The IoT trends of 2024

The Internet of Things is already part of the daily lives of many people around the world. This vast network connects smart devices of all types, providing comfort and convenience while opening up new opportunities and creating new habits.

To increasingly improve the way this happens, IoT gathers data about how people use devices in the real world. By collecting this data, companies have the ability to adjust their products to meet their customers' needs.

This data helps even the biggest names in technology learn how people use their products. Many small businesses are also joining IoT Trends to learn how to use their data to help others do everything from live healthier, longer lives to better optimize their fuel consumption.

This is why so many people point to IoT as one of the revolutionary systems that will change our lives forever. That's why it's so fascinating to check out its latest developments.

What are the trends in the world of IoT?

IoT is increasingly embedded in our daily lives and beyond. These are just some of the trends we are seeing.

Connected Homes and Enhanced Essentials

One of the most interesting possibilities and implementations of IoT is the development of connected homes. The connected home concept aims to improve efficiency and save energy by “making smarter” most household objects, from refrigerators to curtains, locks, lighting and much more.

Furthermore, connected IoT devices make the work of pumps, washing machines and dryers and other machines faster and more efficient. While also reducing costs and eliminating human error, IoT will also make it easier to monitor and maintain assets, as many devices are now built with wireless technology.

A New “Industrial Revolution”

Using smart machines in factories helps improve and increase automation at all levels. Small businesses can benefit from IoT automation in 2024 thanks to accessibility improvements.

By building IoT Automation into business models, companies have the ability to improve their overall productivity and efficiency. This technology also allows users or employees to access wearable devices that help them do their jobs better and keep their equipment in good condition.

Incredible Advances in Healthcare

The healthcare sector has already seen many improvements thanks to the Internet of Things – and will continue to do so. As the cost of connectivity and storage increases, IoT solutions will make healthcare even more accessible.

Historically, healthcare organizations and facilities only collect data at discrete moments and these processes have remained largely stagnant over the years. IoT changes this as it now provides this industry with the ability to continuously track and analyze the health of individuals.

IoT can support home patient care, access to pharmaceuticals, and medical transportation when healthcare professionals cannot provide direct care. In the near future, IoT will continue to make healthcare more accessible and affordable.

Optimized features

IoT already helps and will continue to help companies by optimizing their resources. For example, companies can install smart sensors in bathroom stalls and validate cleaning schedules.

IoT also provides companies with a more holistic view of their customers' behavior over time, as a connected enterprise improves its efficiency through the use of data from IoT devices. A connected company will ultimately increase its profits.

Greater efficiency and productivity

IoT is closely related to Big Data and is a key component of this emerging technology. Big data paired with IoT allows companies to monitor their operations and collect information from their users to make smarter business decisions.

These combined technologies help companies collect, organize and report a huge amount of data to improve their services or products. It also helps organizations predict the best new markets to explore. For example, with more innovative stores, customers can make purchases without interacting with employees through IoT devices.

IoT also allows companies to improve their productivity over time. Using IoT to develop and install applications in smart factories is already a trend and will continue to be a trend in the near future.

In an industrial application, this technology makes factories more efficient, connecting the factory floor to management for greater visibility into productivity and overall performance. A connected company increases profits and revenues by identifying bottlenecks in its processes and ensuring maximum efficiency.

More global usage

North America and Europe have started adopting IoT technologies faster than the rest of the world. However, countries around the world are recovering quickly. According to a recent report, European and Asia-Pacific companies plan to invest in and accelerate the implementation of the Internet of Things next year.

Expansion with 5G

By pairing IoT devices with the power of new 5G networks as cell phone carriers expand network availability, companies will have the ability to develop services that would not previously work due to a lack of technical infrastructure or due to their logistical difficulty.

Using 5G networks together with the Internet of Things means faster data transfers, wider coverage and greater energy efficiency. However, 5G networks present some security concerns that companies must monitor.

Cybersecurity Concerns

While most future advancements involving the Internet of Things are predominantly positive, these devices present some cybersecurity risks. An infected or hacked device on an IoT network exposes the other devices it is communicating with to potential cybersecurity risks.

According to a GSMA Intelligence Report , 15% of companies with IoT devices deployed for their operations do not have up-to-date security protocols for these tools. This lapse in processes, procedures, and protection in the cybersecurity domain is definitely something that companies should address as possibly the most important IoT trend of 2024 for both companies and development teams.

The rest of 2024 and beyond will undoubtedly bring more use cases and implementation of the Internet of Things and its devices. Companies already using this revolutionary technology will continue to see advances in the technology itself, as well as in what it can do for companies in all sectors on a global scale.

If you liked this, be sure to check out our other IoT articles.

• Is your IoT security robust enough?
• Staff augmentation for the Internet of Things
• How to assess security and privacy strengths and weaknesses in IoT devices
• Chips, supply chains and IoT: challenges for a post-pandemic world

Common questions

1. What are some of the current security risks associated with the Internet of Things?

There are several security risks associated with the Internet of Things, such as the lack of standardized security protocols for IoT devices, potential data breaches given the huge amount of data involved, malware infections, and lack of security updates. Some vulnerabilities can be avoided, such as weak passwords.

2. How does the expansion of 5G networks impact the development and implementation of IoT devices and services?

With the expansion of 5G networks, we are seeing some changes in the development and implementation of IoT devices and services, such as increased speed and bandwidth, better reliability, lower latency, and greater device density.

3. What are some of the challenges companies may face when implementing IoT devices and automation in their operations?

There are many benefits to IoT, but there are also some challenges when you implement IoT devices and automation in your operations. For example, there are security and privacy concerns as well as cost issues. You may have trouble integrating IoT devices into your existing systems and face data management difficulties. Additionally, you will need to train your workforce on how to use these IoT devices.