27 Jun The Latest IoT Trends
The Internet of Things (IoT) is a system of interconnected and interrelated computing devices, mechanical and digital machines, objects, animals, or people that are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. The Internet of Things has become an increasingly growing topic of conversation both in the workplace and outside of it. It’s a concept that not only has the potential to impact how we live but also how we work. What are the latest IoT Trends that should get you excited for the future?
The “Internet of things” (IoT) is becoming an increasingly growing topic of conversation both in the workplace and outside of it. It’s a concept that not only has the potential to impact how we live but also how we work.
A “thing” in the Internet of Things can be a person with a heart monitor implant, a farm animal with a bio chip transponder. Or an automobile that has built-in sensors that can alert the driver when the pressure of the tire is low. It can also be any other natural or man-made object that can be assigned an Internet Protocol address (IP address). That provides the ability to transmit data over a network.
IoT has evolved from the convergence of wireless technologies, micro-electromechanical systems (MEMS), micro services, and the Internet. This convergence has helped break down the walls between operational technology (OT) and information technology (IT). Allowing unstructured machine-generated data to be analyzed for insights that will drive improvements.
Internet Protocol version 6’s (IPv6) huge increase in address space is an important factor in the development of the Internet of Things. IPv6 came into existence in 1998 with the sole purpose of taking over and replacing IPv4.
IPv4 which is the previous standard, consist of four number strings – each containing three digits separated by dots. A standard IPv4 address is 32-bit and looks something like 255.255.255.255, which allows 4.2 billion unique IP addresses. With wireless and network-attached devices increasing rapidly each day. it was expected that by 2010, the internet would have exhausted all unique IPv4 addresses. To come up with a new standard of network layer protocol that allows more unique IP addresses to be created, the IPv6 was standardized.
IPv6 protocol, which is 128-bits, consists of eight numbered strings, each containing four characters (alphanumeric), separated by a colon. This gives an unprecedented amount of unique IP addresses: 340,282,366,920,938,463,463,374,607,431,768,211,456 to be precise. It also assures that we will not run out of unique IP addresses to assign to new devices anytime soon.
The Latest IoT Trends
The Internet of Things – A concept that not only has the potential to influence how we live our lives but also how we work or create business with one another, here are some IoT Trends to look out for in the future:
Increased popularity of Smart Home Devices
These devices would become unbelievably popular in the future. As they become highly intuitive and innovative, extending to not just home automation and comfort. But also home security and the safety of your family. Another big driver of the IoT smart home adoption is the need for energy saving. Smart thermostats and smart lighting will help conserve energy and keep the bills down.
Edge Computing will overtake Cloud Computing
Edge computing is a mesh network of micro data centers that process or store critical data locally. And push all received data to a central data center or cloud storage repository. In a footprint of less than 100 square feet. This means that instead of sending all the data from the IoT device to the cloud. The data is transferred to a local device situated closer to the IoT device or on the edge of the network. This local storage device can sort, filter, and compute the data. And then send all or just the portion of the data to the cloud, reducing the traffic to the network.
Increased IoT Adoption in Healthcare
The internet of medical things could be expected to grow at a compound annual growth rate of 26.2%. And will reach $72 billion by 2021. Devices like sensors, wearable devices, medical equipment, health monitors and a plethora of other medical devices is set to be connected with IoT. Mobile health applications and virtual assistants to monitor patient health at home. Smart wearables and implants that communicate patient parameters. Smart cars that monitor patient vitals in transit and a host of other smart connected devices are set to reshape the healthcare industry.
Security will be a bigger priority in IoT
As of now, not all IoT devices come equipped with the kind of security features laptops and PCs are equipped with. In the coming years, machine-to-machine authentication will get layered. Also biometric logins will become the norm. As well as AI (artificial intelligence), machine learning, and big data techniques will be used to identify and thwart data breaches.
AI and Big Data
The convergence of AI, IoT, and Big Data will give rise to a wave of next-gen applications and advancements. Advancements in artificial intelligence in recent years are enabling developers to uncover hidden relationship between data which results in significantly facilitating data analytics processes using minimal data input and resolving big data performance issues.
Major adoption of IoT Trends in several industries
Industrial asset management, fleet management in transportation, inventory management and government security will be the hottest areas for IoT growth. With increasing connectivity between people, data, and things, the public sector will begin embracing smart cities, where sensors and automation enhance the reliability of services, especially in the areas of safety and environment.
Next Generation Manufacturing
IoT will facilitate the emergence of next generation manufacturing. Manufacturing in the age of IoT will involve smart factories which would drive the next industrial revolution. IoT technologies are connecting new devices, sensors, machines, and other assets together. While Lean Six Sigma and continuous improvement methodologies are harvesting value from new IoT data. Early adopters are already seeing big reductions in equipment downtime (from 15% to 95%), process waste and energy consumption in factories.
The Creation of a Digital Twin
A digital twin is a virtual doppelganger of the real-world thing. The Digital Twin serves as a looking glass into what’s happening within the physical assets. The Digital Twin visualizes the hidden insights and dependencies of usability, traceability, and quality. All of these will eventually be part of the operations revolution. Ultimately, the Digital Twin accelerates the product development timeline at reduced costs. As the digital counterpart of a physical product, the Digital Twin allows product developers to create, test, build, monitor, maintain, and service products in a virtual environment.
Widespread adoption of Blockchain
Blockchain will play a major role by enhancing security, making transactions more seamless and creating efficiencies in the supply chain. Blockchain can help build trust between people and parties that transact together. The indelible record of transactions and data from devices stored on the Blockchain provide proof. As well as command the necessary trust for business and people to cooperate. IoT and Blockchain would also enable participants to reduce monetary and time commitment costs by removing the “middle man” from the process. Transactions and device data are now exhibited on a peer-to-peer basis, removing most legal or contractual costs. IoT and Blockchain would also enable more transactions overall because there is reduction in the time needed for completing legal or contractual commitments through smart contracts.
Increased adoption of Software as a Service (SaaS)
More companies will choose the SaaS approach to quickly create and prove out a variety of IoT scenarios at lower investment levels. Companies and organizations will realize benefits more quickly. SaaS gives companies the option to be up and running in hours, not months or years. There is also a lower cost of entry because IoT and SaaS implementation makes it easier to start slowly and grow a solution over time. There is also greater flexibility, SaaS enables companies to push IoT projects further or to try multiple scenarios.
Personalized Marketing Platforms
Thanks to access to your personal information and overall processing of a great amount of data. Marketers will be able to place personal advertisements on mobile phones or other platforms depending on user behavior and profile. Such an approach will transform the relationship between the user and product owner. As more attention will be paid to user needs and business owners will be empowered with a lot of information about the customer.
These have been some of the IoT Trends that will dominate the IoT ecosystem and impact our lives in the coming years. Both consumer and industrial IoT will see great advancements. As well as an increase in the number of connected devices that were but the whims of a few tech savvy people will now become commonplace. New technologies will emerge and would make IoT into a more intuitive and user friendly system. The future ahead is definitely a promising one and certainly worth looking forward to.
Visit www.xyzies.com for more information about the Internet of Things and how you can start using it.