“Any sufficiently advanced technology is indistinguishable from magic.”
-Arthur C. Clarke
In the same sense, the disruptive technology of Internet of Things can also be considered pure magic. It is a modern-day technological innovation that has empowered the creation of an inter-connected world. With its advanced features like telemetry, cognition, and analytics, it has brought a revolution in the industrial segment and our day to day lives.
Nevertheless, the technology is in infancy and still hasn’t reached its full potential. With each passing year, more devices are connecting with each other to create a network that facilitates data sharing among multiple end nodes.
As of August 2019, there were more than 26.6 billion IoT devices in the world. According to Statista, by the end of 2025, this number can increase three folds (see Figure 1). This data shows the magnitude with which our world will change in the future from the implementation of IoT.
(Figure 1: Annual Expected Rise in Connected Devices)
Many industrial experts and analytical firms are trying to comprehend the 2020 trends for IoT that will dynamically transform our lives. As a leading IoT development company, we have also made some predictions for the future scope of this technology.
Let us understand them in detail:
1) Rise of Smart City Solutions:
Since the rise of IoT devices is at an all-time high, more connected infrastructures will be created to support the growth of smart cities. The concept of smart homes and self-driving cars are already shaping our current world. The market size of smart city platforms was slated at USD 104.6 billion in 2018 and is expected to reach USD 223.4 billion by the end of 2023.
Many countries, like Singapore and Boston, has already infused the concept of smart cities. Its solutions are empowering general public surveillance, smoothening the flow of traffic, and expanding utility services to create a hassle-free life for the citizens.
2) Security will be a Primary Concern:
In 2016, IoT, for the first time, witnessed an infectious malware that transformed its devices into a botnet, which expedited a Distributed Denial of Service (DDoS) attack on websites and engulfed them with fake internet traffic.
To prevent such cyber-attacks in the future, more secure and impenetrable frameworks will be developed for IoT devices. Routers and Gateways will be enhanced to provide security features other than basic password and firewall protection. This will help in keeping the data safe and confidential while it is being transmitted, processed, or analyzed.
3) Obligatory Security Regulations:
The rapid transformation in the IoT data security environment can also drive regulatory and legislative activities. Many industrial experts believe that with businesses now adapting IoT systems for the long-term, it would be better to have a regulation that can incur high security in them. This means that the newly developed security systems for IoT will be cross-checked by authorities to ensure their effectiveness in the long run. The inauguration of such an authority is possible given the proliferation of IoT systems in both the industrial and commercial segments.
4) Decentralization of IoT:
In 2020, IoT will blend with other disruptive technologies like Blockchain, AI, and Big Data. IoT and Blockchain-based Smart Contract solutions are already in existence and have proved their capabilities in supply chain and logistics operations.
Blockchain comprehends the limitations of IoT perfectly. Through its advanced encryption and cryptography, it will create a decentralized platform for IoT devices that will keep the data secure from cyber theft or unauthorized interruption. This extra layer of security will sustain the flow of a large volume of data in the future, emitting from billions of connected devices.
5) Increased Adoption in Industries:
Currently, the manufacturing and transportation industries are the two early adopters of IoT technology. IoT implementation in the production segment has resulted in the generation of a distinct terminology for itself called Industrial IoT or IIoT.
In the future, IoT will be accepted more freely by both these industries, and its amalgamation with other technologies will result in better cognitive and automated solutions. Data processing and analysis processes will improve, which will further prepare the technology for more sectors such as healthcare, agriculture, and hospitality.
6) IoT will Invigorate AI and ML
Along with IoT, other trailblazing technologies like Artificial Intelligence and Machine Learning will also bloom. The data gathered via IoT systems will be analyzed via AI and ML algorithms to develop useful insights and actions. While in their industrial field of applications, the technologies will automate processes to reduce downtime and cut operating costs, commercially, their fusion will help wearables and other devices to understand our behavior automatically.
7) 5G will be a Major Driving Factor:
The advancement in the 5G networks will be a strong foundation for the creation of a connected world. It promises high-speed connectivity and the ability to connect multiple devices at a particular instance. Wireless carriers will hop on the 5G bandwagon, and more devices will directly connect to the 5G network instead of a Wi-Fi Router. This high-speed net connectivity will help in the instant collection, processing, management, and storage of data, which will further enhance the adoption of IoT and its products.
On a Concluding Note:
Cutting-edge technologies are reshaping the 21st century. No one knows where these technologies will take us in the future. However, based on recent developments and innovations, it can be inferred that the creation of an interconnected world is inevitable.
In this connected world, the internet will be the medium that will not only connect us but also join machines and devices as such. Day to day tasks will happen automatically, and a rise in self-driving cars will be witnessed. Smart cities will be developed that will not only boast an inter-linked architecture but also provide a lavish lifestyle.
With IoT and other top-notch technologies, a world like this is possible. It will surely be real magic.
