As we approach the upcoming year, our anticipation for the future is high. In this latest blog post, we delve into the anticipated IoT trends for 2024! Continue reading to discover more…
The Surge of 5G Networks in Driving IoT Expansion
One of the most eagerly awaited developments in the coming year is the expansion of 5G networks. With their promise of swifter download and upload speeds, reduced latency, and unparalleled reliability, the impact of 5G networks on IoT is poised to usher in a new era of applications that require real-time data transfer and minimal latency. This progress will open avenues for advancements in Smart City Technologies, autonomous vehicles, and virtual and augmented reality.
Transformative Synergy of AI and Machine Learning
In 2024, the synergy of AI and ML with IoT will play a pivotal role in shaping intelligent IoT systems. The integration of AI and ML into the realm of IoT will give rise to sophisticated systems that adapt to their surroundings. This groundbreaking development will enhance the efficiency and effectiveness of various IoT applications, ranging from Predictive Maintenance and Fault Detection to Energy Management and Automation. As a result, we can expect a notable improvement in the performance of IoT applications, spanning predictive maintenance, fault detection, energy management, and automation.
Edge Computing Taking the Spotlight
Edge Computing is gaining momentum as a solution to challenges posed by the vast amount of data generated by IoT devices. By processing data closer to the source at the edge of the network, businesses can reduce latency and enhance their IoT applications efficiency.
Enhanced Security Measures
As numbers of connected devices continues to rise, so does the need for security. In 2024, a focus on implementing robust security measures within IoT ecosystems is expected. Including advanced encryption protocols, secure device onboarding processes, and improved authentication methods to safeguard sensitive data and protect against cyber threats.
Growth of IoT in Healthcare
One area set to see a significant IoT surge in 2024 is the healthcare industry. IoT is revolutionising the way patients are cared for, from wearable devices to smart implants providing medical professionals with real-time data. In 2021, Forbes reported that the ‘patient monitoring global market is expected to grow at a mid- single digit CAGR from 2020 to 2027 to reach $42,974.9 million by 2027.’
Sustainability in IoT
In the upcoming year of 2024, an increasing emphasis on sustainability within the IoT sphere is anticipated. This shift will manifest in the form of a greater prevalence of energy efficient IoT devices and the initiation of projects aimed at leveraging IoT solutions for environmental monitoring and conservation endeavours. Anticipate advancements ranging from smart buildings adept at optimising energy consumption to the implementation of intelligent waste management systems. The role of IoT in fostering a more sustainable future is poised to be pivotal.
In 2024, the IoT environment is teeming with innovation, poised to usher in substantial progress in connectivity, intelligence, security, and sustainability. As various industries continue to tap into the potential of IoT, the coming year stands as a transformative period, offering the promise of reshaping our lifestyles, work dynamics, and interactions with the world.