The last few years have marked dramatic changes in the capabilities of IoT and it is not over yet. The number of IoT devices is expected to reach over 24 Billion by 2030. What are the innovations that an IoT software development agency should expect in the forecast duration? Let’s dig right in!

1. Adoption of 5G network:

The potential of 5G technology can change the world of technology forever. The fifth-generation technology standard for cellular networks allows high-speed data transfers with very low latency. 5G is a game changer for applications that require real-time data. It will take some time before the world can fully transition to 5G. It has the ability to provide the highest-speed internet yet along with streaming and supporting video games, virtual reality, and other high-bandwidth applications. 

2. Smart Cars and Road traffic:

The technology that fuels smart cars will become more ubiquitous once 5G is adopted everywhere. Smart cars can assess road conditions, and traffic situations and, manage routes at the same time. Fully autonomous vehicles might still take a few years but partially autonomous vehicles like Tesla are seen on the road. The vehicles assist the drivers in parking, changing lanes, and avoiding high-traffic routes. Smart car IoT systems reduce the chances of human error and make the roads safer. 

3. Smart Cities:

If the government adopts the technology of IoT in running the cities, administrative work is revolutionized. IoT technology can make cities smarter and their constituents safer and happier. IoT can revolutionize public transportation, waste management, traffic problems, job growth, and revenue generation. It is only a matter of time before governments start leaning on the IoT to manage the cities. 

4. Business Adoption:

The consumer segment of IoT has grown remarkably over the last few years. Seeing the consumer adoption of IoT, businesses are now accelerating their consumption of IoT to stay connected and relevant. Only 13 percent of businesses used IoT in 2014 and 35 percent in 2019. The growth is exponential. Businesses are using IoT for

• Fleet management
• Transportation and shipping management
• Health outcomes
• Warehouse management
• Transforming agriculture

5. Artificial Intelligence:

Artificial intelligence was the technology trend of 2022 and it is highly related to IoT. IoT produces incredibly valuable data that can be used and analyzed by companies via artificial intelligence. The data can be used to improve customer experience, increase efficiency and productivity, increase profits, and see opportunities for new product developments. Machine learning can mine data obtained from IoTs gain deep insights, update predictions and plan solutions to any upcoming problems. IoT and machine learning together is an incredible duo capable of achieving huge things.

The Future:

The future of IoT is starting now. The world of technology and business industry are excitedly paving the pathway for IoT to unleash its full potential. Great things are on the horizon. As this niche is growing more and more industries will be taking advantage of IoT to increase profits and accelerate growth. IoT has to potential of shaping the world into a more liveable place.