The concept of IoT, which is a mainstream trend now, wasn’t heard a decade ago.
Seemingly, the market size is estimated to reach the 1.6 trillion mark by 2025. Entrepreneurs and businesses all around the globe are in a lookout for opportunities to nail their market share.
Hence, in this article, we will explore the IoT trends of 2020 and beyond, which would act as a gauge for businesses looking for a widespread platform to expedite business expansion using time tracking software.
Smart Cities and Intelligent Transportation Systems will be among the first to be realized as IoT gets mainstream. The year ahead will witness the inception of tremendous IoT applications, which will be directed towards improving environmental conditions and enhancing urban pecuniary.
The IoT-enabled technologies are spending massive efforts towards smart cities, which is anticipated to reach over $80 billion by the end of 2050, thus improving the living standards and also simultaneously maintaining sustainability.
2. The Amalgamation of Blockchain for IoT Security
With the increased necessity on the security end, the amalgamation of IoT and Blockchain seems to have a special attention time span. There are some issues that IoT faces that have been adversely focusing on the overall growth of IoT trends for its mass adoption, such as high cost and security. The majority of these issues can be traced back to the centralized network of things.
3. Improved Customer Service
There are several use cases where IoT can be leveraged to reshape the way the BPO industry has been working. Customer experience with the dominance of time tracking software will soon become more personalized, and hence better in terms of quality and turn-around-time.
The amalgamation of both is what would help in achieving seasoned, channel-enabled customer experience, which seems like a necessity of every modern-day business.
4. Integrated IoT-based framework
The emergence of time tracking software will pose a challenge to users who have been long involved in the IoT industry unless they have incorporated IT framework.
The reason being that most of the companies are working around a shareable central platform, thereby affecting the adoption process to a large extent.
You can resolve this issue with the use of Blockchain-driven techniques, considered to be one of the major IoT trends with the emergence of time tracking software in 2020. The blockchain-driven ecosystem will bring all your data in one place with a decentralized operational model where the information will not be handled in any particular entity.
5. Smart Home Automation Systems
People who have discarded smart homes in the form of devices are now finding it difficult to ignore the capabilities of the technology that comes into action with the usage of time tracking software. However, it has immensely started with balanced growth.
It is expected that demand for smart automation home devices will see a sharp rise in the year ahead. Hence, the demand will increase the requirements for the manufacturing of interconnected electronic devices, time tracking software, and smart gadgets.
6. Use of Edge Computing
IoT devices have heavily relied on cloud-based platforms for data storage preferences. However, the IoT app development industry has now tracked the implications of utilization, calculation, storage, and analysis of data to a certain time limit.
Likewise, they are demanding that apart from sending the data from IoT devices to cloud platforms, the data should be initially transferred to the local device, which is placed closer to the network edge. Hence, this local storage helps users to sort, filter, calculate, and send a portion of the data transmitted to the cloud through time tracking software.
Thus, this reduces the rate of traffic passing through the destined channel of the network system.
It is apparent that Edge Computing provides a wide range of benefits to IT companies and software houses, which makes it one of the fast-growing trends of IoT using time tracking software and AI apps. The benefits of edge computing are discussed below:
- Effective Management of a large amount of data which is required by every device.
- Decreased dependency on cloud-based platform, which helps apps to perform faster with less latency.
- IoT enabled mobile apps use less bandwidth.
7. Emergence of SaaS
It seems impossible to talk about technology without highlighting the advances of cloud computing in the umbrella of IoT. Making data accessible in real-time unlocks a new range of possibilities such as SaaS - Software as a service.
SaaS will find itself getting explored by the number of businesses as part of IoT based trends in 2020.
8. Tracking Location and WSNs
The major improvements across IoT will pave the way towards effective location tracking with the help of wireless sensor networks.
As 5G technology gets more involved in networking, the transfer abilities will get a tremendous boost. Wireless sensor-enabled devices can be used to develop drones and virtual assistants that can further utilize object recognition to identify ground threats (in the military) and medicos to diagnose tumors.
9. Improved Security Concerns
The adoption of the IoT network requires a suitable IoT enabled platform. As the network expands, so does the risks of an attack. The most common cyber attacks experienced by most of the companies are Phishing, Network Intrusion, Lost Devices or Records, System Malfunctioning, and Accidental Disclosure.
The increased use of IoT tools and technologies must be accompanied by massive enhancements to IoT enabled security awareness and training concerns with the enticement of time tracking software. By 2020, we will have moved closer to witnessing a complete machine to machine authentication. The biometric logins shall also become a norm, and technologies such as big data, machine learning will eliminate data contraventions.
10. The Amalgamation of AI, Big Data and Machine Learning
Once there was a time when the goal of IoT was to gather incoming data from multiple sources.
Today, the aim is not just to collect but also put the data to definitive use.
The implementation of next-generation technologies such as Big Data, AI, and Machine learning will shape the trends and implications of IoT in the upcoming era. Hence, by using the data analytics tools in the connected devices, businesses will be able to maintain decisions around both predictable and preventable measures of the said issues.
11. Improved Predictive Maintenance Techniques
With the rise of next-generation manufacturing tools, people will make the best use of the built-in sensors and advanced programming techniques to perform predictive analytics and sensor forecasting of the associated issues.
Smart cash points will also come into existence with connected vending machines that would immediately allow customers to take a loan, accepts deposits, transfers cash, taking into consideration the customer's CIBIL and other financial transactions collected over time.
The presence of data to predict customer behaviour will not only put an end to random guessing techniques that have existed so far, but also lead towards the preventative maintenance strategies.
It will enable software developers to schedule and then induces maintenance trends when the machine doesn't correspondingly respond.
Industries that will adopt IoT in 2020 and years ahead
It has been predicted that several industries will observe redefining their IoT processes, although few technologies will become a fore-frontier when the emerging trends in IoT are clearly defined conservatively.
Consumer Electronics Trends
The entire functionality of the IoT-based ecosystem merely depends on the interaction of devices. However, there exist several IoT based consumer devices that are operating in the marketplace. Likewise, it is expected that this will require the handling of immense data in the upcoming timeframe. Hence, we have highlighted some types of devices that will be a mainstream trend in the years ahead.
- Next-generation locks are used to secure homes, vehicles, and other classifications of personal things.
- Smart, automated appliances that are used to regulate power consumption.
- AI-based thermostats are used to adjust room temperature based on the weather conditions.
E-Commerce & Online Retail Stores
The trends of IoT in the retail industry will easily witness the industry’s physical and E-commerce dealings to get combined in a visual store and E-commerce app development company to build online mobile apps for retailers and target consumers. Apart from visiting the stores, target consumers will soon be able to try on outfits at home with the controlling aspect of Virtual Reality.
The grocery industry will also witness an overhaul with the changing needs of IoT enabled food consumption needs, farming aspects, and the overall supply chain management trends. The upcoming time will witness a single dimension medium for retailers that will be based on the emerging technologies of IoT.
Seemingly, the manufacturing industry is one of the major concerns that will get affected by IoT. The manufacturers across the globe have already started investing in embedded devices to monitor assets and equipment.
The most commonly used technology is known as “smart manufacturing.” Hence, the usage of IoT devices will constantly improve the productivity and efficiency of the entire manufacturing operations and functionalities.
Hospitals and Healthcare
The Implementation of IoT trends in healthcare will focus on every single aspect of the particular sector. The healthcare industry will have an effect not just on the software side but also on the hardware systems involved in the industry.
With the enhancements of the latest technologies that have given rise to new healthcare products like wearable devices, telemedicine systems will enter the marketplace and it will allow customers to track their health. Furthermore, the future of healthcare will witness numerous hardware, enabling medical personnel to monitor the healthcare records of staff and patients with the help of medical equipment.
In a nutshell, IoT trends are booming around the globe. You will still need someone to help you to gain hands-on experience of IoT gadgets possessed in the IoT sector. The notable advancements are striving professionals to build massive technical stuff such as responsive websites and mobile apps for E-commerce app development company. Hence, IoT is playing a vital role in several industries like healthcare, business, and banking.