The Internet of Things (IoT) has become a buzzword in recent years as its adoption has grown in both business and non-business sectors. As a technology that allows devices to connect and “talk” to each other, IoT has changed the way we interact with the world around us.
Looking back, the automated teller machine was one of the first IoT devices, invented in 1974. The term IoT was then coined by British technology pioneer Kevin Ashton in 1999 while working at the Massachusetts Institute of Technology (MIT) Auto-ID Center. Ashton stated that all objects or things can communicate with the Internet through sensors built into them, allowing them to connect to other devices.
Since then, not much was said about the IoT until the early 2000s, when sensor technology and wireless networks began to develop rapidly. Over time, the development and implementation of the IoT has become more massive in various industries. So what are the IoT trends this year and in the future? Check out the article below.
Internet of Things (IoT) Trends in 2024
It’s easy to see the development of the IoT in recent years, from various wearable products to devices that support business operations. This fact shows that the IoT trend will continue to accelerate, so what will the trend look like this year? According to Forbes, here are eight IoT trends that are predicted to boom in 2024.
IoT Security and Privacy
With more devices connected online, the potential gap for cybercriminals to operate increases. AI-powered cyberattacks are expected to continue to increase this year. For this reason, it is very important to ensure that IoT devices remain secure. IoT security and privacy factors are top priorities for the development of a network of interconnected smart devices.
IoT in Healthcare
The value of the IoT healthcare market is predicted to grow by approximately $150 billion this year. It is expected to reach $289 billion by 2028. This can be seen in the increasing number of healthcare services that are using the IoT to remotely monitor the condition of patients, to assist doctors with diagnosis, to collect data for research needs, and to develop new methods of treatment. Virtual hospital solutions allow elderly patients who are at home to be monitored online from a single location. This eliminates the need to travel to the hospital. Using generative AI in healthcare can transform patient data into reports and analytics needed for advanced treatments.
AI-Augmented IoT (AIOT) and Convergence
IoT technology will increasingly be converged with systems and devices that can answer questions and make decisions with the help of AI and machine learning. As with humans, thousands of connected devices are likely to generate debate. The development of protocols that will allow smart devices to operate better and more securely will be an industry priority this year.
Generative AI in Wearables
The wearable devices that are coming out this year are going to be powered by generative AI technology, which will allow them to act like a personal assistant or a personal trainer. The presence of generative AI in wearable devices is likely to be the end of the road for the likes of Siri and Alexa, which have often been relied upon as “health assistants.”
Edge Computing Meets AI and 5G
Edge computing refers to devices that analyze data close to its source, eliminating the need to send it to centralize servers, such as cloud services, for storage and analysis. Autonomous cars are an example of edge devices that can interpret data for road hazard detection without sending it to the cloud and waiting for the information to be sent back. The deployment of 5G networks will drive the adoption of edge computing through new applications and the integration of AI, which will make them even more intelligent.
Retail IoT
IoT has been widely adopted in retail, particularly to facilitate inventory systems, automated payments, RFID-based devices, and marketing. Although the adoption of IoT in the retail industry has not always been successful, the spending on IoT in the retail industry is expected to increase from $28.14 billion to $177.9 billion by 2031. This increase comes as more retailers recognize the importance of smart devices in understanding trends, improving efficiency and customer experience.
Sustainable IoT and The Circular Economy
The sustainability movement is a priority for many industries this year. Increasingly, IoT sensors can improve the efficiency of energy use in buildings, including identifying where savings can be made. IoT sensors can also be used to optimize inventory, shipping, and supply chains to ensure that resources are used efficiently in the storage and distribution of products. The IoT can also help companies determine if a product needs to be disposed of or if it can be reused in a sustainable way, so that waste and recycling infrastructure can be optimized to improve air quality.
IoT and Digital Twins
A digital twin is a virtual model of any system or object, from a small component to a smart city implementation, that can accelerate simultaneous and super-fast research and testing of experiments. IoT can improve the realization of digital twin models by ensuring that they are developed based on real-time data, which can significantly reduce time and cost. An example of a digital twin is a city that can capture real-time data on the movement of vehicles and people through cameras and sensors to optimize infrastructure planning. By 2024, the digital twin is predicted to be applied to increasingly diverse and innovative use cases.
Examples of IoT Adoption in Various Industries
Practically, IoT is used extensively across various industries. Here are a few examples of IoT usage in Indonesia, cited from various sources.
Manufacturing
Implementing IoT in manufacturing has proven to fundamentally transform businesses, especially in improving production efficiency, reducing downtime, and managing and optimizing production processes. Smart sensors embedded in production machines can help manufacturers collect and monitor the health of their equipment, predict potential failures, and ensure a real-time supply chain.
Mining
IoT applications enable the mining industry to monitor inventories of raw materials, equipment, and vehicles and manage products in real time, facilitating asset management and logistics. IoT helps the mining industry to prevent incidents in the field. Smart helmet is one of the IoT products designed to improve the safety of mine workers, which can detect air quality and potential materials in the added area.
Agriculture
The use of IoT in the agricultural sector can improve the efficiency of production and distribution of agricultural products. Embedded sensors can be used to monitor the condition of plants, climate changes in the field, and soil quality in real time. The use of mini drones with IoT technology can help farmers with fertilizer application and irrigation. In this way, farmers do not have to surround the entire area of the rice fields or gardens in order to eradicate pests and spray fertilizers.
Healthcare
Doctors and medical teams can monitor the health of patients remotely. Using sensors and internet connections, patients can be notified of medical conditions that require regular monitoring without having to come to the hospital. IoT can also help medical teams diagnose conditions, recommend treatments and medical interventions, and provide information on a patient’s glucose and blood pressure levels.
Energy
Monitoring and measuring energy through the installation of smart sensors on solar panels and electric generators is one of the main benefits of IoT in energy conservation. IoT can help optimize energy consumption and help secure devices and data from cyberthreats.
How is the Future of IoT?
According to State of IoT report released by IoT Analytics, the number of global IoT connections will grow by 16 percent to 16.7 billion devices worldwide in 2023. Although the growth is lower than in 2022, IoT device connections are expected to continue to grow year-over-year.
The same report also estimates that there will be more than 29 billion IoT devices by 2027. In other words, IoT technology will be increasingly adopted and implemented by many industries in the future due to its ability to improve operational efficiency.
Implementing IoT also allows businesses to reduce unexpected downtime, save costs, and ensure business operations are more scalable. To ensure that your organization implements the right IoT solution, CTI Group offers a range of solutions and services that can help with the modernization process and accelerate your business growth.
IoT Solutions and Services from CTI Group
CTI Group presents a range of IoT solutions and services that can drive digital transformation for small to large businesses. CTI Group’s IoT solutions and services come with a simple, consistent and innovative approach to help business partners and customers accelerate digital transformation easily, effectively and efficiently.
As an IT distributor, CTI Group provides end-to-end solutions to accelerate your business in the digital age. In addition to IoT solutions and services, we also come with operating system & database, virtualization & cloud, networking, business application, security, endpoint, and infrastructure solutions.
CTI Group as The Largest IT Distributor in Indonesia
As IoT becomes more widely adopted, a deep understanding becomes necessary to keep the business running optimally. Now is the time for your business to embrace the IoT to increase effectiveness and improve efficiency with a range of IoT solutions and services from CTI Group.
As one of the largest IT distributors in Indonesia, CTI Group has more than 20 years of experience to help you reap the benefits of implementing IoT technology. For more information on how we can help your business adopt IoT technology, please have a look at our solution benefits here or contact our team through this link.
