Top 7 Trends in IoT to Look Out for in 2021
Digital transformation speeds up rapidly, and with higher connectivity, thanks to the fastest WiFi and amazing 5G and improvements in ML and AI. The Internet of Things looks set to deepen its roots in our industries and lives. With more than 30 billion connected devices, the IoT has primarily changed the model of interaction between intelligent solutions, real-life objects like home appliances, and electronic gadgets, assisting us to improve our daily life. As technology is in its golden age, more and more companies will see IoT as a beneficial tool; this will result in mass adoption.
‘Market Snapshot- The Internet of Things’
• The Internet of Things tests market scenario was valued at $ 1107.2 billion in 2020 and projected to hit $ 6042.45 b by 2026 & rise at a CAGR of 32.34 percent over the prediction period (2021–2026). The usage of IoT tests using modern technologies has led to the highest use of distinct kinds of test tools for distinct purposes, and the market is projected to grow at a speedy rate during the period time.
• Microsoft market research says, approx. 94 percent of companies will use some sort of the Internet of Things by 2021. Core IoT verticals like retail, government, manufacturing, healthcare and transportation continue to launch new IoT solutions and apps to their everyday operations.
• As per Statista, the total dollars spent on IoT solutions globally is anticipated to almost double in 2021, up to $418b from $248b. Surprisingly, by the year 2025, that number is projected to be USD 1,567 billion. The international market for IoT end-user solutions is projected to raise to 212 b U.S. dollars in size by 2019. The technology hit USD 100 billion in market revenue for the first time in 2017, and predictions proposed that this figure will rise to about 1.6 trillion by 2025.
• Fortune Business Insights report says IoT technology holds important potential in the ICT segment with the worldwide market valued at $190 b in 2018 and hitting $1.1 trillion by 2026. The report projects that the international market will grow at a surprising CAGR of 24.7% all through the estimated years.
Progressively more organizations will recognize this potential this year, assuring development for this trend. Let us dive a little deeper and explore the IoT-related trends that will shape the digital transformation approach for businesses in 2021.
7 Biggest IoT Trends to Watch Out for 2021
1. Focus on Security to meet the Complex Challenges
Security has become a foreseeable matter nowadays, and with up-and-coming technologies, companies need to make certain the data security to retain their customer’s interest. Hence, IoT is expected to concentrate on security to meet the complicated challenges in the coming decade. With various devices, IT administrators are hostile to know how many gadgets are usually connected to their networks leaving them susceptible to attacks. Besides, connected devices remain susceptible owing to exposure to cyber-attacks. The amount of Internet-linked gadgets has shown a notable rise, and they will keep mounting in the coming decade. Therefore, extra cautions of network operators can easily stop intruders to enter the network making IoT security the most modern IoT trend.
In 2021, we would likely see an increase in the security-centric smart gadgets, counting AI-driven, automatic capacity to scan networks for IoT gadgets. Big tech enterprises are expected to lead the way in this arena. Big giants like Amazon recently announced a chain of new traits that allow users to take control of privacy and data settings. Apple and Google are also in the same race to follow suit in 2021 with a focal point around the security features marketing in IoT-centric devices.
2. Artificial Intelligence meets IoT
In addition to security, the focus is also moving to the holistic improvement of production procedures. In simple words, the combination of advanced technologies into an “Artificial IoT” mainly reduces deviations from the optimum in the manufacturing procedure and therefore ensures high performance, lower costs, and less waste. Through AI, production processes can be continuously and automatically optimized with the assistance of ML methods. Besides, AI-driven analytical solutions have the control to aggregate huge amounts of sufficient high-quality data and information; process it in real-time and draw effectual insights. Moreover, close integration of AI, smart devices, and Big Data will also contribute appreciably to give protection against security risks. So far, merely a few businesses have deployed AI Internet of Things. That will change this year.
3. Enhanced Role of Data Analytics
Data analytics plays a crucial role in well-organized and effectual business management to make a significant decision based on a detailed analysis of the gathered data. The modern AI-centric data analytics solutions, powered by Big Data technology and AI algorithms, can collect a huge chunk of information, examine it in real-time, and derive valuable insights from it. This powerful incorporation of Big Data, Artificial Intelligence, and IoT devices will allow users to make important and effectual business decisions with ease based on the information & insights collected by the data analytics. IoT not only aids in examining behavior and spit out data; it is also about rapid data processing and giving proposals based on those findings.
Leveraging data analytics will complement the data scrutiny produce and process by the internet of things solutions. When executed correctly, data analytics will allow users to pick up on trends or patterns within the information gathered by their devices. Consequently, the insight acquired by the data analysis confirms a business is well equipped with the data required to make
4. Blockchain Technology
IoT devices very often are susceptible to security breaches that make them target for DDoS attacks. Blockchain technology or distributed ledger technology emerges as a suitable tool to guarantee data safety during encryption techniques plus peer-to-peer contact without intermediaries. It is amongst the top-most IoT trends that address major IoT scalability and security challenges. Credited to its exceptional capacities and advantages, Blockchain is an information game-changer, giving a means for data to be recorded and shared by a user’s community. It is more often looked upon in the context of IoT data security.
It has become the norm for banking or financial institutions to guard their operations with the aid of Blockchain technology. Similarly, blockchain is at present amongst the top IoT trends due to its capability to confirm data protection through encryption techniques without intermediaries.
5. Emerging IoT Apps
Apps and use cases of the Internet of Things solutions are evolving at a fast pace. Presently, its apps surround smart homes, smart grids, wearable, smart cities, industrial settings, etc. With the rise and development of this technology in the upcoming future, the Internet of Things will reach more business and industry settings, leading the globe towards more digital. Knowing the Internet of Things use cases will assist companies to integrate the Internet of Things technologies into their upcoming investment decisions.
6. Edge Computing
What is edge computing? With this a distributed computing paradigm, rather than the Internet of Things devices sending all the information they gather to the cloud for investigation and extraction of insights, this work is performed straight on the devices themselves. Adoption of edge computing will become more significant for the Internet of Things devices to conquer the cloud computing drawbacks such as latency issues and low bandwidth faced in real-time data processing. Edge computing is an accurate data processing and cost-efficient method for IoT devices.
Companies should make decisions based on IoT information speedier than ever before to appreciate the true devices value on the network. With the union of 5G networks, an increase in IIoT and IoT devices, and a striking increase in the data amount we are collecting, edge computing can be turned up as significant as ever in this year.
7. Investment in IoT App Testing
Smart sensors, wearables, and connected devices will continue to alter the way healthcare is delivered, from automated homes to telemedicine help for the disabled and elderly. Besides, in situations where the risk of virus infection is strong, it will also be used to minimize unnecessary contact.
The IoT testing is all set to incorporate with other technology to make life smart and easy. If we speak about the IoT role in the banking industry or its penetration into healthcare services, growth in this technology will continue to bring great deeds across the globe. The IoT trends would bring the world together and make it victorious in every way.
As time changes, the future of IoT app tests will continue to grow. We would have the Internet of Things attached to more or less in all inventions. Let’s get ready to observe this year the creativity of automatic urban societies working with each other with zero contact.
Final words
2021 promises to be another year of trouble and uncertainty around the globe and IoT technology will undoubtedly deliver practical solutions to various complexities and challenges faced by people working tenuously.
