By Sneha Bokil - November 13, 2019 3 Mins Read
The year 2020 is expected to see a rise in the number of solution providers building the necessary infrastructure required to support IoT applications, from sensors to the servers.
According to the latest report from the research firm International Data Corporation (IDC), by 2020, the global IoT spending will cross the $1.7 trillion mark. As we enter a new decade, we should gear up to witness more modern IoT trends that will shape the market. The year 2020 is also expected to see a rise in the number of solution providers building the necessary infrastructure required to support IoT applications, from the sensors to the servers.
Here are some of the top IoT trends to look out for in 2020.
The increasing costs of traditional communication networks and reducing costs of connectivity have resulted in a slow pace of Edge computing’s popularity. This is one of the main reasons for the shift towards centralized cloud processing.
Owing to falling prices and a rise in the processing power of the edge, there has been a transition of devices towards the network edge.
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IoT will take center stage, and increasingly, cities will start investing in smart connected lifestyles, especially for making their civic life smarter. Autonomous vehicles and the development of smart grids are some of the areas where IoT will show its mark. IoT will also drive innovations in traffic management and better utility and energy management.
In the past few years, we had witnessed that cities were rolling out more sensors and technologies to leverage better and smarter data collection tools. In a couple of years, cities are expected to get involved in data exchanges, which will lead to access to the data between the public and private organizations along with the citizens.
As per a Frost and Sullivan report, by 2021, the internet of medical things is projected to increase at a compound annual growth rate of 26.2% and reach $72,000 million. The rise in connected smart devices will also play a crucial role in supporting the healthcare sector. They will surface to support a range of e-health services that improve access and enable the monitoring of chronic diseases
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IoT technology will also help expand access and enhance the quality of healthcare and will serve to decrease the pressure on the healthcare system while improving the quality of care and quality of life for patients.
Centralized cloud-based infrastructure will remain at the center of IoT applications. It is expected to offer low-cost and scalable computing. New and upcoming IoT platforms will provide advanced services such as predictive maintenance, visualization, public surveillance, remote device configuration, home automation, and so on.
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Sneha Bokil is a Senior Editor with OnDot Media. She writes editorials on an array of topics ranging from IoT, AI, ML, and cloud computing, among others. She has over 9 years of experience in the field of content creation, where she has written on technology, both enterprise and consumer, and finance.
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