When we say IoT, what comes to your mind?
I’m sure it’s getting you up in the morning with coffee waiting for you, automated lighting, task, or grocery reminders, and so much more.
Am I right?
So, these are the things we’ve heard, seen, and read. And these technologies are helping to make this idea a reality.
Today’s IoT technology is in its golden age, revolutionizing companies by storing and processing data distributed and increasing productivity.
IoT is a network of networked devices that can interact. These smart linked gadgets can collect, exchange, analyze, and act on data.
According to research, there will be 35 billion smart devices connected by 2022 and 75 billion by 2025. So, the IoT is developing rapidly, as are the use cases, trends, and technologies that surround it.
India’s IoT market to reach $9.28 billion by 2025: Frost & Sullivan
Artificial intelligence, blockchain, 5G, and edge computing are driving new IoT trends. The commercial value of IoT applications includes smart wearables, smart homes, and buildings, smart cities, autonomous automobiles, smart factories, location trackers, wireless sensors, etc. This degree of connection allows users to operate and monitor their homes from anywhere. IoT also saves money and energy. The internet of medical things has improved the healthcare industry and patient service. From a corporate perspective, IoT projects thrive by streamlining operations, increasing resource efficiency, reducing labor costs, and most importantly, expanding business potential.
The Internet of Things (IoT) is emerging technology development. While the term “internet” originally referred to the worldwide networking of computers, it is now used to refer to devices of all sizes and shapes, from vehicles to household appliances to industrial gear.
The worldwide coronavirus epidemic has likely influenced the way this trend develops and impacts our lives. In the future when the human touch is restricted, technology, tool, and toy interaction may help us stay connected.
So, here’s my take on how this megatrend will play out in 2022, and how it will affect how we live, work, and play.
- Healthcare investment in IoT will rise to new heights: Medical technology is evolving rapidly, from telemedicine to automated home care for the aged and crippled. It will also be used to reduce needless interaction in high-risk environments like care homes and hospital infectious disease units.
Initial estimates for the number of “virtual visits” or online appointments with healthcare practitioners in the US were 36 million. That figure is currently approaching one billion, and that trend will likely continue in 2021 as the infrastructure and patient awareness grow.
The market for technologies that help the elderly stay independent in their own homes is also booming. This will include AI-powered systems that can detect falls or changes in daily routines and inform family members or healthcare professionals. The same technology may be used to assess the health of persons who may be shielded or isolated at home since the sickness can render people unable to seek care on their own in a matter of hours.
- The Internet of Things leads to a more productive WFH: Many of us in the information economy now work from home owing to worries about big crowds in workplaces and city centers. After all, many of us now have AI-powered personal assistants like Alexa in our homes. This means more automatic scheduling and calendar systems, as well as better video conferencing and virtual meeting technologies. Our attention spans will be improved by immersive AI-powered presentations, such as Microsoft’s Virtual Stage platform.
When physical presence is still required – as in most manufacturing, industrial, and logistical activities – IoT allows assets to be monitored remotely, allowing automated equipment to continue working while human engineers or maintenance workers are informed when their intervention is required.
- Internet of Things in retail – more secure and efficient businesses and supermarkets: The retail industry has been struck severely by the coronavirus. As we witnessed early in this epidemic, many non-essential stores may be temporarily closed with little impact — owing to internet shopping. Food and pharmaceutical stores must stay open to meet the fundamental requirements of residents.
As we supply our houses with food and other necessities, we should expect to see new uses for inventive models like Amazon’s fully automated supermarkets. Massive fulfillment centers that ship products to stores will likewise benefit from IoT-enabled gadgets. Contact-free payment options will become more common as we get closer to the “cashless society” that has been anticipated for some time.
RFID tags will also be used in retail to monitor client movement throughout businesses. As previously, this will be utilized to make stock placement and replenishment choices by tracking consumer interactions with displays and items. It will also be used to measure social distance and prevent overcrowding in crowded locations of shops, supermarkets, and shopping malls.
- Internet of Things at the City Level: The theory of the “smart city” has gained popularity in recent years, with IoT technology being used to monitor traffic on highways, public transportation use, footfall in pedestrianized districts, and use of municipal facilities such as recycling centers and garbage collection. Smart meters track energy use in homes and businesses, allowing supply to be adjusted to meet peak demand and reduce wasting where it is not required.
We can anticipate a boom in resources going toward developing digital skills inside local governments in the next year, enabling them to make greater use of emerging technology. This will be critical in addressing the difficulties posed by a changing society. With safety concerns surrounding public transportation, downtown offices, and recreational facilities such as leisure centers and parks, IoT technology will enable governments and businesses to better understand usage patterns and plan safety measures and emergency response strategies more efficiently.
The Internet of Things at the Periphery: Ultimately, information technology is a tremendous trend that will not go away. Like the other trends described above, it will likely accelerate adoption and innovation.
Rather than transmitting all their data to the cloud for analysis, edge computing devices analyze and extract insights independently on their own. It is apparent that reducing bandwidth utilization saves money and saves the environment. The advantages to privacy and data management will be just as important post-Covid. Many preventative and reactive activities depend on highly sensitive data such as health or location data. New means of analyzing and acting on this data will use edge computing to lessen the danger of moving it back and forth between personal devices and cloud servers. This might be crucial in gaining public faith in these measures, which are required for large-scale deployment.
The Facts You Need to Be Aware Of
- As per Fortune Business Insights, the worldwide internet of things market was worth USD 250.72 billion in 2019 and is expected to reach USD 1,463.19 billion by 2027, growing at a 24.9 % compound annual growth rate (CAGR) throughout the forecast period.
- The Internet of Things (IoT) technology industry in the United States was expected to be worth $45.7 billion by 2020. China, the world’s second-biggest economy, is anticipated to reach a market size of US$169.1 billion by 2027, growing at a 29.9 % compound annual growth rate from 2020 to 2027.
- The excitement for future Internet of Things adoption is not just worldwide, but also cross-industry. According to Microsoft’s poll of business IoT decision-makers, 85% indicate having at least one IoT project in the learning, proof of concept, purchase, or usage phase, with many claiming to have one or more projects now in use. The adoption rates are comparable throughout examined nations such as the United States of America, the United Kingdom, Germany, France, China, and Japan, as well as across main sectors such as manufacturing, retail/wholesale, transportation, government, and healthcare.
- By the end of 2022, 94 % of enterprises will be using some sort of IoT, 88 percent of existing IoT company adopters feel that IoT is crucial to their organization’s success.
Now that you know the Internet of Things’ future facts and figures, let’s talk about developing IoT trends. Recent breakthroughs in 5G technology, AI Blockchain, and the ongoing pandemic issue will shape the IoT emerging technologies trend in 2022. But we can’t dispute that IoT will become smarter, safer, and more trustworthy in the future:
Let’s look at some of the top IoT startups in India
- Stellapps
Founders: Ranjith Mukundan and Venkatesh Seshasayee
Founded In: 2011 | Based Out: Bengaluru
Stellapps, situated in Bengaluru, was formed in 2011 by two IITians, Ranjith Mukundan, and Venkatesh Seshasayee, and incubated by IIT Madras. With little work, the firm helps dairy producers and cooperatives maximize income. Stellapps had able to get money from Blume Ventures, Flipkart, and Venture Highway as well. They built the world’s biggest communal milking parlor.
- Zenatix
Founders: Amarjeet Singh, Rahul Bhalla, and Vishal Bansal
Founded In: 2013 | Based Out: Delhi
A Machine Learning course is particularly useful in AI and IoT. Zenatix uses sophisticated ML models to deliver large business energy savings. Amarjeet Singh, Rahul Bhalla, and Vishal Bansal launched this Delhi-based start-up. Wattman and Wattman Lite are two products from the firm that assists save 30% on power. Pi Ventures led a $1M Pre-Series A round for Zenatix.
- Smartron
Founders: Mahesh Lingareddy, Narsi Reddy Posham, and Rohit Rathi
Founded In: 2014 | Based Out: Hyderabad
Mahesh Lingareddy, ex-Intel, and co-founder of Silicon Valley firm Soft Machines established Smartron in 2014. Through its intelligent linked platform TronX, the firm delivers highly customized experiences, services, and care. Normal household items like TV, AC, fridge, and even doors and windows may be controlled with gestures, touch, and voice using TronX. Sachin Tendulkar endorses the startup.
- Carsense
Founders: Rohan Vadgaonkar, Pushkar Limaye, Urmil Shah, and Prathamesh Joshi
Founded In: 2015 | Based Out: Mumbai
Carsense is a leading IoT company in India with a vision to provide auto diagnostic solutions. It is a 2015 business started by four IITians Rohan Vadgaonkar, Pushkar Limaye, Urmil Shah, and Prathamesh Joshi. The business will concentrate on automobile security using GPS, accelerometer, gyroscope, and Bluetooth. It connects to the OBD port and checks the electronic systems (in current automobiles, everything is electronic) in the car. Once installed, it can monitor the car’s safety, provide alerts for maintenance, track the car’s fuel efficiency, and more.
- AerX Labs
Founders: Sumit Rishi, Kartavya Mohan Gupta, and Priyank Sharma
Founded In: 2015 | Based Out: Bengaluru
This Bengaluru-based firm creates professional-grade certifiable simulators for airlines, aviation schools, colleges, and corporations. The company’s founders – Sumit, Kartavya, and Priyank are presently focused on analyzing risk behaviors for pilot training.
- TerraBlue XT
Founder: Rajlakshmi Borthakur
Founded In: 2015 | Based Out: Bengaluru
The medical/health sector is the only one that requires full technological integration. Modern medicine has made deadly illnesses like cancer treatable. A similar thread unites patients, caregivers, physicians, and hospitals, says Rajlakshmi Borthakur. The firm is backed by the Indian Department of Biotech, the Karnataka Department of ITBT, neDFI, birac, and the IIM Ahmedabad Entrepreneurship Cell.
- Hug Innovations
Founder: Raj Shekhar Neravati
Founded In: 2014 | Based Out: Hyderabad
A tool that knows and understands and alerts you to your food intake, water consumption, and other daily actions. This Hyderabad-based business provides an Internet of Things-enabled wearable timepiece called Hug that monitors your music preferences, food intake, water consumption, and calories burned. It monitors your whereabouts and notifies your family and friends in the event of an emergency. Hug Innovations earned $5 million in a Series A fundraising round at TiE Hyderabad – The Guardian Angel.
Top IoT Technology Trends 2022
- Internet of Things protection: Nowadays, security is a major issue with such high levels of connectivity. Unprotected connected devices were attacked over 100 million times in the first half of 2019, according to a security firm. As a result, several companies worldwide are developing IoT security solutions based on various technologies.
- Internet of Things powered by 5G technologies: 5G technology provides the basis for fully realizing the IoT’s promise, changing technological growth. In 2021, steady connectivity will result in more functional IoT devices. 5G enables real-time data processing, lower latency, network slicing, quicker transmission speeds, and expanded coverage.
- Blockchain technology: One of the most recent IoT innovations is the increased usage of blockchain. Blockchain technology has the potential to safeguard IoT data. Due to the distributed nature of IoT applications, blockchain enables efficient interaction between various network nodes and safe record keeping.
- IoT-enabled artificial intelligence apps: Collectively, IoT and AI may give commercial solutions. Currently, AI algorithms generate great outcomes with fewer data. Predictive maintenance and automation are possible benefits of IoT development services for these industries.
- Digital twins: The digital twin concept emerged in 2020. This is a digital twin of a real product or activity. A digital twin can track, analyze, improve, and control inventory accuracy. On track to grow from $3.8 billion in 2019 to $35.8 billion in 2025.
- Voice-activated Internet of Things components: Amazon Echo, Siri, and Google Assistant has matured. Configuration changes, orders, and answers from our smart devices will be voice-activated. Banks and FinTech organizations were early adopters of voice and speech recognition. Also known as speech biometry, it is a breakthrough in a voice It may analyze tone, pitch, intensity, dynamics, and significant frequencies to create a digital voice profile. Organizations believe this method is safer than current ones.
- Smart cities: Smart cities are closely linked to the Internet of Things. There have been several public IoT technology efforts during the past five years affecting whole communities. The government may use intelligent solutions to address issues like traffic congestion, public safety, energy efficiency, and sustainable development. For example, Singapore uses networked sensors to improve urban planning, transportation, and public safety.
- Computing at the Edge: Remote work and COVID-19 are expected to boost Edge Computing by 2021. The invention of new business concepts According to Forrester, big retailers like HPE, Dell, and IBM are selling edge solutions with cloud-like properties. Edge computing helps businesses to reach new clients while keeping control.
- Road traffic control: Imagine going to work first thing in the morning. Traffic and delays are major annoyances that cause individuals to drive longer. Long journeys limit economic production, making traffic congestion a big issue.
It seems that IoT technology may fix this problem. With IoT incorporated in automobiles and traffic systems, several companies now provide smarter traffic networks that reduce unnecessary traffic and congestion.
Businesses, governments, and people are using IoT to increase productivity and user experience. Decades of research and development have had a huge impact on key areas. Examine specific IoT device applications.
A digital revolution fueled by IoT will link billions of people globally. Online activity and government initiatives are helping to grow digitally. This rising trend would undoubtedly undermine India’s socio-economic fabric. According to Markets and Markets, the global IoT sector will grow from over $170 billion in 2017 to over $560 billion in 2022.
“The Internet of Things” is a network of physical objects that connect and interact with their surroundings. This makes all IoT devices easy to use and automate.
The Internet of Things is pushing a digital revolution in home automation:
The drive for Smart Homes has pushed IoT usage in home automation. We need more IoT exposure. IoT is pushed by international firms like Amazon’s Echo and Google’s Alexa. Smart remotes, locks, lights, doorbells, thermostats, etc. are becoming more common. IoT impacts industries including manufacturing, healthcare, supply chain, energy, and agriculture.
- Manufacturing is being disrupted by the Internet of Things: Industry 4.0 is driven by IoT’s ability to automate operations and collect data more effectively. Producing gets easier with IoT since equipment can be coordinated to maximize production. It also has data collecting, smart technological fail-safes, and automated recovery. On these devices, an analytics program will optimize productivity. The Internet of Things (IoT) is often disregarded when discussing analytics, despite its automation providing unparalleled machine data insights. IoT enables smart industries.
- Agriculture is being disrupted by the Internet of Things: IoT enables farming and agriculture to reap the seeds of technology. Farmers may manage crop and animal cycles, analyze farm inputs, and survey farmable land using data from internet connected IoT devices. These technological improvements enable farmers to practice smart farming and meet changing agricultural needs.
- The Internet of Things is upending the energy utility industry: The energy utility business can now monitor energy usage more precisely thanks to smart meters. It also aids organizations in billing customers. Utility companies may use IoT-enabled smart meters to monitor and reward consumers that use green energy. Similarly, IoT-enabled solar panels and other green energy systems are better monitored.
- Healthcare is being disrupted by the Internet of Things: The healthcare sector has embraced the IoT and its benefits. The Internet of Things (IoT) has transformed the healthcare industry by automating and expediting patient data collecting.
- The Internet of Things and the Future of Employment: In different ways, the Internet of Things (IoT) will affect employment. Digital advancements have historically transformed many jobs and terminated others. Like prior industrial and digital revolutions, many expect the IoT will have a hybrid influence on jobs. The Internet of Things (IoT) is expected to create a Hybrid Economy. The IoT-driven digital revolution will create new jobs. Future jobs will need specialized knowledge, cutting-edge technology, soft and physical abilities. But it’s hard to predict how many new jobs will be created by IoT in the next decades.
The Emerging Industrial Internet of Things Applications
Agriculture: Did you know that by 2025, the world’s population will hit 10 billion and food consumption would rise 70%? Our answer is simple: smart agriculture (IoT agriculture). Farmers can make better judgments using IoT sensors. This will increase crop output and quality. It will also save money by using fewer chemicals, water, and power.
- Transportation: In 2022, all automobiles will be smart, meaning they will be internet-connected. These automobiles will improve road safety for both drivers and other motorists. They will be able to update software and reduce pollutants. With IoT expanding, firms will be able to cut their operating expenses and give a better experience to drivers and passengers.
- Healthcare: Recently, the healthcare industry has seen a surge in IoT innovation. As a result of the Covid-19 crisis, demand for IoT health applications like telehealth, remote monitoring, digital diagnostics, etc. has soared. By streamlining interactions and processes, IoT has increased patient happiness and engagement.
- Consumer electronics: The Internet of Things may improve user experience and consumer satisfaction by making daily life easier. IoT collects user data effectively and enables manufacturers to monitor and improve device or application usage. The epidemic will make wearable health monitoring gadgets a necessity.
Conclusion
Soon, IoT technologies will play a major role in the global economy. Blockchain, AI, 5G, cloud computing, and other major technologies will be vital in the evolution of global connection and the internet of things. Because IoT is spreading dominating our lives, now is the time to contact an IoT application development business. We are a leading IoT app development firm in the USA. With the digital revolution, IoT is developing as one of the fastest-growing IT industries in India. It is already altering sectors and India is poised to adapt and hybridize employment to meet future demand. Thus, IoT is igniting the next digital revolution and automating its path.
The Internet-of-Things (IoT), a global network comprising millions and billions of linked gadgets, has lately gained prominence. The main reason is that people are becoming more conscious of technology and IoT devices. A lightbulb that changes color or can be turned on and off by a smartphone app is an IoT device. A doorbell that enables one to see and speak to the delivery person is also an IoT device. IoT gadgets appear to be becoming a part of practically every room or house. Our civilization must advance technologically.
The Internet of Things is redefining modern living. It is also the spark of a new industrial revolution: Industry 4.0, and a crucial element in the digital transformation of enterprises, cities, and our society. Industry 4.0 is all about production automation and enormous data gathering and interchange. We need IoT to evolve as a society, and it has gotten a lot of press.
That’s all Folks!
What we have learned from this article:
- What is the Internet of Things technology?
The Internet of Things (IoT) is a concept that refers to the process of linking any device to the Internet and other linked devices. The Internet of Things is a massive network of linked objects and people that gather and exchange data about their usage and the environment in which they live.
- What is the purpose of the Internet of Things?
The Internet of Things (IoT), sometimes known as the Internet of Everything (IoE), is a term that refers to all web-connected objects that gather, transmit, and act on data acquired from their surrounding surroundings through embedded sensors, processors, and communication equipment.
- Where is the Internet of Things used?
IoT devices may be used to monitor and operate mechanical, electrical, and electronic systems in a variety of different kinds of buildings (public and private, industrial, institutional, or residential), as well as in-home automation and building automation systems.
- What does India’s Internet of Things (IoT) have in store?
According to a joint analysis from FICCI and Ernst & Young, the APAC region is predicted to overtake the rest of the world as the biggest IoT market in terms of both connections and revenue by 2025, with India expected to have 5 billion connected devices by 2022.
- Why is IoT such a promising new field of study?
There are several IoT business potentials in India since IoT has already increased productivity by up to 0.2 percent of GDP and is continuing to do so. Manufacturing enterprises benefit from more than half of these advantages, making it the industry with the greatest promise for IoT adoption now.
