The world’s connection with the internet is rapidly growing and progressing. The growing usage of mobile devices proves that the connection of the world with the internet is truly remarkable and astonishing. With 2025 promising a larger estimate of twenty-two billion devices across the globe, the businesses have more to plan and end-users have more to experience.
A prediction by Gartner states that there will be about 20 billion devices connected to the IoT by 2020 and that IoT product and service providers will add a $300 billion business in revenue.
The fact clearly explicates and points towards the growth of IoT technology, how it would upsurge in the year 2020 and will continue its reign in the coming years as well. While we have already seen the plethora of opportunities driving the trends like smart homes, smart appliances, smart sensors, wearable devices and more, what more can we expect in the year 2020?
The IoT app development company is planning to come up with more IoT apps that are going to rule the market in the coming years. Let’s have a glance at what trends can we expect in 2020 and how it is going to revamp our lifestyles.
1) Edge Computing
Before the introduction of edge computing, cloud services had been the first choice of an IoT app development company for all kinds of data and information management. IoT devices have been storing their data over the cloud and then based on the requirement the transmission was made. However, with time, the IoT development companies have started to realize they can avail the benefit of data management to a limit and for which an entire concept of the cloud may not be very fruitful.
This challenge is catered today by edge computing. The concept of transferring entire data to the cloud, few and important ones are being stored at edge. Thus, entire data is not sent from the IoT device to the cloud. Rather, the data is first transferred to a local device that is located closer to the IoT device or is located at the edge of the network.
2) Healthcare Apps
As per the data shared by Frost and Sullivan, the internet of medical things is expected to grow at a compound annual growth rate of 26.2% and reach $ 72,000 million by 2021.
The fact clearly explicates that there is a huge scope of IoT trends in the healthcare industry. While it has already begun, the IoT application development company that inculcates the IoT benefits into apps and assist end-users in gaining healthcare benefits. Few IoT apps to mention are telemedicine apps, wearable devices, virtual assistants to monitor patients at home and more. The growth of mobile devices is another reason why the healthcare industry will see a boom with IoT trends in the year 2020 and the years ahead.
3) Personalized Retail Experience
Another sector where IoT is expected to transform the industry is the eCommerce and retail industry. While earlier when it was all about visiting a brick and mortar shop to make a purchase, the digital age transformed it into online shopping. However, the growing technological advancement has brought a more progressive approach to the retail industry.
IoT technology has transformed the shopping experience for users and is building more innovative solutions to simplify and personalize the experience. With the IoT trend, every IoT application development company is designing apps that help a buyer in directing them to the exact place a product is, using a map. The simpler and easier idea is to get the item in discount as the technology sends continuous notifications of the deals and offers that are going on in the favorite shopping place.
4) Data Analytics
Data management is critical but analyzing the data and then using it to improve the marketing propaganda is extremely critical for the success of the business. With more and more connected devices in the coming years ahead, businesses are utilizing the capabilities of IoT technology to bring better data analytics. The amalgamation of IoT and AI technology is expected to bring decision-making assistants for individuals and businesses together. IoT has proved to be an excellent tool for analyzing trends and thus introduces scope for data analytics. The analyzed data improves the productivity of the business and relationship with the end-users.
5) Predictive Maintenance
Last but not least is the trend of predictive maintenance. How easy it would be for users to know beforehand an appliance is supposed to get a maintenance check? This idea is another aspect of why IoT is gaining an edge over other trends. IoT app development company is bringing an enhancement to the user’s lives by predicting in advance about the health of the appliance. Users can align maintenance of the appliance before it stops functioning and thus hampering the daily chores.
Conclusion
Summing up, the internet of things (IoT) technology is elevating the pace of the businesses by bringing connected devices to operate from one point. The growth in the usage of mobile devices gives a push to the development of IoT apps. While few trends are mentioned in the blog, there are few like smart cities, IoT security, blockchain and more that have been in the mind of every IoT development company as current and future prospects. These trends not only improve the lives of the users but also enhance the productivity, reliability, profit, and success of the business.