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Top Internet Of Things Trends in 2023
It is predicted that more than 43 billion devices will be connected to the Internet in 2023. They will generate, share, collect and help us use data in all ways. Let’s take a look at some of the top IoT trends that will affect our everyday life habits in the coming year.
Healthcare
According to Forbes[1], The Internet of Things has huge potential in healthcare. Pundits see the sector as leading in IoT adoption and innovation. The IoT-enabled healthcare device market is expected to be worth $267 billion by 2023[2]. One of the biggest changes is the use of wearable devices and home sensors that allow healthcare professionals to monitor patients' conditions outside the hospital. The concept of a virtual hospital ward available 24/7 is so important for patients who need monitoring and treatment at all times. For example, for patients with diabetes, to measure sugar levels, or for heart monitoring for cardiac patients.
You may know or not yet that Walletmed, a pivot of Walletmor wants to take over the diabetics market! Every day, hundreds of millions of people around the world are stitching their fingers or changing the sticky patches to measure their glucose levels, which is painful, inconvenient, and pricey. Walletmed wants to improve the quality of life of diabetics using the experience and knowledge gained in the field of smart implants to create an implant for glucose monitoring. We are working on an implant that will be irreplaceable, convenient to use (connected to a smartphone), several dozen times cheaper than standard glucometers (within 10 years), and multifunctional (it will also be possible to pay with it in the same way as with Walletmor implants)
On the other hand, IoT's ability to improve lighting and temperature control will help hospitals and clinics save on costs. IoT will make smart buildings out of healthcare facilities, for example. IoT-connected robots can also be deployed in hospitals to disinfect surfaces with special UV light.
Security
IoT devices make our lives easier and more convenient, but at the same time, the more devices connected to the Internet, the more chances for potential cyberattacks. The trend is simple - the number of IoT devices will continue to grow, which is why the issue of protecting sensitive user data is becoming a priority for experts. To prevent this, stricter security measures will be put in place in 2023 to lower the risk of online data exposure. Robust IoT consumer device security will go a long way in preventing cyberattacks/hackers. The United States National Security Council has stated that it intends to introduce standard security signage early next year. Also, The United Kingdom is expected to introduce its Product Security and Telecommunications Infrastructure (PTSI) bill. Spending on IoT security measures is projected to hit $6 billion in 2023 - a 300% increase over 2018[3].
Metaverse
The metaverse is on the rise. As per Grand View Research, the global metaverse market is forecast to grow at a compound annual growth rate (CAGR) of 39.4% from 2022 to 2030[4].
For one business, one of the most valuable uses of the metaverse will be supporting the world created with the virtual. Through the use of data from IoT sensors, it will be possible to build more and more realistic functions of twins of many different systems, like manufacturing or shopping malls. Business users will be able to enter the module of these twin modules through the metaverse technology, using experiences such as VR device sets to better understand how to enable and how to enable a single add-on that can work on business outcomes. In the industrial environment, the use of the metaverse allows designers of factories and manufacturing plants to experiment with different machine configurations, as well as identify potential safety issues and predict when failures might occur. This serves to optimize production and reduce unnecessary expenses.
What can we be sure of in 2023? As technology develops and matures, the Internet of Things will play an increasingly important role in transforming cities into smart cities around the world, helping to drive economic growth, improve the quality of life for residents and create new business opportunities.
[1] https://www.forbes.com/sites/bernardmarr/2022/11/07/the-top-4-internet-of-things-trends-in-2023/?sh=297ed82a2aea
[2] https://www.satellitetoday.com/iiot/2018/10/12/global-healthcare-iot-market-expected-to-hit-267-billion-by-2023/
[3] https://www.juniperresearch.com/press/iot-security-spend-to-reach-6-billion-by-2023
[4] https://www.grandviewresearch.com/industry-analysis/metaverse-market-report