How IoT solutions are driving technology into the future EMSNow

By Matthew Margetts, Director, Smarter Technologies

The term “Internet of Things” (IoT) has become more widely known and has found unique applicability not only in our homes, but also in our businesses, workplaces and cities. Number of installed IoT devices are expected to reach approximately 30.9 billion units by 2025.

They are essential tools for digital transformation and datafication – and their power lies in improving performance, as well as problem-solving capabilities. The importance of IoT as a technology trend this year and in the future is the role it plays in the successes of other technologies. For manufacturers looking to drive evolution, keeping tabs on the latest IoT trends is important for agility through 2023 and beyond.

●There are more than 7 billions connected IoT devices currently in use.

● By 2030, 75% of all devices should be IoT.

●Worldwide IoT spending is expected to hit $1 trillion and this rate of growth is expected to continue into 2023 and beyond.

A quick overview of the benefits of IoT in business

●IoT solutions help build resilient supply chains

● Improved health, well-being, safety and security

● Optimized use and maintenance of assets

● Reduced overhead

●Improved communication and engagement

● Significant sustainability and environmental advancements

Technology Trends Fueled by IoT

1. Remote monitoring

According McKinsey, the COVID-19 pandemic accelerated the adoption of digital technologies by seven years. Given the global lockdowns, this naturally includes requiring remote monitoring and moving to automated systems. These IoT-based technologies are being adopted to transform everything from building monitoring and machine performance to building occupancy and machine learning.

2. Modular smart technology solutions

The preference for individual devices performing multiple functions has given way to networks of devices. This network of devices creates a modular system of individual utilities and processes. The result is a granular view of all operations, which contributes to the benefits of the holistic network.

3. Data analysis

Data is arguably one of the main strategic tools for businesses. High-quality data plays a role in designing business strategy (what can be monitored can be managed more effectively) and ensuring the integrity of supply chains. With alerts about deviations from “normal” data sets, real-time action is also inspired, which can avert disaster and reduce costs.

Data also has the ability to inspire high-level compliance, machine learning, customer service, maintenance schedules, safety and security. In addition, it gives valuable information to assess the return on investment and prevent waste.

4. Artificial Intelligence, Machine Learning and Visual Inspection

The concepts of artificial intelligence, machine learning, visual inspections and automation are becoming increasingly common. These functions are all better guided by data insights, eliminating the unpredictability and margin of error of human processes.

5. Advanced networks

As IoT technologies evolve, so do the networks around them. Improving the speed, security, and reliability of networks and connectivity infrastructure is the precursor to IoT sensors, wearables, cities, and smart homes.

6. Smart buildings, smart cities

IoT and smart technologies are used to optimize various functions in the urban environment. This is done as a way to create a more engaged public and improve everything from public transport systems to responsible and environmentally friendly use of resources.

IoT technologies and smart technology solutions have also found their way into businesses, buildings, Health care, detail, agriculture, and manufacturing. IoT technologies are impacting many different facets of these different industries. This includes vaccination cold chains, predictive maintenance for better equipment management, transport and logistics. The applications are endless and easily adapted to the specifics of a project or a long-term strategic objective.

7. Digital Twins

Digital twins are virtual replicas of a physical product, process or system that bridge the physical and digital worlds. Today’s digital twins use sensors to collect real-time data about a physical item, which is used to create a virtual copy of the item. The digital duplicate can be optimized, manipulated and analyzed to test different scenarios in a risk-free environment.

Challenges

Security

According Kaspersky According to a study published in the first quarter of 2022, 43% of companies have an unprotected IoT infrastructure – and cybersecurity issues remain a barrier to implementing IoT systems (as reported by 57% of companies surveyed) .

As IoT devices become more prevalent – ​​and our reliance on them increases – security concerns take on renewed importance. Gartner reports that 20% of organizations have experienced cyberattacks on IoT devices in the past three years.

Flea Shortages

The supply of semiconductor chips for IoT solutions has been strained by high demand lately, resulting in a shortage of chips. This is intended for limit IoT growth to 10-15% in 2022. The good news is that public and private sector efforts across the European Union are aimed at addressing the challenges of scarcity and making room for realized growth potential.

Latency

Traditionally, the optimal data transmission efficiency and speed of IoT technologies depended on bandwidth capabilities. Network advancements will not only ensure that data is transmitted in real time as required by many applications, but also that this process is done securely.

Smarter Technologies Group provides digital transformation and IoT technology solutions to private and public sector clients. These solutions are powered by OrionTM, the real-time data network, which is SIM-free, secure and wireless with advantages in signal penetration and network coverage.

We believe in using technology to simplify a complex world. Our IoT sensor system collects data in real time, reporting this information to a remotely accessible, cloud-based dashboard. Alerts about deviations from predefined data parameters allow you to react to unwanted changes to reduce costs and waste, streamline the customer and workplace experience, and optimize efficiency and profitability.

Norma A. Roth