IoT 2024: Navigating the Future with Emerging Trends and Technologies
Published on : Thursday 01-02-2024
The integration of key technology trends like 5G, AI, and edge computing with IoT, indicates a vivid and transformative period.
The incredible growth of the Internet of Things (IoT) made it a game-changer for digital transformation solutions, enabling a smarter and more connected world. The year 2024 is looking forward to bringing compelling trends and technologies in the IoT landscape.
In this blog, let’s explore the growth of IoT, the latest trends and its significance, indicating real-world use cases, and finally, envision the future of IoT.
The influence of IoT evolution
The key stage of IoT evolution was the rise of tiny sensors or smart devices such as smart watches, and medical wearables that collect data in real-time, facilitating instantaneous decision-making capabilities. This evolution has highly influenced healthcare and Industrial IoT (IIoT) applications. As per Statista’s report, this transformative technology will be widely adopted, supporting massive connectivity above 75 billion devices by the year 2025.
With the advent of IoT, Industry 4.0 is revamping the manufacturing industries with a more connected and productive landscape. The development of smart factories and plants embraces IoT technologies to realise predictive maintenance and production optimisation. This boosts production efficiency and improves resource utilisation.
However, the increase in the number of devices leads to the generation of massive volumes of data from these devices. It becomes a challenge to handle these huge volumes of data, which is vital for intelligent decision-making in IoT applications. The integration of certain inducing technologies such as 5G, sustainability, edge computing, Cybersecurity, and Artificial Intelligence (AI) plays a significant role in shaping the next phase of IoT development. Let’s probe into the key IoT trends in 2024.
Edge computing
The migration of computing capabilities near where the data originates is stated as edge computing. Edge is making the cloud at the source possible. Storing and processing data close to where the application runs is necessary to realise faster processing power, reduced latency, and optimised bandwidth utilisation. Enterprise focuses on storage-as-a-service solutions augmenting edge and cloud computing techniques to enhance the efficiency of IoT applications, making them much faster, reactive, and reliable.
5G integration
One of the key use cases of 5G, massive Machine Type Communication (mMTC) enables massive connectivity of billions of devices to the network, facilitating large-scale IoT deployments. Technology providers focus on cutting-edge networking and 5G technologies such as SD-WAN, Open RAN, network slicing, Private 5G, and telco cloud solutions to unlock innovative business transformation with IoT in the future. The integration of these pivotal technologies can deal with any complex networking operations.
AI and machine learning
To realise distinct and high-performing IoT applications, it becomes important to make the devices smarter and more intelligent. The use of AI/ML techniques in IoT makes devices more adaptive which helps to analyse and collect significant insights from huge volumes of data generated in the network, optimising the network performance. Organisations utilise these techniques to support managed analytics for proactive and preventive actions against any cyber-attacks and to automate the services.
Cybersecurity
The proliferation of IoT devices also enhances the vulnerabilities to cyber-attacks. These tiny IoT devices need to be highly secured to prevent upstream attacks on the network. Proper security strategies such as the usage of advanced encryption techniques and continuous data monitoring are necessary to detect any anomalies in the network.
Sustainability
Sustainability has become one of the top priorities for technology enterprises. The increase in massive IoT deployments leads to increased energy consumption and higher usage of resources. It is necessary to create eco-friendly solutions which can reduce the carbon footprint realising a sustainable future. IoT deployments should focus on efficient energy and resource management strategies to create a greener sustainable world.
By leveraging IoT technologies, many real-life use cases can be realised. Especially, as mentioned, IoT is gaining traction in various verticals such as healthcare, agriculture, industrial automation, and more. Smart cities, precision farming, and telemedicine are promptly turning into a reality with IoT. The use of IoT devices such as drones, sensors, and automated machinery enables real-time data gathering for updated decisions, realising efficient and sustainable solutions.
Conclusion
The integration of key technology trends like 5G, AI, and edge computing with IoT, indicates a vivid and transformative period. The influence of IoT on diverse industry verticals highlights its capability to create an efficient and smarter world. However, certain challenges persist in terms of vulnerabilities and security in IoT deployments. To guarantee proper IoT deployments, the incorporation of different players such as enterprises, technology providers and government becomes pivotal. The year 2024 is foreseen as the start of a smarter, more intelligent, and more sustainable IoT era.
Article Courtesy: NASSCOM Community – an open knowledge sharing platform for the Indian technology industry: https://community.nasscom.in/communities/digital-transformation/significant-iot-trends-and-technologies-2024
This article is attributed to Calsoft, Inc. To know more details, visit:
https://www.calsoftinc.com/coes/internet-of-things-iot-services-and-solutions-enterprise-iot/
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