The Internet of Things (IoT) is a rapidly growing market with a clear influence from emerging trends. According to Fortune Business Insights forecasts, the volume of this market in monetary terms will grow by 25.4% annually, increasing from $ 381 billion in 2021 to $ 1.8 trillion. dollars in 2028. A huge number of IoT devices that connect and interact with each other, increase the efficiency of business operations.
Undoubtedly, the growth in the number of IoT devices will lead to the emergence of new vulnerabilities. This is due to the fact that if one device is compromised, then other devices with which it interacts can be compromised through it. Trend Micro and GSMA Intelligence’s “Securing private networks in the 5G era” study found that 15% of enterprises that deploy IoT have not updated their security protocols. This is due to the rapid growth and adoption of these technologies.
Currently, there are very few government standards that require businesses to maintain cybersecurity at all times. For the most part, investing in cybersecurity is a decision made entirely at the behest of business leaders themselves. In the future, not only an increase in the number of cybersecurity tools is expected, but also an increase in the number of enterprises considering solving the problem of cybersecurity as an important part of their development.
The growth of IoT and 5G go hand in hand. The rapid adoption of 5G networks is dramatically accelerating the development of the IoT ecosystem, and cross-penetration of these markets will continue into 2022. 5G allows companies to offer services that would have been too expensive or difficult to operate in the past. Overall, 5G offers a number of additional capabilities over 4G that will enable IoT devices to connect and interact more efficiently with each other, including faster data rates, global Internet coverage, and up to 90% more energy efficiency in traffic.
5G is expected to be the main catalyst for IoT growth. However, it should be borne in mind that 5G itself has cybersecurity issues similar to those that arise when using IoT devices. Both 5G and IoT could be the beginning of a new era of redefining cybersecurity.
The rise of wearable technology
One emerging trend that business leaders should look out for is the proliferation of wearable technologies within the IoT. Wearable technologies such as smartwatches have enormous potential in the IoT space and for many businesses. Fitness and active workers will find this trend particularly useful given the fact that many smartwatches and wearables are integrated with health and fitness monitoring capabilities.
The healthcare industry is also expected to take advantage of this growing trend. Wearable IoT devices can be used to prevent and monitor heart attacks, track muscle activity in stroke patients, and monitor asthma.
Batch IoT for Enterprises
While the field of IoT is growing, there is a need for initial training that can deter businesses and business leaders from adopting it. Andrew De La Torre, vice president of technology for Oracle Communications, says packaged IoT solutions that offer user-friendly features and integrated analytics will drive IoT adoption. Businesses are willing to invest in turnkey IoT solutions to have built-in connectivity and analytics, he said. Indeed, businesses today are heavily investing in IoT / Edge Computing.
IoT in healthcare
The healthcare industry, especially since the start of the pandemic, has been at the forefront of IoT adoption. This is due to the potential for high-quality data. Together, IoT and artificial intelligence can be used to analyze patients’ health and needs, as well as blood samples and genetic information to make diagnoses and create new drugs. Another way of using IoT devices in healthcare is, as mentioned earlier, wearable devices. Wearable defibrillators are one of the most striking examples that fully demonstrate the potential of the IoT in healthcare.
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