Internet of Things (IoT)
Another promising new technology trend is IoT. Many “things” are now being built with WiFi connectivity, meaning they can be connected to the Internet—and to each other. Hence, the Internet of Things, or IoT. The Internet of Things is the future, and has already enabled devices, home appliances, cars and much more to be connected to and exchange data over the Internet.
As consumers, we’re already using and benefitting from IoT. We can lock our doors remotely if we forget to when we leave for work and preheat our ovens on our way home from work, all while tracking our fitness on our Fitbits. However, businesses also have much to gain now and in the near future. The IoT can enable better safety, efficiency and decision making for businesses as data is collected and analyzed. It can enable predictive maintenance, speed up medical care, improve customer service, and offer benefits we haven’t even imagined yet.
And we’re only in the beginning stages of this new technology trend: Forecasts suggest that by 2030 around 50 billion of these IoT devices will be in use around the world, creating a massive web of interconnected devices spanning everything from smartphones to kitchen appliances. The global spending on the Internet of Things (IoT) is forecast to reach 1.1 trillion U.S. dollars in 2022. New technologies such as 5G is expected to drive market growth in the coming years.
And if you wish to step foot in this trending technology, you will have to learn about Information security, AI and machine learning fundamentals, networking, hardware interfacing, data analytics, automation, understanding of embedded systems, and must have device and design knowledge
IoT and Data Analytics
In case you haven't put it together yet, the IoT is no longer just about monitoring behavior and spitting out data. It's about processing data quickly and making recommendations (or taking actions) based on those findings. In large part, that's due to the ability for the IoT to partner with AI and ML technologies to make process the vast amounts of data it receives quickly. Take Honeywell's new Connected Life Safety Services (CLSS), a cloud platform that helps fire technicians to reduce the time needed for design, installation, commissioning, inspection, maintenance, and reporting of life safety systems. It doesn't just collect info. It synthesizes it to make smart and informed recommendations and decisions. Honeywell seeks to define a category it calls enterprise performance management (EPM) built on the data and analytics that can be collected and synthesized from an organization's environment, which was cemented through a recent partnership with Microsoft—another trend that I believe is gaining momentum.
Improving Data Processing at the Edge
In addition to just overall improved data analytics, we see more IoT data processing at the edge. Companies need to make decisions based on IoT data faster than ever before to realize the full value of the devices on the network. With the confluence of 5G networks, an increase in IoT and IIoT devices, and a dramatic increase in the amount of data we are collecting, I don't see this trend going anywhere but up. Companies like Intel are driving digital transformation through 5G network build-out, and edge computing and IoT plays a big part in that. AWS and NXP just announced another example of this with its new smart vehicle partnership that utilizes NXP's smart vehicle controller and AWS's edge and cloud services.
The growth of 5G, cloud computing, and faster and wider WiFi access is only going to continue to feed the growth of the IoT, while the pandemic—which will likely continue throughout the entire 2021—will continue to force the need for remote work and data access. Honestly, these are just a few of the biggest trends in IoT development, but there are so many more likely to emerge as the year continues to unfold—from voting to collecting unemployment. It's finally an exciting time for the IoT—and I cannot wait to see what 2021 has in store.
Comments