According to Mordor Intelligence, the IoT technology market value is expected to rise to $1.39 trillion by 2026. As the market landscape evolves, it’s critical for businesses to monitor how things are changing and what IoT trends are shaping markets around the world in 2022.
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Trend 1. ALoT
Since artificial intelligence technologies are heavily data driven, IoT sensors are an immense asset to the machine learning data pipeline. Research and Markets reports that AI in IoT technology will reach a value of $14,799 million by 2026.
Trend 2. IoT Connectivity
Recently, more infrastructure has been developed for newer connectivity types that make IoT solutions more feasible. These are connectivity technologies like 5G, Wi-Fi 6, LPWAN, and satellites.
Trend 3. Edge Computing
Edge networks process information closer to the user and lighten the load of the entire network for all users. Edge computing reduces latency of IoT technology, and also has potential to increase the security of data processing.
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Trend 4. Wearable IoT
Smart watches, earbuds, and extended reality (AR/VR) headsets are important wearable IoT devices that are making waves in 2022 and will only continue to evolve. The technology has immense potential to aid in medical roles due to its ability to keep track of patient vitals.
Trend 5. Smart Homes & Smart Cities
According to Mordor Intelligence, the smart home market will have a CAGR of 25% between now and 2025, allowing the industry to reach a size of $246 billion. An example of Smart City technology is Smart streetlights.
Trend 6. IoT in Healthcare
Use-cases for IoT technology in this sector vary. For example, WebRTC unified with IoT networks can provide more efficient telemedicine in certain areas.
Trend 7. Connected Networks Aid Manufacturers
One of the most important results of the expansion of IoT sensors in manufacturing is that these networks are powering advanced artificial intelligence applications. AI can’t provide solutions like predictive maintenance, defect detection, digital twins, and generative design without critical data provided by sensors.