New Year, New Trends: 4 IoT Big Points in 2023

 

The Internet of Things, or IoT for short: a technology that is constantly evolving. Smartphones, smart homes with smart TVs and networked home automation, smart alarms and cameras, smart machines in the workplace, smart vehicles, smart cities: by 2023, it is predicted that more than 43 billion devices will be connected to the Internet. They will generate, exchange, collect and help us use data in a wide variety of ways. Business magazine Forbes has defined the top four trends that will shape the IoT year 2023.

 

Trend 1: Digital twins and the enterprise metaverse

For enterprises, one of the most valuable applications of the metaverse will be bridging the gap between the real and virtual worlds. Leveraging data from IoT sensors makes it possible to create increasingly realistic digital twins of many different systems - from production facilities to entire shopping malls. Users will then be able to enter these digital twins using metaverse technologies such as VR headsets to better understand how they work and how adjusting individual variables can affect business outcomes.

Examples of this technology convergence already exist in retail and industrial settings: store planners monitor foot traffic in real time and adjust displays and promotions accordingly. They can then observe how this affects customer behavior and ultimately sales. Designers in factories and production facilities experiment with different machine configurations to highlight potential safety issues and predict possible failures.

 

Trend 2: IoT security

IoT devices make life easier and more convenient, but they also open doors for new and varied forms of cyberattacks. The number of connected devices will increase tremendously in 2023 and beyond - so companies, device manufacturers and security professionals will increase their efforts to install effective protective walls to keep our valuable data safe.

In the U.S., the White House National Security Council has said it will introduce standardized security labels for consumer IoT device manufacturers by early 2023. These will help buyers understand what risks may be posed by certain devices they use in their homes. The UK is also expected to introduce its own product safety and telecoms infrastructure legislation.

 

Trend 3: IoT in healthcare

A huge business, the global market value for IoT-enabled healthcare devices is expected to reach the impressive sum of $267 billion by 2023. One of the biggest changes is the use of wearables and sensors in the home, allowing healthcare professionals to monitor the condition of patients outside the hospital or doctor's office. This enables around-the-clock care while freeing up valuable resources for patients who need immediate and direct care. An important keyword in this context is the "virtual infirmary": thanks to sensors and telemedicine, doctors and nurses oversee the monitoring and treatment of patients in their own homes.

 

Trend 4: Governance and regulation

Data protection is becoming a more pressing issue: by its own admission, the EU is looking to introduce legislation in 2023 that will require smart device manufacturers and operators to follow stricter rules on how data can be collected and where it can be stored. 2023 could well be the year that governments globally begin to address the legal and social implications of the growing Internet of Things. 

Where exactly the journey will take us, we don't know. But one fact remains: The Internet of Things remains one of the most exciting and transformative technologies around. We will keep you up to date!