Billions of physical devices around the world are now connected to the internet, collecting and sharing data which basically means any physical object can be transformed into an IoT device if it is connected to the internet. The IoT integrates the interconnectedness of human culture i.e. ‘things’ with the digital information system i.e. ‘the internet’ which makes the “Internet of Things(IoT)”.
IoT is making its impact in almost all the market verticals in a significant way be it healthcare, retail, manufacturing etc as it’s no more a thing of the future but the present and is happening around. With the emerging trends in IoT, the kind of data recorded helps in making smarter and tactful decisions.
Internet of things and machine learning are the two most upcoming rather ongoing concepts in today’s scenario making our lives easier and faster. IoT has been trending so much that it has become the future of how businessmen, governments, and consumers would have been interacting with the physical world.
- Increasing demand for smart devices from smart watches, health, and fitness band to footwears, IoT is going to rule the market as even the non-technicals are aware of the IoT world and inclining towards it.
- Digital transformation drives an extensive need for IoT for building technology-based infrastructures, data-driven decision making to have positive impacts on the business.
- Increased adoption of IoT in the healthcare sector with the expected compound annual growth rate to be 26.2% by 2021. People being more tech-savvy nowadays has increased the IoT adoption in this sector. Mobile health applications to monitor patients health at home, smart wearables, implants to communicate patients parameters etc have given a new shape to the medical world.
- Demand for smart home devices is increasing largely extending not just to the home automation comfort but also the safety and security of the family.
- As IoT adoption increases with the flow, more and more devices are being connected to the internet and a large amount of data floating about, IoT will have to be more secure than ever.
As humans are getting more dependent on technological developments, IoT is going to shape the future of businesses as well as households by 2020. Some of the trends mentioned above are certainly not the complete list for shaping the future of IoT. But it can be said that IoT has transformed the customer experiences to make life somehow fascinating and simpler.
This IoT trend has gathered pace all over the world as the future of the Internet of Things(IoT) looks promising and is said to be the Next Industrial Revolution.