The Internet of Things (IoT) made it big in 2020, partially accelerated by the remote working owing to Covid-19.
McKinsey suggests that the worldwide number of IoT/IoT-connected devices likely increase to 43 billion by 2023, an almost threefold increase from 2018
The IoT has been a thriving sector of the tech industry in recent years. As people are now spending more time at home thanks to Covid-19, the importance of connected devices has accelerated.
IoT actually means people can connect to digital networks and the Internet with devices such as smartphones and computers, in order to share information, chat, buy, and so forth.
The IoT basically enables humans to connect ‘things’ to the Internet (and to networks that use Internet technology). These things/items can exchange information between them and transmit data to other devices and systems.
They can usually also receive data. The information they share can be about objects to which they are attached and the environment they are in (through sensors of many shapes for different parameters). Smart devices and machines can also share information about their internal state.
Examples of ‘things’ range from consumer-oriented devices such as wearables and smart home solutions (Consumer IoT) to connected equipment in the enterprise (Enterprise IoT) and industrial assets such as machines, robots, or even workers in smart factories and industrial facilities (Industrial IoT, the essential component of Industry 4.0).
As we move forward in the work-from-anywhere model in 2021, IoT devices will bring thorough change in the remote workplace culture.
- Home cybersecurity hubs: The demand of smart home cybersecurity hubs are increasing with each passing day because they are essential. As we increase the internet’s access to our home appliances like doorbells, deadbolts and fridges, we open our homes to cybersecurity attacks. Hackers can access data through smoke alarms and air purifiers now. A cybersecurity hub protects all of your IoT devices from identity theft and password-stealing malware.
- IoT devices for working from home: Alexa and its counterparts will have a huge effect because working from home is going to be the new normal well into 2021, according to most estimates. Even the Virtual Stage resource offered by Microsoft is likely to play a big role alongside mainstays like Zoom.
- Smart home Assistants: Products, such as Amazon Echo and Google Home, which have become a central hub for smart home gadgets and their voice-activated assistants, by offering convenience across homes. The demand of the smart assistants is constantly increasing. This has therefore resulted in growing skillsets among voice assistants, to increase functionality to control various home operations and lighting and temperature.
- Smart home devices/applications: With the growing penetration of high-speed internet, the adoption of connected devices and smart home applications is increasing, especially in regions, such as Europe, North America, and Asia-pacific. IoT has changed consumer behaviours by 10 years with the shift to more e-commerce engagement. Some of the majorly incorporated solutions include voice assistants, smart thermostats, smart lighting, security cameras, smart locks, and smart doors, among others. Many e-retailers have started driving customer behaviours through various strategies. For example, Amazon is continuously pushing to train their customers to order through Alexa when they notice their customers are low on soap, toothpaste and other household essentials. This will likely make a change in consumer spending and benefit Amazon greatly.
- Smart Speakers: As the consumer inclination toward the adoption of smart speakers is on the rise, the demand for other connected devices is increasing, which may be controlled via such devices. As per Loup Ventures, the smart speaker market’s revenue, globally, is expected to reach USD 35.5 billion by 2025.
- Wearable fitness devices: Smart fitness devices aren’t going away any time soon. Basically, any fitness-oriented wearable IoT device with biosensors has the potential to do well in today’s market, which shows no signs of stopping according to the most recent year-over-year sales data. Most of us want to get into better shape, but don’t know how to measure our progress. Wearables are the solution
- Smartwatches: Smartwatches will have a tremendous impact on the IoT space and customers’ lives in the coming year. Companies like Samsung have refined the smartwatch experience from a UX perspective, but they’ve also gathered plenty of actionable data from their existing customers. I think this will lead to more accurate health readings, more features and an overall better experience for customers.
- Kitchen gadgets: IoT kitchen gadgets are certain to pick up in 2021 as more and more food-based devices become available in the market. For instance, IoT pressure cookers and other devices offer precision control in cooking food and also add a layer of safety since they can turn off if you forget about the meal you’re making. As people continue to blend work and home life, such devices will be time-savers.
Few months into the 21st century, it is already known that the technology transformation tsunami is accelerating at an unbelievable pace.
So, it’s time for all the industries to add a layer of futureproofing on top of knowing their industry/core markets well.
Written by Linda Rosencrance, of iotworldtoday.com
