Top Five IoT Predictions in 2020
The internet is taking over every kind of tech at breakneck speeds. As a result we have a world where nearly everything that we see and do is related to the online world. Our internet is not just computers, tablets and smart phones any more. It has touched the heart of nearly every kind of industry from medical to dental to automotive.
Jobs are becoming more convenient and more easily accomplished due to the devices that we connect. Our lives are becoming more convenient and healthier due to the online devices that we use.
The Internet of things is a phenomenon whose time has definitely come. IoT is the term we use to describe those devices that are online or related to the online world and it is not overstating the case to say that every company in the world is striving to make headway in IoT in the last decade as well as the one ahead.
Spending on IoT is expected to triple by 2025 and development of IoT will be nothing short of stratospheric by the end of 2020.
The world has finally awakened to the power of IoT and the potential that it holds, both positive and negative. We as individuals–as well as our companies —are embracing IoT in a huge way.
Small companies and large ones are investing massive amounts of money and manpower into the development of IoT and we’re seeing some of the greatest minds in the world today focused on IoT development.
The long and short of it is that we’re going to be seeing some massive changes in IoT this year that will take your breath away and a few things that have been needful in the IoT arena. What kinds of changes will we see in the year ahead in IoT?
Increase in the use of Iot.
IoT is predicted to be connecting more than 25 billion devices by the end of 2020. In 2015 there were 4.9 billion devices and every where we are seeing that rise dramatically. This year will be no exception with unprecedented growth predicted to take place in this first year of the new decade. It will be nearly impossible to use any product that is not in some way connected to the internet in 2020.
Security will be top priority in IoT in 2020.
The increase in the use of Iot is going to be matched by a marked increase in security for Iot with the security becoming a number one priority for industry. Given the problems with security and hacked devices as well as the wide internet outage brought about by hacked and controlled IoT devices, companies will become much more security conscious about IoT and legislators will consider IoT device legislation to ensure that people using it remain secure.
AI will grow dramatically, fed by IoT connections.
IoT will help devices to gather more data about you and the things that you do as well as how we live. From coffeemakers to smart cars, the devices in use are collecting information about how we use our devices. That data will help to boost Artificial intelligence by leaps and bounds. It will give our devices the ability to use machine learning. It will be used to help our devices to ascertain our needs and to meet them and promote Artificial Intelligence.
Massive Increase in the Rise of IoT in Healthcare.
The healthcare industry is going to be dramatically involved in IoT and nearly every one of the companies involved most in healthcare will invest vast amounts of time and money in IoT in 2020. “Frost and Sullivan say that the internet of medical things has the potential to grow at a compound annual growth rate of 26.2% and reach $72,000 million by 2021.”
We Will See Increased IoT Fragmentation.
The growth of IoT is predicted to be not just vertical but many other directions as well and we’re going to find a lot of fragmentation taking place. The fragmentation will be very obvious and probably cause a lot of issues with different things being compatible. Companies are going to struggle to create standards for devices and for different certifications. It may be years before that happens but predictions are that we’re going to see the companies most heavily involved in IoT struggle to find those standards for their devices and connections.
Predictions are that by the end of 2020 IoT spending will double and that by the end of 2021, IoT spending will reach $6 trillion. If you’re looking for the best time to tap into the power of IOT. There is no time like now. Take a second look at what IoT and the power of good quality IoT personnel can do for your company.