FUTURE IN IOT
By: Dashon Kagale
Tags: Future In Iot, IoT, Internet of Things, Internet, Iot Future

Finally, the brave new technical future we’ve always dreamed of has arrived, it’s intelligent and full of “things,” the Internet of things. IoT refers to home appliances, cars, portable devices and other gadgets that are connected to the internet and share data with each other which is a short version of the Internet of things.

IoT’s future has the potential to be infinite. Increased network mobility, advanced artificial intelligence (AI) and the ability to deploy, automate, orchestrate and protect various use cases at hyperscale would accelerate developments in the industrial internet. The opportunity is not only to simultaneously allow billions of devices, but to exploit the enormous amounts of actionable data that can automate diverse business processes. As networks and IoT systems grow to address these obstacles, service providers can further advance into IT and web-scale markets through expanded capacity and AI, opening up whole new revenue streams.

There are 26.66 billion IoT-connected devices around the world, according to estimates. Which leaves every citizen of the world with at least 3 devices, statistically. But for all these mind-boggling figures, only 0.06% of the ‘things’ that might actually be related to the Internet. This leaves a great deal of space and opportunity for the creation of things on the internet. The future of the IoT is looking pretty promising.

How the Internet of Things is Impacting Technology

The IoT is one of today’s strongest transformative forces on the tech landscape, with implications on vertical sectors like manufacturing, aerospace and defence, autonomous vehicles, smart cities, wired applications for health care, and more. We should look at adoption rates for IoT devices as well as predictions for future growth in order to measure the effect of the IoT.

A McKinsey & Co. study shows that by July 2019, the number of companies that have adopted IoT technologies grew from 13% in 2014 to 25%. In the same study, the number of connected devices deployed worldwide is expected to increase to 43 billion by 2023, a three-fold increase in the number of devices over a five-year period. This is due in part to the over 200 new business applications for IoT devices that have been reported. A separate report compiled by Statista suggests that the total IoT-enabled hardware installed base will amount to over 75 billion devices by 2025.

Future of IoT And the Living in Smart Cities

The population growth generates the need to rediscover the way we live and develop smarter, productive and healthier ecosystems that are better. Sure, it’s a matter of convenience to implement IoT technologies in smart cities. Yet they are able to perform much more at the given instance. Like developing a smart economy and governance, improving infrastructure, improving protection, reducing the use and cost of resources and reducing the effects on the climate.

Smart cities’ popularity continues to expand. According to a recent survey, 66 percent of US cities invest in smart city technology. At the same time, almost half of the current smart city initiatives are built in Europe, according to Internet of Things statistics.

These are the ways that the IoT development can make our living easier:

Infrastructure

Ø IoT technology will assess the highways, rails and bridges that need to be rebuilt, as well as the extent of their deterioration, the severe temperatures that can cause damage.

Ø Recently, San Diego has replaced 3000 streetlamps with smart LED streetlights that only turn on when approaching a car or a pedestrian. This clever move saves an estimated $250,000 a year for the area.

Traffic Congestion

Ø One of the greatest sorrows of any large megalopolis is heavy traffic and congestion. But it is also something that is already being tackled by the IoT. For instance, for buses and shuttles, Tel Aviv reserves one lane on busy roads. In a rush the impatient driver can still use the lane, but it will cost them a fair penny. The sensors installed into the asphalt will pick up the license plate of the driver and charge them automatically. The fee is focused on how busy the road is.

Ø In London, parking is being tackled with the help of smart technology. The system helps drivers to find parking slot in search of empty space without having to drive through the streets.

Resident Security

Ø A smart city is a city that is secure. Biometric devices and face recognition are only one way of keeping us safe at home, at work or on the streets. But clever ways to make us feel safe on the streets are much simple. A lamp that turns extra bright, for example, if it hears banging or hollering. Cameras that stream a live video into the cloud are also supplied with the anti-hooliganism lamps in question.

Connected Vehicles and the IoT

The development of the Internet of Vehicles (IoV) relies heavily on sensors to read biological data inside the vehicle and environmental data from the outside. As technology progresses, cars will become smarter and safer to drive. Driverless cars could eliminate up to 85% of head-on accidents, as well as ease traffic, according to Cisco’s Connected Vehicles division study. And Uber-like services are more likely to upgrade their car parks with the extensive introduction of driverless vehicles. And because new vehicles won’t need a driver to pay, it’s going to be easier to use a hire car.

There are features that provide live updates on traffic, helping drivers reach their destinations faster while optimizing fuel consumption. To alert drivers to conditions outside the car, there are safety features that use on-board sensors and embedded systems. Car manufacturers are currently working with the largest technology and transportation service companies in the world to build autonomous self-driving vehicles that use the IoT to communicate with the cloud. In the automotive industry, the vision of IoT has a vast possibility to unfold.

Statista says the estimated global IoT investment is priced at over $1.1 trillion and has been increasing steadily. While this is a considerable amount, the IoT has also shown the ability to save us cash, with driverless cars achieving worldwide savings of more than $5.6 trillion. So we’re going to have to see how the scenarios unfold. And because the competition is more than just strong, and according to Forbes, more than 1700 start-ups are joining the competition, apart from the major market players.