Top 4 IoT Tech Trends to Watch in 2023
The Internet of Things (IoT) is one of the technologies that today has the strongest impact on the digitalization of a wide range of business domains.
17:58 06 December 2022
The Internet of Things (IoT) is one of the technologies that today has the strongest impact on the digitalization of a wide range of business domains. IoT-powered solutions are gradually transforming a lot of processes by making it possible to manage them more efficiently without using too many resources for that. Given the benefits that such solutions can offer, it is not surprising at all that the global IoT market is gradually growing.
According to recent studies, in 2022 the IoT market will be able to reach the mark of over $478 billion. And by 2029, this figure will be already at the level of $2,465 billion which means that a projected CAGR for the period from 2022 to 2029 will be over 26%. The industry still feels the consequences of the coronavirus pandemic but its growth has stabilized. And experts believe that this positive tendency will be observed in the future as well.
The interest in building custom IoT apps is also gradually increasing. Businesses working in different industries have a lot of innovative ideas that are intended for facilitating numerous tasks for them. But for transforming ideas into real products, it is important to establish cooperation with a reliable IoT development company whose specialists are aware of the latest tech trends. This knowledge will help them to build feature-rich apps that will have real value.
In this article, we’d like to tell you about the IoT tech trends that are expected to shape the market in the nearest future.
Trend 1. VR and AR for wearables
Wearable devices play a crucial role in the development of the IoT sphere. Fitness bracelets and smartwatches have become very common devices and sometimes we even do not know about their role in, for example, fitness apps. However, this type of solution also belongs to a group of IoT apps.
Nevertheless, VR and AR are able to change our understanding of the capacities of wearable devices. Today, for the development of such applications, it is possible to use head-mounted displays that will receive various kinds of real-time data. Coupled with AR and VR technologies, such solutions can greatly increase the efficiency and accuracy of the work of professionals from different spheres, including the healthcare industry, manufacturing, logistics, education, and others.
Trend 2. Smart home systems
While some years ago, smart home systems had rather limited functionality and included just a couple of smart devices that could automatically control the lighting in your room or the temperature there, today the number of features that can be built can’t be even named.
What has influenced that expansion of functionality? One of the factors that has a positive impact on this aspect was the development and mass adoption of various digital assistants like Siri by Apple or Amazon Echo. Now smart home solutions can manage and control practically all devices that you have in your flat or house, including but not limited to security systems, kitchen appliances, TV sets, etc.
But there is still some space for further developments. And already in the nearest feature, we will definitely see a lot of new features and opportunities that are intended for making our lives easier. One of the main focus areas in this sphere is the full automation of routine processes. They will be configured not only manually by users but also automatically with the help of AI-powered tools that will analyze users’ preferences and adjust the necessary settings.
Trend 3. Connected systems for the manufacturing industry
The manufacturing industry can benefit a lot from the use of IoT-powered solutions. Thanks to a great variety of sensors that can be applied for automating practically every step of the manufacturing process, enterprises can not only reduce their expenses on labor resources but also increase their productivity by minimizing the risk of errors caused by human factors.
Trend 4. IoT solutions for healthcare
Smart devices enriched with different sensors can bring healthcare services to a completely new level. First of all, such solutions can help doctors to get the most relevant real-time information about the state of patients and their vital parameters even in a remote format. Secondly, thanks to the capacities of modern devices to measure and analyze various parameters automatically, now the chances of providing the necessary help timely are higher than they were earlier. When a device detects a critical level of some parameters, medical staff gets a notification and has the possibility to timely react to it.
The future of IoT technology and its role in different industries are greatly influenced by the trends mentioned above. While in some industries IoT devices are already actively used, in some others like retail we still have to wait to observe mass adoption. Nevertheless, today it is absolutely clear that in the future further integration of IoT-powered solutions will take place within various spheres and many of them will be enriched with other promising technology like AI and VR/AR.