Expected in 2024, it is anticipated that the IoT network will connect over 207 billion devices worldwide, including tools, toys, and industrial equipment.
Intelligent machines are becoming a reality, integrating artificial intelligence (AI) and exhibiting autonomous decision-making capabilities. Below are the 10 trends in smart devices applying IoT (Internet of Things) technology that the world is moving towards
1. Safety and Privacy:High Priority
With the increasing prevalence of AI-assisted cyberattacks, security and privacy on the IoT network have become top priorities.
2. IoT Healthcare:Value Expected to Reach $289 Billion by 2028
The market value of IoT in healthcare is projected to increase to approximately $150 billion by 2024, opening up numerous potentials in health monitoring and treatment.
3. Retail Sector:Expenditure to Surge to $177.9 Billion by 2031
The integration of IoT in retail is expected to propel expenditures to $177.9 billion by 2031, creating new shopping experiences for customers.
4. Vehicle-to-Vehicle Connectivity (V2V): Reducing Accidents and Carbon Emissions
Communication between vehicles aims to reduce accidents and maintenance costs while concurrently decreasing carbon emissions in the automotive sector.
5. AIoT and Convergence: Smart Devices and AI Meet
The convergence of IoT and AI (AIoT) brings forth smart devices with intelligent decision-making capabilities.
6. AI Generation on Wearable Devices:Integrating AI with Wearable Devices
Smartwatches and fitness trackers utilize creative AI to generate interactive and personalized experiences.
7. Edge Computing and 5G: Enhancing Autonomy and Real-time Capability
The combination of edge computing and 5G helps reduce data processing time and enhances the real-time capabilities of smart devices.
8. Circular Economy: Applying IoT for Sustainability
IoT sensors aid in managing and optimizing energy usage, resources, and waste mnagement, aiming towards a circular and sustainable economy.
9. Digital Twins: Diverse and Innovative Applications
Digital twins, combined with IoT, will be widely deployed in various innovative and diverse use cases.
10. Brain-Computer Interface: Reading Brain Signals for Thought-Controlled Devices
The brain-computer interface technology is advancing, promising the ability to read brain signals to control smart devices, expected to be more prevalent in 2024. This trend is further propelled by innovations undertaken by Elon Musk’s company, Neuralink.
Conclusion: These trends mark the innovation and progress of IoT, creating new opportunities in sectors such as healthcare, retail, automotive, and the environment. We may witness a revolution in how we interact with and utilize technology of 2024.
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