6 IoT Trends That Will Shape The Digital World In 2023

Imagine reaching your office in a driverless car and switching on your laptop just by tapping on the screen. The door opens, and all the electric gadgets start turning on as you enter your home. Your home acts smartly to control all the devices accordingly.

Doesn't it sound like a dream come true? You are living in a world where everything is automated and fast.?

Technocrats and social scientists predict that the Internet of Things will emerge as a new way of life as a result of the increasing number of automated devices in use today. That means 'IOT is the future of technology and human existence would largely depend on it'.

Combining these connected devices with programmed systems will make collecting and analyzing the information to perform a specific task easier. IOT provides services that go beyond machine-to-machine communication and even our imagination.

These smart, distributed, and connected devices will transform today's unconnected infrastructure into intelligent distributed systems, driving disruptive change in almost every industry.

Let's check out some IoT Trends revolutionizing modern world today.

Smart Homes

Do you ever forget to turn off your air conditioner or lights and fans before going outside the home or even after leaving the room.

No need to worry about electricity wastage or rising electricity bills. You can turn your home into a smart one with connected automated devices.

Automated Smart homes have become the talk of the town among tech-savvy people nowadays.

You will be surprised to know that the smart home market will have a CAGR of 25% between now and 2025, allowing the industry to reach a size of $246 billion, as per reports by Mordor Intelligence.?

IoT-based Smart homes have showcased immense potential to automate tasks like lighting on/off, appliances, temperature control, security systems and many more. The tasks are performed automatically using AI algorithms using sensors and data analytics.

?IOT-based home security devices make your homes secure from thieves and fraudulent. Monitored and controlled devices like door alarms, camera and sensors are used in a home automation environment to make your home safe.

With the rise of Smart homes, users can now experience greater convenience and security to the next level. Not only this, the evolution of Google Assistant, Amazon Echo, Apple's Siri and other digital assistants also transformed the smart home industry. IOT gives you the power of interconnectivity among the devices, minimizing the prospect of error and making smart devices work efficiently.

Smart Cities

Do any of you ever think of what smart cities are all about? A city where everything is automated and capturing real insights to generate real-time outcomes.

IoT devices integrated with sensors in different capacities throughout the city to manage multiple tasks, including traffic handling, monitoring waste management, checking street lights, water saving, developing smart buildings and many more. The data collected in the devices are analyzed and facilitate faster decision-making.

The IoT applications permit agencies, city leaders and other stakeholders to monitor, control and manage devices remotely. The applications of IoT technology make several cities efficient in a way that they need fewer resources and have increased energy efficiency. IoT applications make the city intelligent and automated.

For instance, smart streetlights have built-in sensors that detect weather conditions, monitor traffic, and conduct surveillance. Moreover, these streetlights can also be used to control digital street signs. The sensors help in better traffic monitoring and optimization.

Hence, IOT solves your critical problems related to every domain and generates real-time data that improve productivity and operational excellence.?

Smart Supply Chain Management

Tracking your shipments across different checkpoints is far easier now with IoT. The Internet Of Things plays a crucial role in the supply chain industry by seamlessly tracking shipment location, conditions and forecasting delivery time.?

The technology eases the burden of suppliers and manufacturers and makes it convenient for them to predict how goods will move throughout the supply chain. Also, it reduces their handling times and ensures efficient material processing.

Regarding supply chain management, IoT devices are vital in tracking and authenticating products and shipments using GPS and other technologies. Furthermore, they help monitor product conditions that enhance quality management throughout the supply chain. IoT devices use sensors to solve critical problems and measure specific aspects related to location, temperature, humidity, light levels, movement, handling, speed of movement and other factors.

IoT-based supply chain management enables managers to test vehicles, multiple vendors, and delivery routes, collect data on the process and find the cheapest and safest framework for managing products.

Smart Factories

The smart factory is an interconnected network of machines, computing power and communication mechanisms that leverages the latest technologies, including artificial intelligence (AI) and machine learning data analytics, to analyze data and drive automated processes. Building and scaling smart factories is the biggest challenge to unlocking true exponential value.

To overcome this challenge and stay competitive, manufacturers must partner with manufacturing automation vendors and system integrators, providing solutions to upgrade factories or build systems from scratch.

IoT applications enable manufacturers to transmit seamlessly from one end to another and manage processes remotely in real-time. Furthermore, IoT optimizes manufacturing processes related to cost, resource management and performance.

With this technology, smart manufacturing enables factory managers to collect and analyze data for improved decision-making and optimized production. Smart devices can offer real insights into how customers use them.

Smart Retail Store

IoT technology has completely changed the paradigm of the retail industry.

IoT technology has a lot to offer to retail, from online and in-store sales figures to warehouse automation and robotics. Much of this relies on RFIDs, which are already heavily used worldwide.

Regarding customer engagement, IoT helps retailers target customers based on past purchases. Equipped with the information provided through IoT, a retailer could craft a personalized promotion for their loyal customers, thereby eliminating the need for costly mass-marketing promotions with less chance of success. Many of these promotions can be conducted through customers' smartphones, especially if they have an app for the appropriate store.

Smart Grids

A smart grid is a holistic solution that considers all these factors to improve the efficiency of the electrical network. With IoT technology, we can make our electrical networks more efficient, reliable, and economical.

Bidirectional communication between the end user and the service provider is essential for detecting faults, making decisions, and repairing them. It also helps users monitor their consumption patterns and adopt the best ways to reduce energy expenditure.

The IoT applications behind the smart grid make a big difference in how electrical networks are monitored and controlled. With intelligent energy meters, sensors at strategic places, and bidirectional communication between users and providers, substantial value can be gained in fault detection, decision-making, and repair. This also helps users learn about their consumption patterns and find ways to reduce energy expenditure.

Concluding Thoughts

IOT is contributing tremendously to sustaining the growth of modern businesses today. The ever-changing nature of IOT constantly brings incredible innovations in the IT industry. Business enterprises get real-time insights from tracking devices using sensors and connectivity. It facilitates organizations to identify the bugs in the devices easily and can run preventive maintenance to improve "things" utilization.

IOT trends offer great potential value with improved asset utilization, productivity and process efficiencies, and reduced cost. IOT enables organizations to remotely monitor sensitive inventory, equipment, and plant and machinery.

In the coming years, there is much more to see in the Internet of Things.