Is Internet of Things really going to change the world in next 10 years? I have heard that there will be more than 5 billion IoT based devices will be added in next 10 years?
What is the future of Internet of Things (IoT) in next 10 years?
No doubt IoT deployment is getting more prevalent & this trend will continue to grow in future. In the future, there will be mass deployment of Analytics of Things (AoT) & IoT (including various sensors & actuators) whereby many systems (Hw & Sw) are interconnected optimally. Key advantages of future IoT includes:
Faster & better decision-making quality - some decision making can be even pre-programmed / automated based on sensors' inputs received at the edge.
Faster, lower cost & effective management of entities / environments / products - IoT enables speedier & better quality of monitoring, processing & control as & when needed.
Better security embedded in the entire IoT ecosystem including from sensor / actuator to backend analytical engines etc. (but future IoT will have its own security challenges)
Attached links include some use cases of IoT at the moment & its future use cases are up to our imagination / further investigation:
IoT along with Edge Analytics (IoT data analytics at the edge) promises to impact every aspect of human life! According to Cisco, there are already two connected devices for every human...
IOT will go through different generations and different stages and will probably reach a somewhat maturity stage within the next 10 years whereby IOT will be geared towards to enhancement of the lifestyle of Humans. It will be integrated in all aspects of life and all industries; medical, home, construction, vehicle, law enforcement, etc.
For IoT to have a useful future to the todays and future world, focus should be given on security. IoT devices collect critical and sensitive data. Unlike other security incidents, an IoT security incident may directly affect human life. For eg, an assisted living provider utilising may collect data from different sensors like pacemaker, insulin level sensor etc, and analyze the data to identify the correct level of dosage. If the data collected or the information given back to the system can in anyways be manipulated or chnaged, it can cause death of the patient.
So proper authentication and encryption of communication between sensors and analysis platform need to be implemented. The senosrs available nowadays lack resources for providing authentication and encryption. This should be changed by using ASIC for handling these functionalities.
1. The number of internet connected “things” already exceeded our population back in 2008. By 2020 this number is expected to reach 50 billion.
2. Only 0.06% of all devices that could potentially leverage IoT are actually doing so.
3. By 2025 the global worth of IoT tech is projected at $6.2 trillion, with the maximum value from healthcare ($2.5 trillion) and manufacturing ($2.3 trillion).
4. Innovative B2B devices will fundamentally change the way businesses function. These connected devices are expected to increase from 2.5 billion 2017 to 5.4 billion IoT devices in 2020.
5. Of all the business who chose to implement IoT, 94% have already seen a return on their IoT investments.
To read more about IoT please refer - https://data-flair.training/blogs/iot-tutorial/