IoT or the Internet of Things describes the network of physical objects—“things”—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the Internet.
The definition of IoT has evolved due to the convergence of multiple technologies, real-time analytics, machine learning, commodity sensors, and embedded systems. Traditional fields of embedded systems, wireless sensor networks, control systems, automation (including home and building automation), and others all contribute to enabling the Internet of things. In the consumer market, IoT technology is most synonymous with products pertaining to the concept of the “smart home”, including devices and appliances (such as lighting fixtures, thermostats, home security systems and cameras, and other home appliances) that support one or more common ecosystems, and can be controlled via devices associated with that ecosystem, such as smartphones and smart speakers.
The internet of things is growing fast and in future people’s daily needs going to depend on the internet. It’s not just connecting computers and smartphones anymore. Multiple devices that we use in daily life need the internet to serve people.
>> IoT by 2025
The Internet of Things devices such as machines and sensors are expected to generate 79.4 Zettabytes of data in 2025. Also, IoT will grow at a compound annual growth rate of 28.7% from 2020 to 2025.
According to the projection of the Statista Research Department, 75.44 billion devices will be connected with IoT worldwide by 2025. IoT internet technology is the next major step in making the world a connected place.
>> Increased market value
The global IoT market is expected to reach a value of USD 1256.1 billion by 2025 from USD 690 billion in 2019 at a CAGR of 10.53%, during the period 2020-2025. With the development of wireless networking technologies, the emergence of advanced data analytics, a reduction in the cost of connected devices, an increase in cloud platform adoption, the expectation is the market to grow at a positive rate.
>> Growth in the sector of AI
IoT refers to the device that transfers data over a network. This generates unimaginable amounts of data and many organizations are clueless about how to manage this amount of data. To solve this amount of customer data, the Internet of Things allows data flow between the device and AI can help to manage this data without any human errors.
Machine Learning is a type of AI (Artificial Intelligence) that helps computers to learn without programming them. The computers are programmed in a way to focuses on data they receive from the device and learn with the received data to understand the customer’s preference and adjust itself accordingly.
Thus with the expansion of the Internet of Things, there will also be an expansion in the field of AI. Also, AI is one of the key propellants to the growth of the IoT revolution.
>> 5G networks will continue to fuel IoT growth
Major wireless carriers will continue to roll out 5G networks. 5G — fifth-generation cellular wireless — promises greater speed and the ability to connect more smart devices at the same time. Faster networks mean the data accumulated by your smart devices will be gathered, analyzed, and managed to a higher degree. That will fuel innovation at companies that make IoT devices and boost consumer demand for new products.
5G is central to the Internet of Things or a single network for billions of applications. From 2020 to 2030, IoT devices will grow from 75 billion to more than 100 billion, and the improvement from 4G to 5G in terms to grow the Internet of Things is most important. Today’s 4G network can support up to 5500 to 6000 NB-IoT devices on a single cell. With a 5G network, up to one million devices can be handled by a single cell.
>> Routers will continue to become more secure and smarter
The router is essentially the entry point of the internet into your home. While many of your connected IoT devices cannot be protected, the router has the ability to protect the entry point. A conventional router provides some security, such as password protection, firewalls, and the ability to configure them to only allow certain devices on your network.
>> IoT-based DDoS attacks will take on more dangerous forms
Botnet-powered distributed denial of service (DDoS) attacks have used infected IoT devices to bring down websites. IoT devices can be used to direct other attacks.
For instance, there may be future attempts to weaponize Internet of Things devices. A possible example would be a nation shutting down home thermostats in an enemy state during a harsh winter.
>> 94% of businesses will use IoT by the end of 2021
New reports from Microsoft show almost all businesses will use some form of IoT by the end of next year. The core Internet of Things industries such as manufacturing, retail, transportation, government, and healthcare continue to introduce new Internet of Things applications and solutions to their daily operations.
