Future Of Internet of Things
In our entire series on IoT, I have lost count of the times I mentioned that IoT is booming. As I have already discussed, the market of IoT is expected to reach an estimated value of USD 1,721,231.5 Million by 2027, and more than 60 billion devices shall be connected to the internet!
So today, I decided to dedicate an entire article to the future of IoT. IoT is and will continue to be the backbone of numerous technologies that change how we all live. We will soon notice massive shifts in data regulation and can expect better security.
In this article, let us look at 10 fascinating predictions of IoT. Through these predictions, we shall gather various insights into IoT’s future trends and goals. So buckle up, grab a coffee, and read till the end of the article!
Predictions of IoT
1. The Growing Rate of Connected Devices
There are countless articles and reports on the net with various predictions about the number of IoT devices. Some say that there will be over 21 billion IoT devices by 2025. Others say there will be 60 billion IoT devices by the end of 2027. These predictions come in all shapes and sizes, but the fact is certain: IoT is inevitable, and it will continue growing.
It is not that these predictions are false because if we take a look back, there were only 4.7 billion IoT devices in 2016. Today (2022), nearly 13 billion IoT devices exist. So, like it or not, IoT will continue growing and play a significant role in our lives.
2. Increase in Cyberattacks
Since IoT stores a lot of sensitive information, hackers can attack the IoT system to access this data and maybe even expose it. Security has always been IoT’s number one problem and disadvantage. With the rise in IoT devices, the number of cyber-attacks will continue to rise.
Again, let us take a quick look back. In 2016, the very first IoT malware was introduced – Mirai. This malware was malicious software that could infect connected devices such as DVRs, security cameras, etc. In addition, this malware helped cybercriminals target the devices using default passwords and usernames.
3. Rise of smart cities
Smart cities include services, devices, and technology that work with IoT to manage bigger problems like water, electricity, roads, transportation, public areas, buildings, and digital services such as broadband.
Smart cities aim to make the lives of the citizens more comfortable and smart cities safer, modern, and reliable to boost the economy. Today, there are already many smart cities. Some examples are NYC, London, Copenhagen, San Francisco, and Paris.
4. AI Will Significantly Contribute to IoT
We have already seen that when we combine IoT with some powerful artificial intelligence and machine learning algorithms, they can perform high-level tasks. All IoT devices collect data on your habits and usage patterns. This data helps facilitate machine learning.
Machine learning helps computers “learn” without someone having to program them, as these computers are programmed in a way that focuses on the data that they receive. The machine learns using this data and adjusts itself accordingly.
5. Routers Will Become More Secure and Smarter
IoT devices are prone to cyberattacks because most consumer IoT devices reside in the home, making it not possible to have security software installed. In addition, since most manufacturers get their IoT products to market quickly, security is mostly an afterthought. This is why the homeowner must take better responsibility.
At your home, the router can provide protection, as it is the internet’s entry point in your home. Usually, a router provides additional security, like password protection and firewalls, and also gives us the ability to configure them only to allow certain devices on your network. With more and more IoT devices, routers will become more and more secure.
6. 5G Will Fuel IoT
With the entry of 5G, the entire technology will be revolutionized. Why? Faster networks imply that the data accumulated by your smart devices will be gathered, analysed, and managed to a higher degree. It will boost innovation, and companies will make better IoT devices and improve consumer satisfaction.
The fifth generation of cellular wireless assures greater speed and also the ability to connect multiple smart devices simultaneously. This is why 5G will revolutionize the IoT and connect more things to the internet as more and more wireless carriers continue to roll out 5G networks.
7. Smarter Cars
With advancements in IoT and 5G, the auto industry will shift into a higher gear. The development of driverless cars and connected cars is already in full swing, and with the future that IoT holds, this process will only become better and faster.
Many people do not consider cars as IoT devices, but upcoming cars will rapidly analyze your data and connect with other IoT devices, including other high-tech and smart vehicles.
8. 5G Will Improve Privacy and Security Concerns
In the future, more and more 5G-enabled IoT devices will directly connect to the 5G network. As a result, the number is expected to exceed the number of IoT devices connected to a Wi-Fi router.
This prediction exists because it will become more challenging to monitor all IoT devices as they will bypass a central router. Holistically, the increased reliance on cloud-based storage will provide attackers with new targets to attempt to breach.
9. Evolution of DDoS Attacks
Cybercriminals are using IoT devices to direct other attacks. For example, in the future, there may be attempts to weaponize IoT devices, or even worse, a nation can shut down thermostats at residents’ homes in an enemy state during a harsh winter. Botnet-powered DDoS attacks have also been used to infect IoT devices and bring down websites.
10. Security Concerns Drive Legislation Activity
With the increase in IoT devices, security and privacy concerns continue to rise. Therefore, in the future, security and privacy will drive legislation and regulatory activity.
Various government bodies around the world have already implemented such actions. For example, in 2018, the European Union executed the General Data Protection Regulation, which led to numerous security and privacy initiatives in several nations worldwide.
11. Better services in healthcare
IoT has transformed healthcare in various ways over the past years and will do so in the years to come. It has changed so much that an entire domain is named after it – the Internet of Medical Things (IoMT).
Even though remote patient monitoring is one of the most well-known examples of IoMT, there are several examples of IoT in the healthcare industry. The value of IoMT is predicted to reach 176 billion dollars by 2026.
12. Smarter homes
A smart home is essentially a network of connected smart devices and home appliances that improve the consumer’s quality of life by offering simple, reliable, and efficient solutions.
These connected smart devices can be any device used at home. For example, they can be TVs, refrigerators, thermostats, microwave ovens, washing machines, dishwashers, geysers, doorbells, security cameras, lights, fans, air conditioners, and more.
With constant development and progress in the IoT environment, these devices and protocols will also get better and more robust to build a smarter house.
Summary
These are only a few predictions of the massive world revolving around IoT. You have now learned 10 fascinating predictions for the future of IoT.