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From Alexa and Siri to self-driving cars and smart cities – the Internet of Things is everywhere! This groundbreaking technology is reshaping our world. What’s more, it seems that the fascinating Internet of Things will have a profound impact on our future as well! Internet of Things in 2020.
After all, IoT statistics say that the number of interconnected devices in homes will exceed 12 billion by 2020. Believe it or not, experts predict that more than 25 billion IoT devices will be produced by the end of 2021!
So, can anything stand in the way of IoT? How will the Internet of Things affect our lives in 2020 and beyond? Let’s find out.
What is IoT in the First Place?
Before we travel into the future, we should first take a quick trip down memory lane. In other words, it seems like a good idea to explain the concept of IoT and its inception.
According to history books, the term Internet of Things comes from Kevin Ashton and his prophetic imagination. He coined the term back in 1999, at the dawn of the Internet revolution.
But the first application of IoT took place at the University of Cambridge. Their so-called Trojan Room coffee pot is probably the earliest example of digitally connected devices.
So, how can we define the Internet of Things?
Well, this vast field of study is elusive and ever-changing, which makes it difficult to establish a universal definition. Nonetheless, experts agree that IoT is the system that enables devices to communicate with each other without human input.
If you take a look around you, you will probably see lots of examples of IoT gadgets and applications. Voice assistants in our smart homes are a hot topic these days, but other uses of IoT are already widely adopted.
What are the Benefits of IoT Systems?
Without a doubt, IoT technology is still in its infancy. Even so, IoT statistics show that the global investments in IoT applications will exceed $1.6 trillion by the end of 2020. In other words, the ever-expanding Internet infrastructure will continue to grow and evolve.
But what makes the Internet of Things so attractive and appealing? Well, this digitally-driven technology offers a wide range of benefits. Here are some of the notable advantages of using IoT devices and applications.
Faster access to information is a precursor to improved productivity. Therefore, IoT can free up time and streamline processes and activities. As a result, we can perform tasks more effectively than ever.
Ease of use is a must in today’s consumer world. We all want access to intuitive systems and ergonomic products. Well, the Internet of Things can provide a significant boost in terms of usability and functionality.
Continuous interaction with IoT devices can offer improved customization. To be precise, IoT applications will soon be able to “learn” from our behavior. After all, we all have our daily routines. So, these patterns will allow IoT devices to adapt to our needs and preferences.
Of course, this is just the tip of the iceberg when it comes to the benefits of this emerging technology. With that said, let’s take a look at the predictions and trends for IoT in 2020.
What Should We Expect from IoT in the Years to Come?
The time of widespread use of IoT is steadily approaching, no doubt about it. For that reason, investments in the Internet of Things seem like a smart business move.
For instance, recent IoT statistics say that the Home IoT sector is estimated to grow up to $53.45 billion in 2022. But the most significant investments could happen in the industrial area. To be precise, global spending on the development of the industrial IoT could reach $123 billion by 2021.
So, how exactly will the Internet of Things affect the world of tomorrow? Here are a couple of realistic scenarios:
- Smart cities
Smart cities are no longer a Sci-Fi idea. On the contrary, sustainable and safe urban habitats are a necessity. With the help of AI, the Internet of Things could transform our cities and boost the techno-industrial revolution. Also, the rise of the 5G network could speed up the process.
For example, smart cities of the future will have efficient parking systems, automated transportation, and rational water supply.
As we all know, fitness trackers have entered mainstream culture. These days, it seems like everyone is wearing one of those bracelets. Well, similar wearables could play a significant role in the diagnostics of health problems in the world of tomorrow.
The Internet of Things will provide the healthcare industry with a vast array of helpful gadgets. All sorts of portable monitors will collect and analyze the information in real-time.
- Automotive industry
Autonomous vehicles have been a dream for many generations. Nowadays, Tesla and other companies are making this dream a reality. Self-driving cars are growing in numbers, and IoT is an integral component of this system.
In other words, the Internet of Things will redefine the automotive industry in the years to come. Mobility will skyrocket with driverless vehicles. What’s more, Tesla and Uber are already experimenting with flying cars! Sooner rather than later, these prototypes will hit the streets.
- Voice Assistance
The likes of R2D2 and C-3PO made us fall in love with speaking robots. Well, it seems that we are finally ready to interact with gadgets and devices through voice commands. As we know, Alexa, Siri, and other voice assistants are making our lives more comfortable with each passing day.
Voice search is one segment of the use of IoT. Yet, the ability to give commands and receive results opens up an endless number of opportunities.
The field of IoT is still unregulated and lacks proper standardization. However, the potential of this technology is awe-inspiring. The wheels of evolution have gained momentum, and they show no signs of stopping.
For that reason, we can only expect further improvements in the world of IoT technology in 2020 and beyond. Nothing can stop the development of intuitive IoT applications, and that’s a good thing!
Let us know what you think of Internet of Things in 2020 in the comment section below.