THE FUTURE OF IOT: WHAT TO EXPECT (INNOVATIONS IN THE NEAR FUTURE)

We live in a period of intense and concentrated technological change, so sometimes we lose awareness of how quickly things around us will change in the future.

If we consider the life-changing technologies that we interact with every day, many of these technologies probably only appeared on the market ten or twenty years ago. In the past two decades, mobile phones, computer hardware, and big data analytics have made great strides. Now these technologies are combined to support a new type of device that will completely change the way companies calculate: the Internet of Things (IoT). The Internet of Things device includes any computing device that can connect to the Internet or the cloud using wireless communication protocols to transmit or share data. In this blog post, we discuss the adoption and expansion of IoT that will affect technology in the future.

Now or Never

The IoT represents one of the strongest transformative influences on the tech landscape today, with impacts on industry verticals that include manufacturing, aerospace and defence, autonomous vehicles, smart cities, connected health care applications, and more. To quantify the impact of the IoT, we can look at adoption rates for IoT devices as well as projections for future growth. Future IoT technology trends will help facilities get maximum efficiency and productivity out of their equipment and manufacturing components. This will translate into immense economic value for industries that adopt IoT. The evolution of IoT will bring further improvements in mass personalization, virtual prototyping, cybersecurity, vehicle-to-everything (V2X) connectivity, and healthcare. With analysts generally in agreement about the huge positive growth trajectory of the IoT, it begs the question: where will all of these devices be deployed? Who will benefit? IoT devices are already being deployed in industrial, commercial, and residential contexts. While some of these applications are already delivering significant economic benefits, other areas of IoT application are still in their developmental infancy. Now that we know there is a lot to look forward to, lets take a look and try to understand a few challenges, concerns and upcoming trends.

A safety concern?

Whenever new tech arrives, there always are hackers ready to take advantage of its possible weaknesses. IoT is still evolving, and that makes IoT devices fitting targets for hackers. This is exactly why improving the security of connected devices is one of the top IoT technology trends. As of now, IoT professionals are doing this by:

· Ensuring the integrity of multi-device networks

· Enhancing the security of communication channels

· Improving software reliability

· Implementing the security by design approach

Naturally, making IoT networks reliable and secure is a multi-faceted process that goes beyond these practices. An IoT network might contain sensitive information about a facility, its assets, and employees, so it has to be secure. Security is also a critical issue for smart home systems and voice assistants that collect and store information about users. Cybersecurity is essential for the private sector, large-scale manufacturing, shipping, and public service, which makes it one of the biggest Internet of Things trends.

Edge computing — A reliable way to store your data

We’ve only just gotten used to keeping our data in the cloud, and it’s already time for a change. Simply put, edge computing allows connected devices to share, calculate, analyze, and keep data locally. Edge computing is a kind of hybrid approach to data processing that’s reshaping the future of IoT.

Considering how IoT is spreading into different areas of our lives, we must make sure all connected systems function flawlessly. The need for security will make hybrid data storage especially relevant for sensitive and vital systems like autonomous vehicles and industrial equipment networks where lags can lead to injuries. For instance, whenever an employee enters a restricted or potentially dangerous area, machinery should stop immediately. This is where edge computing comes in. It allows a system to transmit data and make critical decisions fast, making sure the system works fluently and without breakdowns.

The age of voice controlled devices is here

With the ongoing COVID pandemic, we’ve realized that touching things left and right might not be the best idea. This, as well as a matter of general convenience, calls for a shift towards voice-controlled interfaces. From no-touch ATMs to voice control panels at large industrial facilities, voice tech is already changing the way we interact with objects around us.

Of course, voice-controlled devices raise privacy and security concerns. Some of the main apprehensions relate to voice payments and other financial transactions. This takes us back to enhanced IoT security as one of the major IoT trends. IoT systems will become more secure, so today might be the right time to explore new possibilities.

SMART RETAIL AND IoT

IoT devices have entered retail spaces around the world. Merchants in a variety of retail segments are using RFID inventory tracking chips, infrared foot-traffic counters, cellular tracking systems, and a range of other IoT technologies to drive improvements to the shopping experience and reduce their operating costs. Applications of IoT devices in the retail space include:

Predictive equipment maintenance and smart power systems that reduce store power consumption and reliably anticipate the maintenance needs of business-critical equipment like grocery store freezers, warehousing machinery, and temperature control systems.

Smart stores that use RFID technology to automatically track purchase orders and bill shoppers for merchandise as they leave the store. This technology was first implemented at the Amazon Go store in Seattle, which offered shoppers the opportunity to walk into a store, grab what they wanted, and pay for purchases automatically upon exiting the store, all without standing in line at the checkout counter.

RFID inventory technology can also change the ways that shoppers interact with items in-store. In the future, shoppers may be able to scan identification tags for a chosen item using their mobile device, gaining access to additional information such as nutrition and product origin along with the ability to pay on the spot.

Connected Vehicles and IoT

The first connected car app appeared in 1996, when General Motors introduced its OnStar product to market as a high-end safety feature that could help drivers remotely access navigation, operation, or emergency medical assistance. Since then, as many other automakers have done, General Motors has partnered with leading technology companies (Motorola Automotive in this case) to enable connectivity.

Since then, we've seen a number of connected car apps. There are functions that provide current traffic information to help drivers get to their destinations faster while optimizing fuel consumption. There are some safety features that use on-board sensors and integrated systems to warn the driver of conditions outside the vehicle. Almost all applications you use on your phone can be accessed remotely in the car. Automakers are currently working with the world's largest technology and transportation service companies to develop self-driving cars that will use IoT and cloud interfaces.

Internet of Medical Things

Medical development can go hand-in-hand with technological advances, and the future of things can lead to positive changes in the health industry. With the on-going Covid-19 pandemic, the world had to re-evaluate the importance of remote health. Safety and security are most important in a clinical environment, and IOT helps improve the monitoring and transmission of patient data. Soon, patients and doctors can not meet directly, it can be very useful in blocking. The Trend of IoT has a significant impact on the health industry, since smart medical devices are more common.

A Few Functions of eHealth devices include the following:

· Monitoring
Devices can monitor your heart rate, blood pressure, and other health markers.

· Emergency response
Devices can send you an alarm and recommendations in case of a medical emrgency and/or call you an ambulance.

· Fitness assistance
Devices can offer general assistance and advice during physical training.

· Reporting
Devices can collect data on your condition and send it to your doctor.

This is just the tip of the iceberg in terms of how new technologies will change the way we treat health. Looking forward to the next few decades, we will see how nanotechnology devices collect data about our condition, report it to doctors, and even heal us on the go. Although this sounds like something from a science fiction movie, this is the future of the Internet of Things, and we must be prepared for it.

Harness AI and Big Data for Better Customer Experience

The era of large-scale, one-size-fits-all production is gone, because now the industry tends to customize its products according to the needs of each specific customer. Super customization adds a human touch to your products. Using big data, artificial intelligence, and machine learning, you can now set new goals, save time and resources, and tap into new revenue streams. Modern customers expect to receive products that really belong to them, which makes mass customization one of the top trends on the Internet of Things.

CHALLENGES OF TODAY

While the future of IoT devices looks promising, there are still a couple of hurdles that have yet to be overcome. The major challenges for organizations developing IoT technology today are:

Security - Many of the earliest IoT devices lacked any considerations for device security, making it surprisingly easy for someone with a bit of specialized know-how to execute cyber-attacks against IoT devices, including home security systems and connected systems embedded in vehicles. The biggest upcoming challenge for the IoT will be securing devices adequately against cyber-attacks to ensure a safe and connected future.

Interoperability - The concept of device interoperability is that IoT devices should follow a common communication protocol that makes it easy to coordinate them with existing devices and technologies. This is especially an issue in healthcare applications where device interoperability issues can mean poor coordination between connected wearables and EHR software systems. For highly regulated industries, IoT manufacturers should work to develop a common standard of interoperability that ensures IoT devices can seamless communication with other devices and information systems in the field.

Product/Market Fit - While the concept of the IoT has many people excited, these are entire industries that have yet to establish a product-market fit that can lead to high market penetration. While some areas like manufacturing have had success with the early adoption of IoT systems, other areas like smart retail have seen little market penetration so far. IoT device manufacturers have the capabilities to architect an amazing world for consumers, but to succeed they'll need to concisely capture user needs and deliver the experiences that consumers want.

A Step Towards Future

The new era of the Internet of Things is approaching, and the new decade will surely bring important changes in the industrial sector and public services. From the way we collect and store data to the way we drive cars, the Internet of Things will change our lives on different levels. Companies must adapt to these changes and adopt new technologies to remain relevant. That is why today is the best time to prepare for the challenges of the next decade and the changes it is sure to bring.