IoT has been gaining popularity across the world and it doesn’t seem like this is about to change any time soon. From corporate applications to personal and household electronics, IoT has been making its way into every sphere. Although the popularity of IoT was already gaining momentum for a while, the pandemic situation was a big catalyst. It forced companies and individuals to adopt IoT, making the technology even more indispensable.
With the growth of IoT being strong in 2022, here are the top trends that you could expect to see this year:
As of now, 5G holds its importance mostly as a consumer product, enabling faster downloads. However, one might want to remember that several key IoT applications require minimal latency and higher connectivity speeds too. One could expect 5G to become more IoT ready by the end of 2022, with increased commercial uses. Private IoT networks built on 5G would ensure quicker data transfer, greater energy efficiency, and better coverage.
Artificial intelligence and machine learning technologies are becoming popular, and more IoT stakeholders would likely adopt them. For instance, natural language processing (NLP) and computer vision technologies are becoming increasingly affordable. These would enhance the audio and video analytic capabilities of an enterprise. With AI and edge computing converging, it looks like IoT is going to undergo major upgrades. When this happens there will be an increase in the number of stakeholders adopting AI and ML in 2022.
Virtual reality (VR) technology is already popular in the entertainment and consumer product segments. However, wearable Augmented reality (AR) and VR devices have started playing more important roles now in multiple verticals like healthcare, retail and fitness industry to name a few.
Data management is one of the key areas in the IoT space. From being tedious and fraught with the risks of errors, data management is becoming much simpler and quicker now. Businesses are adopting IoT for better management and streamlining of data collection. Specialized IoT data management tools are being built that would handle bulk amounts of data seamlessly and accurately.
With the applications of IoT on the rise, enterprises would be looking for more comprehensive solutions. This would lead to a growing demand for bundled or off-the-shelf IoT solutions that can cover different business requirements at the same time. Affordability, user-friendliness, and embedded analytics are features that would likely become common among such bundled IoT solutions.
By the end of the year, smart factories in North America would together be worth more than $500 billion USD. The future of the IoT sector looks quite bright indeed.