According to Statista, More than 23.14 billion devices are connected globally through IoT technology. It is also a big thing that IoT solutions will drive $344 billion in revenues globally while cutting down costs up to $177 billion.
“Smart”– this word has somewhat changed the existence of the actual way in which it was used before, at least in the engineering and networking communities. From gadgets to the place we are living and our daily necessities, everything around is just going ‘Smart’. This can be considered as the success of the Internet of Things (IoT) technology and solutions.
Exponential Growth of IoT across Industries:
The growth of IoT applications and IoT solutions has been magnificent globally throughout the years. Businesses in multiple industry domains have had reaped rewards by increasing revenues, simplifying the business process and by cutting the fixed -variable costs to a certain extent on permanent bases.
For the healthcare industry, IoT based Smart healthcare solutions include remote monitoring, smart sensors and medical device integration to a custom IoT mobile application leveraging custom mobile app development services. Life sciences and IoT Application in Healthcare are expected to grow to $1.335T in 2020, amounting to 17% CAGR as per Google.
Industrial Internet of Things (IIoT) has been a huge success in the manufacturing industry to automate multiple devices and processes to gather real-time data with robust security and make predictive analysis for better decision making. IoT usage in Industrial manufacturing is projected to grow from 2014’s $472B to $890B in 2020. Let us have a look at the Top 5 Predictions for IoT based solutions for various industries.
TOP 5 Internet of Things (IoT) Predictions for 2019:
1. Virtual Try-On (Magic Mirror) set to penetrate Retail Industry:
One of the most advanced IoT based solutions set to dominate the retail industry is the Smart mirror or Magic mirror. A virtual try-on solution for the in-store customers to try products (clothes, cosmetics,etc.) and see their appearance by standing right in front of a mirror powered with Raspberry Pi Web camera, LED Monitor covered with a sheet of the reflective one-way mirror provides interaction. Using Sensors, the Smart Mirror interacts with the user through gesture/ touch and responds to them adequately.
Implementation of technologies like AI, RFID, display technologies and IoT app development will make it a Smart Mirror. It is an interactive touch-free device that will address the need of accessing up-to-date information required by the user.
2. Comprehensive growth in Smart Home Automation:
Imagine having a fridge so smart that it can order food for you when you run out of things. A refrigerator that can tell you what to make based on ingredients that you have. Or a fridge that lets you know that you forgot to shut the door. Remotely. Through an app on your mobile device!
Smart home automation concept is leading the line to get implemented as giants in electric appliances like Phillips and Syska have implemented ‘Smart lights’ which can be controlled through an Android or iOS mobile application.
With the invention of Smart Speakers like Google Home, Amazon Echo Dot leveraging Amazon Alexa Skills development and HomePod leveraging voice-assistant technology, the home automation has been brought to a whole new level to enhance the living experience.
3. Acceleration in the implementation of Smart Neighbourhoods:
Smart home automation is another big upgrade brought in the real estate industry leveraging IoT technology. Sure Smart homes and Smart building have been mastered, the next step towards accomplishing the dream of Smart City would be to implement a solution called ‘Smart Neighbourhood’. The goal is to create a place to live in which can be safe and in the utmost hygienic conditions. This is a concept as of now that is predicted to get materialized during the next year.
By using smart sensors which will sense, record and transfer every bit of activity like walking routes, shared car use, building occupancy, sewage flow, and temperature choice at all times to ensure maintaining the best possible conditions in the neighbourhood. The smart neighbourhood is a significant concept to turn a dream called ‘Smart City’ into a reality.
4. The growth of IoT based Smart Healthcare Solutions:
Research firm Berg predicts that by 2021 there will be 50.2 million people remotely monitored using connected healthcare devices compared to 7.1 million in 2016.
Smart hospital and IoT based Smart healthcare solutions have started gaining popularity in the healthcare market during this year.
Many IoT based healthcare solutions like smart pills, smart home care, personal healthcare management, IoT based mobile solutions for health and fitness, enhanced patient care management, smart inventory management, secure and sensitive data management have been invented. These smart solutions have the potential to deeply penetrate the healthcare industry inside-out during the year 2019. In one statement, IoT has brought healthcare home for the people.
5. Connected Cars will own the roads in 2019:
An automobile is an industry in which IoT has been delivering solutions for a few good years now. Self-driven cars concept running in certain areas of USA is a result of smart IoT sensors which automates the whole driving experience for passengers. The potential of IoT for automobiles does not limit here. More predictions and opportunities are coming under the microscope which can happen actually during 2019.