Experts predict that by 2023, a whopping number of over 10 billion internet-connected devices will be utilised globally. These devices, also commonly referred to as ‘smart gadgets’, consist of a diverse range of appliances such as thermostats, slow cookers, security systems and even complete integrated systems, culminating into a massive network system.
Ever since Kevin Ashton first proposed the notion of the ‘Internet of Things’ back in 1999, it has transcended from a mere concept to a global phenomenon. A lot of us incorporate it into our everyday lives without fully recognising the immense possibilities it offers. As per the latest findings from Statista, it is anticipated that investment in the Internet of Things is set to hit an unprecedented $1.1 trillion by 2023.
The Internet of Things (IoT) has experienced an exponential surge globally and is considered to have tremendous potential for future expansion. Despite the uncertain roadmap for this breakthrough technology, there are five predictions that await us in 2023.
Enhanced Safety Measures
The Internet of Things (IoT) generates an enormous volume of data every day, providing corporations with an excellent chance to expand their customer base and enhance their services. However, this data could also be obtained by malevolent individuals striving to take advantage of security weaknesses, which could result in a breach of customer safety.
With the rise of cybercrime, it is projected that both corporations and software developers will prioritise security in 2023. Criminals have a range of avenues for attempting to breach IoT devices and systems, such as operating with obsolete software and unencrypted data. To prevent such threats, IoT-focused enterprises will be investing in innovative solutions to safeguard their consumers and products.
Corporations will be increasingly dependent on network administrators and operators to handle the networked system. Moreover, ethical hackers, commonly known as white-hat hackers, will be enlisted to locate and resolve security loopholes.
To assuage customers’ concerns and regain their confidence, corporations will be intensifying their endeavours in marketing and advertising IoT products.
More Extensive Usage Across Multiple Domains
The Internet of Things has already had an influence on several sectors, and it is projected to become a critical resource in some fields while expanding into others in the approaching year.
The industrial applications of the Internet of Things (IoT) are diverse and vast. Implementing sensors can help anticipate potential machinery breakdowns and take necessary preventive measures. Additionally, the data gathered can be leveraged to enhance employee productivity and efficiency.
Simultaneously, executives and workers can be notified about factory safety and other concerns via the utilisation of wearable technology.
The healthcare sector holds great potential for IoT development. Wearable devices that monitor vital signs like heart rate and blood pressure have become increasingly prevalent in recent times. Smart sensors can be employed to adjust the level of light and heat according to individual patients’ requirements. Furthermore, telehealth technologies facilitate remote patient monitoring and evaluation.
Online learning has witnessed steady growth in recent decades. Today, with the advent of cutting-edge technologies like Augmented Reality (AR) and Virtual Reality (VR), the Internet of Things (IoT) is scaling previously uncharted heights. The IoT provides a foundation for these technologies, allowing pupils to become ‘engrossed’ in a variety of disciplines such as science and history.
Analytics Must Be Employed More Often
The IoT produces massive amounts of data. Today, corporations are utilising this data more than ever before to inform their decisions.
Integrated analytics can be used by corporations to incorporate insights from IoT data into their decision-making procedures. By merging this data with other sources, executives can hasten and enhance their data analysis with the assistance of three pivotal technologies.
As a result, corporations will be capable of improving their algorithms and sustaining networks and devices in the Internet of Things.
Evolving into a Smart City
Smart cities are a notion that has been envisioned in science fiction, with Singapore, Helsinki, and Zurich leading the way in 2023. It is anticipated that the coming year will witness the addition of additional cities on this list.
Integrating sensors and other technology-driven devices helps reduce expenditures, enhance environmental sustainability, and link various equipment and systems; all of which play a role in the growth of a “smart city.” This infrastructure is developed to amplify municipal operations and enhance the residents’ quality of life. Fundamentally, the Internet of Things (IoT) is applied to produce and collect data on the city’s functioning.
As per Statista’s report, worldwide spending on smart city initiatives is expected to soar to $189.5 billion by 2023, which marks a substantial rise from the anticipated $81 billion spent in that same year. This is likely to spur on the prompt adoption of smart city projects in the years to come.
Emphasize Long-Term Sustainability
The amplified emphasis on sustainability campaigns in recent times, which endeavour to decrease wastage and carbon emissions to create a greener planet, has been extensively recorded.
The general consensus is that technological advancements contribute to mankind’s continually expanding ecological impact. Nevertheless, the Internet of Things (IoT) can bestow upon sustainability initiatives considerable benefits. Devices such as sensors integrated into vehicles and thermostats can assess carbon consumption, empowering individuals and corporates to make well-informed decisions that diminish their carbon footprint. Further, smart lighting can be employed to conserve energy, since these devices can be scheduled to switch off automatically at specific times.
When analysed impartially, this may not seem like an incredible achievement. Nonetheless, this is not a small-scale undertaking; rather, it is a worldwide movement. In 2023, there will be a significant increase in the acceptance of smart gadgets by both individuals and corporates to minimise their energy usage and waste production, coupled with the introduction of pioneering technologies that will empower people to make more environmentally-friendly choices in their daily routines.
The Internet of Things (IoT) has emerged as an immensely invaluable resource, facilitating us to accomplish feats that we would have thought unattainable previously. It has enabled us to link people and devices, curtail costs, uplift efficiency, and so much more. Thus, there do not seem to be any indications of this advancement slowing down anytime soon.
To clarify, this is by no means an exhaustive enumeration. In 2023, it is probable that we may witness this state-of-the-art technology employed in ways that leave us awe-struck.