What are the Top 4 Technologies Spurring the Growth of IoT Sector?
CEO at Integra Sources
There’s been a lot of buzz around IoT these days. But then, despite the hype around it, the fact is, it’s still considered to be an underdeveloped technology in recent history. Believe it or not, technology is taking ages to grow. The best news: The byte sized advancements continuously happening behind the scenes could move IoT closer to fulfilling its potential.
Here are three important IoT trends that’ll make waves in 2019:
IoT devices are expected to grow explosively in 2019 and the coming years.
A few stats that vouch for the above claim:
- According to Statista, connected devices will touch almost 27 billion by the end of this year and 75 billion by 2025.
- According to IDC, the total spending on the IoT will touch $1.2 trillion in 2022.
- As per Bain & Company forecasts, the total market share of the Internet of Things, which includes IoT hardware, software, systems integration, and data and telecom services will touch $520 billion in 2021.
Technologies that will spur the growth of the IoT sector include:
5G Will Make Waves
The current infrastructure of WiFi and 4G LTE aren’t capable enough to connect all smart devices in a meaningful way. Enter 5G. The technology is continuously advancing, which, in turn, could help connect IoT systems better.
But then, there’s still a lot of work to be done at the backend to make sure this evolving tech lives up to people’s expectations. In the coming year, we can expect to see something inspiring happening in this space.
Blockchain to Fight Data Leakages
IoT, on its own, can do only so much. Put another way, IoT has to work in combination with other technologies to ensure data security. One of the main reasons companies are reluctant to join the IoT bandwagon is the inherent risk involved in data security. Simply put, in the current scenario, leveraging IoT could lead to business data leaks.
Enter Blockchain, AI, and Machine Learning. Top blockchain companies offer robust safety features, which when connected with IoT, ensure data security.
Voice-Recognition-Interface Will Be In
As it turns out, tapping a touchscreen or pressing a button on a keyboard is considered difficult, these days, thanks to the increasing popularity of voice recognition these days.
By the end of 2018, nearly 50% of the households in the U.S. were using smart speakers like Amazon Echo or Google Assistant. In the meantime, Amazon has introduced 15 new Alexa powered devices, and also Alexa developers can now offer 50,000 new services.
Even consumers are becoming more and more comfortable using voice to talk with phones, cars, and even smart devices at home being wired with a voice-recognition interface.
So, it goes without saying: Voice is becoming the basic interface in the digital world that is connecting a wide range of IoT applications and devices.
And any which ways, humans have been using voices as a means for communication for thousands of years. So communicating with the digital devices makes more sense.
So, how is Voice-as-an-interface going to flex its wings in 2019? One, there will be a lot more devices with a voice interface. Plus, there will be more voice-powered devices and accessories flooding the market space.
Further, we could expect a lot more innovations in AI from market leaders like Amazon, Google, and Apple.
Sure, 5G isn’t completely there yet either, particularly, in the area of natural language processing that could help our handy digital assistants understand more than just simple voice interactions.
Data Sensors Will Be Ubiquitous
Widespread use of data sensors is being predicted this year. This will ensure a fully connected supply chain. Which means you could track down the bakery shop where your pizza base was baked, the farms where the garnishing veggies were grown and so on, before actually having your pizza. Thanks to the growing base of standardized data sensors, you can sit back and dissect the entire supply chain threadbare. In 2019, we will see an influx of such kind of data sensors in the field of IoT.
In short, anything and everything will be connected, going forward.
The point is, IoT is progressing like other technologies such as the cloud, blockchain, 5G, and more. So once we have a better handle over the latest technologies, we will able to make IoT faster, safer, and more effective.
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