The use of AI and machine learning to analyze and make sense of the vast amounts of data generated by IoT devices is also expected to be a significant trend.
IoT technology is in continuous development. In a relatively short period, IoT has moved from an application tool with limited capabilities and security issues to an international phenomenon used by nearly half of the largest companies.
In the past, IoT and M2M have typically been associated with slow-speed applications, like measuring and telematics equipment, with relatively little data usage and providing fairly benign data to central services supporting business analytics.
5 Upcoming IoT Trends
In 2023, they are likely to be elevated to a higher level. Let’s look at the IoT trends and developments we can anticipate in 2023.
#1: Higher Bandwidth Applications
Up until recently, IoT has been held back due to the type and quantity of data its applications were able to manage.
In 2023, however, we see the IoT trending towards more bandwidth-intensive applications, with more critical data transmitted at incredible speeds.
This will bring about a significant expansion of the possibilities for IoT technology.
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#2: Real-Time Data Processing
With increased bandwidth comes an increase in capacity. We will also witness more companies employing IoT to process real-time data via centralized services.
One of the biggest problems that have been a problem with IoT technology has been the sheer volume of datasets produced.
Although machine learning (ML) and machine-to-machine (M2M) processing have been utilized to accelerate data analysis, there still needs to be a gap between data gathering and processing in most areas.
In 2023, there will be an increased emphasis on real-time analysis in various scenarios, such as video.
#3: Drone & Autonomous Machine Applications
In November 2022, Science Direct published an article on”the Internet of Autonomous Things (IoAT).
It refers to “things that can conduct necessary actions autonomously by employing AI algorithms without the need for human interference or contact.” There are a few applications that can achieve this.
But, this field is bound to increase substantially as we progress throughout the year. One of the most significant growth areas we can see dominate in the shortest time is the logistics and transportation industries.
When people think of the topic, they immediately think of autonomous trucks, particularly when considering superior products like Tesla Semi.
Tesla Semi, but that isn’t without issues to be overcome because of the unpredictable road conditions of the real world.
Read: 3 Ways to Ensure Security for IoT Edge Device Processors
What is happening today is autonomous storage, from autonomous forklifts to picking arms, and even shelving systems, which eventually intend to replace completely the work that humans perform in these warehouses, with a myriad of benefits for those who are likely to be the first to adopt it, despite the high turnover of staff as well as industrial disputes and an extremely competitive labour market.
It is widely known that Amazon’s entire business model is built on its position as the first to adopt in this field. As of June 20, 2022, Amazon Robotics deployed over 520,000 machines in its warehouses and distribution centres all over the globe.
#4: Monitoring Applications
IoT is used in many monitoring applications, from desk occupancy to weather and compliance with legionella. However, what needs to be utilized is monitoring technology that can make autonomous choices to increase efficiency.
The advancement of Artificial Intelligence (AI) and machine learning technology, in conjunction with the increased capacity for data of IoT, opens the way to fully autonomous monitoring, eliminating the need for unnecessary alerts and preventing any interruptions to the necessary process or services.
Read: Impact of IoT on The Agriculture Industry
#5: Enhanced Security
Security has become a growing issue for IoT. When developing the first applications, security was a blunder second-guessing factor.
As systems are expanded and refined, new vulnerabilities are discovered, which create more openings for hackers to exploit. That means cybersecurity has become and will continue to be the primary concern for IoT.
In both new and old tech and existing technology, there will be a strong focus on security-first design, connectivity, and the integration of older systems.
New Focus on Business-Critical Solutions
The excitement in IoT and the continual push to keep up with the times have resulted in a lack of use.
With the pressure on budgets and technology evolving and advancing, the necessity of identifying essentials for Business IoT Solutions is driving to the forefront.
We’re expected to see an increased determination to find IoT that can transform. Managers will have to be asking questions about expected ROI. This profit margin will be generated by the new versus current technology, its resilience and compatibility with existing technology, and who’s accountable when something goes wrong.
Managers should remain focussed on the essentials in their businesses when evaluating IoT solutions to avoid excessive spending on new features. Despite the ups and downs of the last couple of decades, IoT adoption remains a primary concern for many companies.
Business owners must be aware of their IoT investments. Knowing the 2023 IoT trends could be a great place to begin.
