The world is full of surprises, especially when it comes to technologies. From using smartphones to smart devices, we are surrounded by some smart technological innovations. However, as they say, “the only constant thing in this world is the change.” User demands are continuously evolving, and so is the trend for technologies. These days most businesses are seeking ways for digital transformation and some of them have already started working on it.
Some new technologies like 5G and RPA are gaining immense popularity, while some already existing technologies like Artificial Intelligence, Machine Learning, Augmented Reality, etc., are being explored for new opportunities. One such popular technology that has been the talk of the town for quite some time now is IoT i.e. the Internet of Things.
You all must have, at some point in life, heard about IoT, but what it actually is and what wonders it can do for your business, is what we are going to discuss in this article. So, let’s get started.
IoT: Everything Explained
IoT development is a huge trend these days. There are a number of IoT development companies available in the market that is working on extending the limits of this technology and integrating it into our normal business operations.
As Per Statista,” The global market for Internet of things (IoT) end-user solutions is expected to grow to 212 billion U.S. dollars in size by the end of 2019. The technology reached 100 billion dollars in market revenue for the first time in 2017, and forecasts suggest that this figure will grow to around 1.6 trillion by 2025.”
But do you know what IoT is? Going by the technical definition, “The Internet of Things is nothing but an arrangement of interrelated objects, living or non-living that is equipped with unique identifiers and has the capability to transfer data without requiring any interaction.”
If while reading this definition you are confused, then do not worry. You are not alone. Let us break this into much simpler words for you. Internet of Things or IoT is all about extending the reach of the internet beyond computers and smartphones and make smart solutions that can be used in our day to day lives using this technology. It is a network that allows the sharing of data among devices within the range.
With the world changing at such a fast pace, technology is also changing. It is important for businesses to keep a track of the latest technological trends and in this, an IoT development company will come to your rescue. So, in this article further, we are going to talk about these changes and trends in IoT that are worth watching.
Top IoT Trends to Watch
IoT has been in the news for quite some time now. It is continuously evolving and IoT developers and development companies are exploring new opportunities to use this technology. From the healthcare sector to the manufacturing sector, every industry is working toward integrating IoT solutions. Let’s begin with knowing these trends and how they can change the way your business works.
1. IoT and Big Data
Big Data and IoT complement each other really well. With so much amount of data available, it is vital these days to scrutinize this data for making significant insights. The idea behind integrating these two technologies is to obtain significant information, which can help in making better business decisions, and this is the main reason why Big Data development along with IoT is so important in making successful business moves.
2. IoT and Artificial Intelligence
As per the recent reports, IoT, when combined with AI, can do wonders for your business and can be used to develop highly smart and effective applications. if you are also looking to expand your business with digital transformation, then you must hire AI developers to create custom solutions and earn fortunes.
Artificial Intelligence helps you in understanding patterns and making predictions based on these patters. Companies hire AI developers to create smart AI solutions to enhance the effectiveness of business processes, thereby giving improved decision-making power to strategize a plan of action.
Read Also: Top AI Development Trends To Watch
3. IoT and SaaS
Talking about the IoT trends, SaaS is next in our list. SaaS is a service model wherein the service provider hosts the application and then this application is made available to users over the Internet. This is great for companies looking to outsource software applications. IoT trends like help in marketing your business to a large user base. With less to invest, IoT solutions integrated with SaaS have become quite popular in the gaming sector.
4. IoT and Blockchain
These days, security is one of the major concerns for businesses that deal with online money transfer. And what better than Blockchain solutions to help you transfer money safely. Blockchain solutions are known to encrypt your information and store it in the form of a chain. Blockchain transactions are highly secured and cannot be altered or hacked.
Blockchain Solutions are widely being used by financial institutions and many other industries. This is one of the most popular IoT trends that will bring great differences in the field of technology and foster its advanced application to build technical devices.
5. IoT and Smart home devices
Having a smart home is a dream for many, and smart devices help in making our daily chores quite simpler and easier. There is a growing demand for smart home devices, especially those that are developed using IoT. These devices are slowly gaining immense popularity and in the coming years, IoT enabled smart home devices will rule the IoT tends.
With the integration of IoT, these smart home devices will become more advanced and will be of great help to users. These devices not only offer comfort but also provide security and safety to your family.
6. IoT and Edge computing
In the coming years, Edge Computing will see much prominence over cloud computing. More and more consumers will be inclined towards using edge computing, seeing the number of benefits it offers. This technology has changed how IoT devices work.
Earlier IoT devices were completely based on cloud to store the entire data. But now, instead of sending the entire data to the cloud, it is first saved to the nearby local device, and this is what edge computing is all about. Only after sorting and analyzing data, a part is sent to the cloud. This reduces network traffic and also helps in managing humongous data that each device sends.
7. IoT and Personalization
As per IoT developers, this trend will completely revolutionize the retail supply chain sector. Using IoT solutions entrepreneurs offer an amazing shopping experience to their users. IoT solutions offer a much more personalized experience to the users, which in turn helps in both online presence and sales. Businesses opt for mobile app development services to get innovative and unique apps developed that can help them in attracting and engaging more and more users to their e-store.
Technologies like using sensors or beacons can make things quite easy and advanced for your users. IoT solutions help you in alluring more customers to your stores and will turn your business into a profitable one.
The Bottom Line
According to the trade analysts and business experts, IoT market will grow at a rapid rate in the coming years and will completely change how we see things around us. These days entrepreneurs are looking out for opportunities to integrate these IoT solutions into their businesses, which has also increased the demand for IoT development services in the market. These IoT trends will benefit both users and entrepreneurs and almost all industries are going to witness the rise in their business. IoT is known to bring in a lot of advancements and thereby changing our lives and making it much simpler.
Also, the market for IoT devices is increasing bringing more and more devices to use in a myriad of ways. Now business owners have various options to choose from and design their business strategies accordingly. IoT devices help protect your devices from hacking and keep your information safe and secure. Hence, if you are also looking to do something different and create a highly advanced app for your business then you must hire IoT developers, as seeing these IoT trends, the future beholds a lot for you and seems a lot promising.