In 1999, when the Term IoT was first coined to describe an innovative technology Known as the Internet of Things, It was anticipated that this technology would change almost anything. Based on the reports and data gathered from authentic sources, there are now more than 13 billion IoT-connected devices throughout the world. Interestingly, a massive growth in the number of IoT technology devices is expected by 2030, over 29 billion devices will be connected to IoT technology.
A technology that once belonged to the future is our daily reality. IoT technology has experienced some drastic and major shifts in the past two decades, it’s here to cause even more alternations and Advancements in various fields. This article investigates the upcoming novel trends of IoT in 2023. If you are in the business of IoT or any other related field, this article will help you to stay on top of the latest trends. Before delving into the world of IoT and the vast transformations that will happen in 2023, let’s explore IoT technology and its functions.
Demystifying the Technology and its Inner Workings
IoT is an interconnected and interrelated system that links computing devices, mechanical and digital machines, objects, animals, or people with unique identifiers called (UIDs). The UIDs are able to exchange data with an internet connection without the need for human or computer interaction. The word “things” refers to the network of physical objects that operates with sensors, software, and other technologies to transfer data with other connected devices.
Using IoT technology has resulted in endless benefits for companies and organizations, including better customer services, enhanced decision-making, increased business value, and improved functionality and efficiency.
Moreover, IoT technology has opened up other business opportunities, such as providing better and more user-friendly applications and saving time and money.
IoT technology has been made based on a wide range of multi-facet technologies. These important and considerable technologies are machine learning, sensors, embedded systems, automation, control, and wireless systems. IoT devices have built-in sensors that can share data through an internet connection and share the necessary informatiosen with the required application designed for a specific function or need. IoT devices can detect essential information from excessive and unnecessary ones to investigate possible problems and suggest possible solutions.
Top IoT Technology Trends in 2023
IoT and Healthcare
IoT devices like wearable sensors, smartwatches, and SpO2 sensors have helped doctors and physicians to detect and monitor their patients’ conditions. IoT devices have made it possible for occupied and busy doctors to assist patients remotely and outside of emergency rooms. Moreover, this technology has also opened up tremendous opportunities in surgical treatments. IoT devices are anticipated to continue riding the crest of success and increase their value to $267 billion in 2023. The concept of a virtual hospital ward that empowers doctors and nurses to look after and keep track of patients will pervade our lives in 2023.
IoT and Security
Although IoT devices have made many demanding tasks simple and straightforward, they have also caused various safety issues and attacks. The greater the number of connected IoT devices, the more malicious actors are waiting to steal and manipulate these devices. This problem has prompted security experts to develop a more thorough system to ensure the safety of IoT devices.
This issue has gained lots of attention to the point where the White House National Security Council announced that standardized security labeling will be provided for consumer IoT devices by 2023 to minimize the possibility of valuable data theft. Based on research conducted by Juniper Research, cybersecurity solutions for IoT devices are about to reach over $6 billion globally by 2023. In addition to the US government, the UK has also stated that a new Product Security and Telecommunications Infrastructure (PTSI) bill will soon be put to use.
Energy Monitoring with IoT Technology
One of the most interesting impacts of IoT technology is offering smart energy monitoring. In this day and age, warming houses and offices seem to become an urgent and fundamental problem. The situation is getting worse due to rising fuel bills for domestic and commercial places. IoT devices are putting forward a promising solution which is to monitor and preserve the warmth and heat of houses. Some of these IOT-based systems have already been introduced, such as Scottish SMEs and iOpt. Based on forecasts, more of these IoT devices will be implemented for social housing in 2023.
On the other hand, suitable IoT devices to monitor energy for commercial side and public places are yet to be developed. They need more advancement to be able to work properly.
IoT technology for observing and controlling energy can truly decrease the cost for public places by scheduling energy-intensive tasks in cheaper tariff work hours.
IoT Convergence with Metaverse
Metaverse has become a buzzword in the past two years and now infiltrating every business. Just like other technologies, IoT has merged with the metaverse to make revolutionary changes. Many experts hold on to the opinion that the convergence between metaverse and IoT will shape the future of technology in 2023 and beyond. Metaverse has made a bridge between the virtual and real world. Now, by employing IoT sensors, developing virtual realities of actual places such as shopping centers, schools and parks seem to be more feasible than ever. The magical convergence of metaverse and IoT has built a digital twin that actualizes the virtual experience using metaverse technology like VR headsets to comprehend how different variables and individuals’ expectations affect the business outcome
