IoT in 2022: Trends and Predictions

In the fast-moving growth and development that technology currently goes through, the Internet of Things (IoT) has become a watchword of society, considering its foundation in billions of electronic devices worldwide that remain connected to the internet, and collect and share data in real-time.

With the CoViD-19 pandemic having catalysed the use of tech and disrupting the very definition of “normal”, knowing the trends as we move into another year becomes of the essence.

Cybersecurity Advancement

2020 marked a definitive year in the rise of cybersecurity threats, particularly in that of ransomware. 2022’s IoT market will bear witness to a renewed focus on cybersecurity and the process with which it’s handled.

Experts believe that IoT network hacking will have turned out to be a common phenomenon by 2022. Cyber-attacks have already become so common that previously hit companies have taken up tools powered by IoT to drive the same.

Other companies have developed in-house tools dedicated to detecting threats and delivering security solutions. This in turn means a requirement of dedicated operators for IoT networks, who play the role of cybersecurity personnel and avert any harm that intruders can cause.

Unified Analytics

An integral part of IoT analytics and data is the detection of applications in IoT networks. In the process of voluminous transfer of data, the involved systems trigger alerts to the network cores.

With businesses and business leaders alike wanting to accelerate data analysis, Integrated analytics are now being installed into solutions as providers. These sport the ability to support IoT devices, procedures, and apps.

As a result, infrastructure adoption and optimization would be augmented, ensuring a greater degree of performance with networks operating in a low-latency environment.

Transformation of Business Models

Successful implementation of IoT in business models has been exemplified repeatedly, in augmenting the performance and transformation of a business by accelerating their plans, innovating on, and refining their business metrics and goals.

Guided by digital and human process automation, companies (particularly those in the secondary sector) are seeking to transform their business models to deliver more innovation and productivity.

AR, VR and the Metaverse

The Metaverse has been a fast-rising field. In effect, it’s a digital reality that leverages aspects of social media, Augmented Reality (AR), and Virtual Reality (VR) to let users interact virtually.

Bringing together physical and digital worlds would stand to pose multiple opportunities for applying IoT data in the technologies that are their impetus. The benefits involved range from reduced costs (due to economies of scale) to increased opportunities, and consequently profits.

Melding these technologies could help companies educate (and even train) employees about the products and services offered, and strategies for business growth and development.

Integrating IoT into Healthcare

We already have different types of equipment at our fingertips such as wearable sensors, devices, and tracking, to monitor our fitness and general wellness. But in the ever-evolving sector of healthcare, innovation and adoption of such tech are but the tip of the iceberg.

This field has experimented with the adoption of IoT technologies for years, given its immense potential for success in the same. With digital and engineering expertise to use in healthcare, examples of such integration include but aren’t limited to:

• Lighting systems linked to health scanners and sensors.
• ?Real-time location and inventory tracking of critical medical field equipment.

Establishing Smart Cities

By 2021, the IoT market size globally was already at a whopping USD 308.97 billion. At a compound annual growth rate of 25.4%, it’s projected to attain USD 1,854.76 billion by 2028.

The result of such IoT and edge computing technologies would pave the way to the creation of smart cities. With experts discussing innovations for the manners in which digital connectivity is executed, some cities have already begun considering integrating utilities and traffic infrastructure to IoT networks.

It’s an economic principle that a country’s standard of living depends on its ability to produce goods. Bearing this in mind, integration of such technology will not only improve social standards of living in cities but also provide its citizens myriad economic benefits.

Enhancing Customer Service

The accelerated adoption of contactless and digital payments during the pandemic attests to the massive impact IoT technologies have had on customer services. But beyond the provision of services, providing the information is of the essence as well.

IoT can enhance the capabilities of CRM systems, letting them detect customer problems and reporting the same to the companies. The same systems can also allow companies to join, listen and participate. This would lead to better consumer engagement, and in turn better customer retention.

As a key driver of digital transformation across industries, IoT, combined with other evolving technology can pave a new road with high efficacy, low costs, and broad interconnectivity.?