Is IoT Technology Growing And Sculpting Our Future?

The IoT market size is estimated to reach USD 1,463.19. Is this figure telling us that IoT is going to shape our future? Read more to see.

Is IoT Technology Growing And Sculpting Our Future?

When I say IoT what comes to your mind?

I am pretty sure you think about automatic lights, your drapes lifting from your windows on their own, your coffee machine pouring coffee for you and so much more. 

I am right, aren’t I…

Well at some point the technology is trying to transform this thought into reality.  There is no doubt at all that the current technological advancements in IoT are in their golden age, altering the path of different industries by storage and processing of data in a distributed manner thus leading to higher efficiency and productivity.

If you are not tech-savvy and wondering what IoT is then here is an easy explanation for you. IoT is an ecosystem of interconnected devices that can communicate with each other. These highly smart devices connected together can accumulate, share and analyze information. Subsequently generating actions accordingly.

It is safe to say that IoT is growing at an exponential rate. Research portrays that in 2025 there will be 75 billion smart devices online. This upward trajectory in IoT technology is because of its use in mobile app development, software development, and also its high use in the healthcare industry

Another key reason why IoT is advancing so much is because of the inherent business value attached to it like smart wearables, smart homes, smart buildings, smart factories, automatic cars, wireless sensors, and much more. The idea of this level of connectivity aids consumers to experience a comfortable and secure household where they have autonomy on everything and can monitor anything, anytime, and anywhere they want. 

Other than this, the current technological trends have also resulted in an increase in IoT. From current technology, I mean an increase in blockchain technology. Because blockchain can promote data security in IoT devices. Additionally, it also enables successful interaction between multiple networks and allows secure record-keeping which is why blockchain is great for IoT technology.

Also, the AI support to IoT is also responsible for its growth as they pair to provide commercial solutions like automating various processes and predictive maintenance for different industries which leads to a significant reduction in operating cost and increase in efficiency. And then comes the fascinating idea of smart cities which has also urged the governments to work on IoT technology to facilitate the citizens better. Because with the aid of IoT technology the governments will be able to implement various intelligent solutions for citizens like citizens safety, sustainable development, and energy utilization, 

But the question still stands… Does IoT possess the potential of transforming our future? Well, its future growth statistics show that we are going to use IoT to a great extent in our future.

iot-technology-future-infographicIndubitably, IoT technology is one of the fastest-growing technologies all around the globe with millions of devices added to its gigantic network every day. 

In addition to this, the leading technology developers are also quite optimistic about the endless possibilities of IoT technology. So it’s time to gear up and get ready for an IoT-filled future.