The Internet of Things is shaping the entire market. The wave of innovation is affecting both the industrial sectors and the world of consumers. The areas of application of this technology are as innumerable as the opportunities that it if adopted, implies.
To keep up with its increasingly accelerated growth, let’s find out what the top 6 IoT trends will be for 2020!
1. Increase in the number of connected devices
Recent forecasts estimate there will be up to $21 billion connected devices across the world in 2020. This number means that IoT increased dramatically in the last 5 years. In fact, compared to 2015 the number of connected devices raised by $7 billion.
2. Cities will continue to become smart
A city defines itself smart when it uses technology to improve the social, environmental and financial aspects of urban life, making the life of its citizens more sustainable and of higher quality. In 2020, cities will become smarter! Investments in technology spending are expected to be around $80 billion by 2050 worldwide. The smart revolution will not be limited to cities only, but will also invest offices and companies with equal impetus.
3. Networks fragmentation
The increasingly rapid spread and development of IoT technology will lead to a fragmentation of its ecosystem, due to the birth of new IoT networks. This means there will be more ways to get data from IoT devices. However, if on the on hand this will create greater flexibility, making IoT practically possible in any part of the planet, on the other it will make things more complicated, causing compatibility problems between the different IoT networks.
4. Rise of IoT spending
According to IDC, the global IoT spending will reach $1.29 trillion in 2020. In particular, Discrete Manufacturing (such as automobiles, furniture, toys, smartphones, and airplanes), Transportation & Logistics, and Utilities Industries are projected to spend $40 billion each on IoT platforms, systems, and services. The consumer market (which includes smart home and connected cars, wearables, etc,.) will be the second-largest source of IoT spending this year with $25 billion. Healthcare and Process Industries project to invest $15 billion each in IoT.
5. Growth of IoT in the healthcare sector
The healthcare sector is a growing market for IoT technology, such as monitoring systems that can track patients, staff and equipment. Using IoT technologies the healthcare industry will take advantage. In particular, the main benefits will be:
- streamline processes;
- reduction in costs;
- raise patient care.
The adoption of IoT will also increase investment in related markets, such as physical therapy and nursing home. The result will be a major integration between all the segments of the healthcare industry.
6. More focus on IoT security
The use of the IoT offers innumerable advantages, but at the same time, the amount of data deriving from the connected devices makes this technology vulnerable from the point of view of security. So for 2020, regularization is necessary that allows strengthening data protection security. About this regard, companies are developing better solutions to ensure that data remains safe and there are no potential flaws in IoT ecosystems, which can cause cyber attacks. Governments are also working in the same way as they are working to develop regulations that guarantee security compliance in all IoT projects that deal with citizens’ data.
Download infographic about Top 6 IoT trends in 2020