Author: Vishal Rajpurohit

Technology has no boundaries, and its advancements have proved this statement. In recent years, the whole world has seen an explosion of technological innovation and creativity, with bold projects across the world: from 3D printing, autonomous vehicles, wireless devices, robots, gamification, mobile robots, and Automatic Content Recognition. The Internet of Things (IoT) is everything today. Sounds complex and grand? IoT is a game-changer, with the motto of bringing all virtual objects to real life.

What is IoT or the internet of things?

The Internet of Things (IoT) is an environment in which all things such as networks, humans, devices, etc., can communicate over the web using a unique identifier.

The key idea behind IoT is to build a situation where we don’t need to control every part of devices separately. Instead of having control over a typical chain of connected events, several interconnected devices can easily communicate with each other and with humans.

According to Fortune Business Insights, Between 2021 and 2028, the global Internet of Things market is predicted to reach from $381.30 billion in 2021 to $1,854.76 billion in 2028 at a CAGR of 25.4%.

The Internet of Things integrates multiple trends, incorporating Big Data, the Increasing use of video devices, the growth of connected or integrated devices, cloud computing, and enhancing the uses of modern computing devices over traditional devices.

Know how IoT is reshaping the current & future markets

IoT, or the Internet of Things, is revolutionizing the current and future markets in numerous ways. It refers to the network of interconnected devices that communicate and exchange data with each other via the internet.

Smart manufacturing with IoT

IoT is like a driving force that brings a revolution in industries 4.0 phenomenon. Using vibration control on vital factory equipment and intelligent sensors for moisture, and temperature, industries are improving operational efficiencies, analyzing failures, & effectively optimizing their workflows.

According to IDC, in 2019, the total estimated investment in IoT made by manufacturing industries was $119 billion.

IIoT (Industrial IoT) platforms are overtaking the task of traditional MES, incorporating inventory management, quality control, and product maintenance. Industry 4.0 will take communication technologies and information to bring a higher level of digitization and automation.

IoT for smart healthcare

With the advent of immersive technologies like AI and Machine Learning, healthcare data increases; new possibilities are rising. The value and importance of healthcare data is unlocked in modern patterns such as creating personalized treatments, diagnosing illness, and scans.

Please don’t get confused. IoT in healthcare is not used to identify diseases; however, it helps analyze patient information in real-time to know the exact health conditions and offer proactive treatments to patients.

For example, FRID wristbands and health monitors enable tracking information such as heart rate, body temperature, blood pressure etc.

Artificial intelligence & advanced management

There is a huge list of emerging trends in IoT; however, without Artificial Intelligence (AI), it can’t be completed. Therefore, in highly typical projects, the combination of the Internet of Things (IoT), blockchain, and artificial intelligence (AI) becomes the IBM case. Indeed the increase in data is one of the biggest changes that covers several IoT industry trends.

As per Verified Market Research, the global Internet of Things (IoT) market hit USD 826.25 Million in 2019 and is estimated to grow at a CAGR of 19.98% from 2020 to 2027 and will reach USD 3,281.55 Million by 2027.

Indeed, IoT is all about data collection to let businesses take reasonable and required actions on the verified and analyzed information. Depending on the AI backing to the IoT efforts with advanced data analytics, any business can easily make reliable estimations.

All such predictions can participate in improving data management with the assistance of intelligent automation. With the current machine learning algorithms, procedures can be easily automated, enabling an enhanced sense of data gathering and increased accuracy. Experts can also make connections between IoT and AI through metaphors.

5G networks across the industries

In the 21st century, 5G networks will be deployed to several industries worldwide. This will be a driving factor in bringing an increase in the number of IoT devices. IoT and 5G are termed as the beacons of the next industrial revolution.

Now, it is time to drive tech transformation using immersive technologies. 5G network offers far more reliable and faster connectivity, which helps businesses transform business processes and manufacturing accordingly. 5G, along with IoT, are creating a robust infrastructure for tablets, wearable devices, vehicles, and smartphones. In the future, more devices will be based on IoT technology.

The engagement of IoT with 5G will power up the development of intelligent cities, benefits the manufacturing industry, improves health industries and connected vehicle networks. The whole ecosystem is connected devices, and intelligent sensors are predicted to bring new shapes to the future

Transforming the energy and utility sector

The motto behind using IoT in the energy and unity sector is that it enhances revenue, improves efficiency, and better use of enterprise resources. Let’s check few use cases of IoT in this sector

1. Oil & Gas
2. Smart meters
3. Electricity grid management water management

Blockchain technologies reshaping IoT

Blockchain is one of the widely used IoT technology trends. Money transactions and data transfer between different IoT devices in a reliable way is now possible as blockchain offers an accessible infrastructure to get things don effortlessly.

Both blockchain and IoT are living up together to their hike. The decentralized nature of blockchain matches with the fragmented nature of IoT. IoT devices are intended to improve people’s life and business processes.

This needs the constant building of personal data and signifies more substantial threats of hackers. The distributed nature of blockchain will create a vast amount of data accessible when required with the minimum security threats.

Revolutionizing the retail industry

The IoT technology provides three different opportunities to retailers in complex areas: the supply chain, revenue streams and available channels, and customer experience. IoT seems like a work of imagination; however, it has become a reality even faster than our understanding.

Retailer business owners who waver to build and implement an IoT strategy will offer new opportunities for competitors. As a retailer, if you start using IoT in your business, it will create more customers, improve the supply chain, and generate more revenue.

Intelligent farming with IoT

The world population is increasing every day, so the food requirement will increase accordingly. The United Nations assumed that there would be more than 70% by 2050 to fulfill the needs of a growing population.

Indeed, in farming, IoT can play a significant role in improving the agriculture industry, optimizing resources and increasing efficiency.

IoT offers more productivity for WFH

Work From Home (WFH) has become an increasing trend due to the current pandemic situation. Safety is the primary concern for all organizations. All AI-enabled personal assistants like Alexa are now used in many homes, and we can expect more apps intended with IoT to enable us to our daily working needs remotely.

This will tend to more interactive video conferencing, virtual meeting technology, calendar tools, intelligent automated scheduling, and better quality.

Enhancement in cloud computing

Worldwide Cloud Computing Market Outlook to 2023 is predicted to expand at a CAGR of 18%– Increase in SMEs to build more revenue for Cloud service providers.

According to DeloitteThe Internet of Things market is assumed to generate USD$ 11.5 billion by 2025.

Cloud platforms, the operating environments and the hardware of online data centers built rapidly in the last five years and now increasing at a CAGR of 18%.

As a result, large technology providers added their computing power and data storage capacity as vital power for expanding IoT applications, which enabled the development of more functional, analytical, and secure functionalities in the apps.

IoT is everywhere nowadays but not executed in one go. It is an ongoing process that offers advantages to digital transformations. We have seen tremendous growth and acceptance of IoT devices across the world. Such technologies are continuously bringing changes to our lives.

Additionally, it is suitable for businesses to adjust their processes and operations to the new capabilities of IoT. It also enables you to easily address those difficulties that were not easy to use earlier with traditional technologies. Using IoT, you can also maximize the value of your business and enhance its growth.

Internet of Things (IoT) is an immersive and game-changing technology. It is not new to the market as its roots have been available since the ’90s. IoT connects everything things in a type of network.

The network of things you have in the office or home gets connected effectively to the internet and interacts with each other for easier management, savings, and higher efficiency. IoT assists homeowners and supports large organizations, and offers huge benefits like high flexibility and efficiency.

Mobile apps are one of the most suitable channels to give a boost to IoT technology. Mobile is easy to access, handle, and flexible platform used to data transfer, communication, and IoT integration in mobile apps. IoT devices have become easier to manage and monitor.

According to a study, “By 2025, 76 billion connected devices will be delivered to customers, generating revenue of about $490 billion.

Considering the same concept and statistics in mind, mobile app development companies focus on predictive analysis, cloud data processing, and data-driven services- all rewards go to IoT.

Moreover, the Integrated Development Environment (IDE) shows a fruitful toolkit for IoT app development. Let’s talk about the impacts of IoT in the app development process. The IDE-like toolkits offer high-end solutions while creating, managing, and deploying IoT applications.

Since the IoT app development offers full control to its developers in different appliances and devices with a smartphone, what are the specific impacts of IoT app development are discussed below. Let us dive in.

Flexible accessibility

Today customers don’t have much time to wait for accessing or loading an app. They need quick access to everything. The integration of mobile app development with IoT supports users in accessing any interconnected object anytime, anywhere with just a few clicks or touch of the button on their mobile devices.

The best IoT development company  can ensure that your mobile app is perfectly integrated with IoT platforms. A reliable IoT development company also helps businesses in increasing their functionality and network usage to the users.

High-security protocols

Irrespective of your business size, you need a highly secured platform for your data. However, no matter how big your app is and how must it is lucrative, it still does not certify that your app is error-free.
Moreover, mobile apps are highly vulnerable and prone to external security threats like hacking, bugs, etc. To create highly secured and robust apps with anti-theft features, developers have developed an immersive idea named IoT.

Using an IoT platform, you can create a highly strong and secured mobile application that is not easily vulnerable.

An interactive and robust app development system

A mobile app that is crafted with highly secured and robust technologies offers smooth navigation and an interactive environment. In the same way, the apps that are developed using IoT technology are very challenging and competitive; they are highly interactive as well.

One of the lucrative reasons to create IoT apps is IoT automatically increases the space for customization and creativity. This results in increased user reach, a great competitive advantage, and higher revenue.

Enhanced efficiency

Apps developed using IoT are more efficient and processed. This is because such apps work straightforwardly and uniformly. Here uniformity assists in bringing positive impacts on efficiency and thus improves productivity. Additionally, the app users will get the same user-friendly experience while using the app.

Niche market entry

Every business owner desires to enter a niche-specific market. Again IoT assists you with unmissable benefits. It is not good to avoid IoT app development hire IOT developers to get niche market entry effortlessly.

In this way, you can leverage the full potential of the Internet of Things platform. It will help you address a niche market and get a competitive advantage in the industry-specific market.

IoT app development challenges:

Data collection and processing

As we know that IoT apps need lots of data; therefore, if your  hire IoT developer, he/she must have a decent plan to collect and process data on the cloud and meet the platform requirements carefully.

Also, if you need support to fetch insights from collected data such as machine learning resources, customers’ preferences, and behavior, hire an IoT developer to get useful data in hand.

Connectivity challenges

The actual use of IoT app development is the transmission of data in real-time. Yet you can face issues due to poor latency or connectivity. Lousy connectivity is a big issue where IoT-enabled devices are called to identify, monitor, and supply information.

A professional IoT app development company should address and resolve these issues during the design and development phase of the app. Developers need to understand the device’s features and functions to make better development decisions.

Hardware and software challenges

There should be a decent balance of hardware and software functions for mobile app and IoT development. Although it is essential to focus on device design to achieve the required performance, it often generates issues during rapid and regular updates.

At the same time, if an IoT device does allow regular updates like resolving errors or fixing bugs, it impacts the performance and quality negatively.

So, it is not an easy job for your IoT developers to deliver the possible outcomes with desired performance despite device updates, bug-fixing, and heavy OS. Hence, it is vital to maintain a proper balance between hardware and software.

IoT app development can give your huge business efficiency, high performance, and competitive advantage in today’s dynamic market. If you want to enhance user engagement, and deliver exceptional customer service and experience to your buyers, improve brand identity and increase business reach – all within a cost-effective way- IoT is the best way to go!