data-driven health services will also be delivered in 2021 and in upcoming years.

Hyper-Automation with RPA and Advanced Algorithms

A set of advanced technologies like RPA, advanced algorithms, process mining, smart analytics, etc. with IoT can be used for hyper-automation in organizations. It may sound similar to automation but isn’t the same. Hyper-automation is based on traditional automation processes and allows organizations to automate numerous processes more effectively, intelligently, and proactively.

IoT and Cyber Security

Security threats like cybercrimes, cyber-physical attacks, IoT attacks, ransomware, crypto-jacking, government-sponsored attacks, etc. are on the rise, especially since people have started working remotely.

Vital organization data like personal sensitive information of employees, and clients, banking details, details of citizens on government records, etc. is constantly at risk of being stolen by hackers and cyber-criminals for selling it to black markets. Owing to this, the IoT app developersand security specialists are working on developing robust IoT-enabled security strategies and also on upgrading the IoT apps to reinforce the security firewall.

IoT Combined with AI and ML Capabilities

AI and ML have provided great value to businesses by facilitating automation of mundane tasks, simplification of work, and collecting accurate data. Furthermore, in tough times of the pandemic, these technologies have ensured uninterrupted delivery, supported critical processes for companies and governments, helped in social distancing, and understanding the Covid-19 virus, etc.

In the year 2021, MI and AL, together with IoT will shape the future of human-machine interactions using data-driven insights. They will change the dynamics of the business landscape innovatively.

IoT and Blockchain

IoT security has long been a matter of concern and Blockchain seems to be a potential solution for this. Blockchain consists of strong protections against data tampering. It locks accessibility to IoT devices, and thus, allows compromised devices present in an IoT network to shut down when required.

So in the future, a myriad number of financial enterprises, governmental institutions, small and large businesses, and even the consumers will be decentralized and self-governing. They will leverage Blockchain to secure their IoT products and services.

Recently, Hyundai has extended its support to a Blockchain-based start-up designed specifically for the security of IoT devices and IoT-powered software solutions.

Edge Computing

The data of IoT devices were being stored in cloud storage for a long time, but now, the IoT app solution providers, manufacturers, development services, etc. are thinking about the utility of calculating, storing, and analyzing data to the limit. That means, before sending the complete data from IoT devices to the cloud, it will be transmitted first to a local storage device near the IoT device i.e. on the network’s edge.

Later, this local storage device analyses the data, filters it, sorts it, and calculates it to send it either completely or partially to the cloud, ultimately decreasing the traffic on the network and thus, refraining from any bottleneck conditions. This approach is called “edge computing.”

Edge computing is growing exponentially and may overtake cloud computing in the year 2021, owing to the remote work approach. This approach helps in the proper management of large chunks of data sent by every device. It decreases the overall dependency on cloud storage, due to which apps perform faster with reduced latency. It also leads to lower security costs. Today, giants like Dell, HPE, IBM, etc. are working on creating such solutions for edges having cloud-like features.

IoT and SaaS

While addressing the IoT Trends, we can’t ignore SaaS or Sustainable-as-a-Service. Owing to its low-cost entry, the SaaS model is rapidly becoming popular for designing outputs that will make the lives of people better.

Also, it is estimated by some technology enthusiasts that the Internet of Things is aimed to bridge the gap in connecting individuals and organizations to service-based solutions.

IoT-powered Smart Home Devices and Smart Cities

The discovery of IoT-based smart home devices was initially being mocked by many. However today, their popularity is soaring as these devices have become more innovative and intuitive and not only ensures home automation but also enhances home security. Besides, they help energy conservation and save on electricity bills due to the usage of intelligent thermostats, smart lights, etc.

IoT and modernization have led to another noteworthy accomplishment- smart cities. IoT tools and superfast data transfer of 5G will together lead to improved public transportation, smart parking lots, automatic traffic control, higher security, smart infrastructure, better water management, smart waste management, etc. in the future. Thus, IoT will power the building of sustainable cities and probably a greener future.

IoT for Energy and Resource Management

For energy and resource management, it is important to gain vital insights into how resources are being consumed. Smart app solutions play a vital role in collecting such data. Some applications like in-house temperature management, sprinkler control, etc. help in managing power consumption.

Besides, IoT devices and applications can help in lowering energy spending, optimizing asset management, integrating green energy, identify malfunctions in advance for preventing them, minimizing carbon emissions, effectively combat accidents, outages, blackouts, etc.

Wrap-up:

In the year 2021, IoT trends will enhance drastically, owing to the shift in overall work culture and the current economic changes due to the Covid- 19 pandemic. But challenging times always come with some great opportunities too. This is a great opportunity for every IoT app development company to architect best-in-class solutions that benefit different sectors.

To know more about our other core technologies, refer to links below:

React Native App Development Company

Angular App Development Company

Internet of Things (IoT) is highly being discussed in recent years. IoT is nothing else but internet-connected devices that impact life both at work at home. And, tech-savvy consumers are either already used to it or at least aware of it. This is the result of continuous advancements in technology, especially smart technologies. You might be thinking that it’s meant for those who have the budget but let me make it clear that IoT is making even the small businesses and startups to run efficiently.

In this blog, we’ll discuss the technical devices/applications for small businesses and startups that IoT offers:

Voice Assistant:

Yes, as the name suggests, it’s your assistant that has already been enabled by IoT on your phones, computers and smart speakers. Both startups and small businesses can immediately take advantage of available voice assistant IoT technologies (Google Assistant, Amazon’s Alexa or Apple’s Siri) by linking them to the task management systems, calendar or notes. These voice assistants are capable of controlling most of the IoT devices. This frees up time for business owners to focus on other important things like business strategies or issues. It’s believed that over the next five years, the voice assistant is going to be an integral part of business operations as they are the most efficient and accurate IoT applications available today.

Shipping Trackers:

IoT technology is all set to give you the best services. Yes, using IoT, you can now have end-to-end visibility into shipping. With the help of IoT devices fed into transportation management and supply chain platforms, you can get all the critical information at various stages of shipping. Based on the sensitivity of the product, you can continuously monitor temperature, humidity, shock, and vibration level during shipment. Hence, it helps small businesses to reduce supply chain costs. Not only this, but it also reduces buyers’ cost as there would be no spoiled goods due to proper maintenance during shipment.

Smart Locks:

As the name suggests, this lock provides security to your locks as they are less vulnerable to theft or loss. This smart lock makes it convenient for small businesses to manage access to a building from any device and make sure that the building is opened and closed at the right times. It has a unique access code that allows the business owner to manage and track everyone who enters the building. This lock is more effective when used in conjunction with cameras and alarms. You or your employee need not be there in person to allow visitors, workers or delivery people to enter the building. Even if your employee loses the key, you may avoid major security risks with the help of this smart lock as this lock can also be controlled by phones or other devices.

Connected Cameras:

Security cameras have been in use for decades and are now becoming less expensive. They are even more powerful when used along with smart locks. It allows business owners to monitor areas like offices, warehouses, and more without the need of any server or storage devices as the footage is saved over the cloud. They don’t even need cables as they rely on Wi-Fi for internet connection. As long as they have a power connection, you can place them wherever you want.

Mobile Card Readers:

These mobile card readers as the name suggests are meant to accept payment through credit and debit cards. The introduction of these card readers has not only helped businesses reduce accounting errors but has also made it convenient for customers to just carry the card. This reduced the need for cash, thereby reducing the risk of theft. As a coin has two sides, these mPOS (mobile point-of-sale) devices and systems also have the risk of hacking and fraud. So it’s advised to keep your system up-to-date and protect it with firewall, authentication, and passwords.

Inventory Management System:

Today there are many startups and small businesses that are using barcodes and IoT devices in combination with radio-frequency identification (RFID) scanners to create smart stores. These smart stores have sensors and cameras that allow you to manage remote and centralized inventory including automated restocking. It’s even predicted that in the near future there will be IoT robotic carts who will completely automate delivery.

Smart Lighting and HVAC:

IoT connected smart lighting system helps businesses in saving energy for up to 90 percent. You can control these smart lights from mobile phones or other smart devices. Similarly, IoT-enabled HVAC (heating/ventilation/air-conditioning) products can result in significant energy cost savings. All these products use sensors to determine whether the rooms are occupied or empty and adjusts lighting, heating, cooling accordingly.

Summary: