The Internet of Things (IoT) is growing as a popular choice amongst business owners. The prospects in the emerging IoT technology will continue in 2022 and beyond, with tens of billions of internet-connected devices around the world, ranging from everyday household products like Google Home or wearables to industrial applications.
The global IoT market is expected to exceed $520 billion next year, according to Statista, and demand for IoT-connected items is showing no signs of decreasing. The market’s size isn’t the only thing that’s expanding. Cisco estimates that by 2022, there will be 27.1 billion networked devices, up from 17.1 billion in 2016. That equates to 3.5 linked devices per person globally. In 2022, mobile connectivity will account for 43% of the 27.1 billion networked devices. This reflects a significant change in how people go about their daily responsibilities, whether at home or at work.
The global epidemic of COVID-19 has surely expedited the development of IoT technologies. Enforced working from home has led to increased IoT development of products that can monitor systems remotely, allowing for safer pandemic work practices while allowing production to continue.
With many countries remaining on high alert, there is still a lot of uncertainty across the world, which is driving IoT development of connected products and devices to solve a variety of problems and ensure that people can operate in a safe environment.
Also read: Top IoT Trends for 2021
Top IoT Trends of 2022 & Beyond
Without a question, the Internet of Things concept has quickly acquired global popularity, and its market is growing at a rapid pace, demonstrating its actual promise to every business area throughout the world. Entrepreneurs and industry participants are relying on the emerging IoT technology trends to improve process efficiency, reduce costs, and provide rich user experiences.
Despite the fact that IoT technology is still in its infancy in many sectors, its overall impact on key companies throughout the world is enormous. We can anticipate a slew of IoT developments, transformations, and new ideas in the IoT development sector in 2022 and beyond that will astound market participants.
- Smart City Solutions – Smart cities are no more a concept of the future, all thanks to the emerging IoT technology. We’ve all heard of government agencies launching IoT projects with city-wide implications in recent years. IoT devices such as connected sensors, meters, and lights are being used in smart cities to collect and analyze data. The information acquired is then used to improve infrastructure, public services, and utilities, among other things.`
- Blockchain Technology in IoT – This helps in addressing the persisting security issues and ensuring improved data security. Blockchain technology will ensure high data protection across the IoT devices. Furthermore, blockchain technology allows for efficient communication between multiple network nodes and safe recording of successful transactions in immutable chains. Integrating blockchain technology into IoT ecosystems offers long-term transparency and gives IoT devices, platforms, and applications with a decentralised and scalable environment.
- 5G and Internet Of Things – Wireless connectivity is a key component of most IoT development systems, with increased reliability and connectivity resulting in higher IoT device performance. The 5G network can help Internet of Things ecosystems realise their full potential. Lower latency data transmission, universal coverage, and fast transmission speed are all features of the contemporary generation network. This can assist enterprises and governments in providing enhanced IoT services with real-time data processing and rapid reaction obligations.
- IoT In The Workplace – IoT is a boon for business owners, given the expanding safety rules for employees during the pandemic. Business owners can use RFID tags or sensors to ensure that each employee washes their hands, while also enforcing safety and health rules in the workplace. Computer vision can also be used to determine whether or not employees are wearing masks.
- Connected Healthcare – People have taken a step further by adopting linked healthcare solutions in the form of smart wearables for health monitoring and disease management. Smart wearables and sensors have been widely adopted by patients to assist them in keeping track of their chronic diseases. People are predicted to use smart wearables and digital health gadgets in the next few years as a result of their affordability and ease.
- IoT & Data Analytics – The Internet of Things is no longer just about tracking behavior and disseminating data. It’s all about fast analyzing data and generating recommendations (or taking actions) based on the results. This is due in large part to the IoT’s ability to work with AI and ML technologies to quickly process the massive volumes of data it receives. Take, for example, Honeywell’s new Connected Life Safety Services (CLSS), a cloud platform that assists fire specialists in reducing the time required for life safety system design, installation, commissioning, inspection, maintenance, and reporting. It does more than merely collect data. It combines it in order to produce intelligent and well-informed recommendations and conclusions.
The most well-known companies in the IoT field are cloud service providers. AWS (Amazon Web Services) and Azure (Microsoft Azure) are well-known big corporations. In 2022, the number of partnerships for IoT development will also rise. Brands that demand more than just cloud services transformation will require a hardware partner to ensure that IoT devices meet both consumer and business requirements.
The threat of security is one of the most serious worries about the deployment of huge numbers of IoT connected items. Security is frequently disregarded in the haste to build solutions to fulfil demand, resulting in points of weakness, particularly in commercial networks but also at home.
Also read: 10 Most Popular Smart IoT Devices in 2021
Every device linked to a network has the ability to act as a network gateway, and with the possibility of vast numbers of devices connecting to business networks without the awareness of network administrators, keeping cybersecurity standards up to date is becoming increasingly difficult.
Apart from security, a number of other factors are influencing the application and effectiveness of IoT technology, including:
- User safety
- Return on investment (ROI)
We’ve seen the Internet of Things (IoT) and its limitless potential grow in recent years. With a pandemic-fueled 2020, the digital revolution progressed quickly, and IoT seems destined to extend its roots in our lives and industries, thanks to increased connection, thanks to 5G and faster WiFi, and breakthroughs in AI and machine learning. As we get closer to 2022, we’ll see not only more IoT growth but also more IoT use cases and trends.
The emerging IoT technology is providing many exciting opportunities, both for businesses and consumers. We are now seeing increased levels of trust in IoT development, which is fueling the growth, thanks to developers placing a far larger emphasis on security. Have an IoT project idea in your mind? IoT development experts at Appinventiv are there to guide you throughout your business idea and develop a next-gen IoT solution that actually increases your business and improves your customers’ experience in this digital era.