{"id":22924,"date":"2022-09-02T09:30:00","date_gmt":"2022-09-02T08:30:00","guid":{"rendered":"https:\/\/www.engineernewsnetwork.com\/blog\/?p=22924"},"modified":"2022-09-01T10:28:19","modified_gmt":"2022-09-01T09:28:19","slug":"seven-technologies-to-watch-in-2023","status":"publish","type":"post","link":"https:\/\/www.engineernewsnetwork.com\/blog\/seven-technologies-to-watch-in-2023\/","title":{"rendered":"Seven technologies to watch in 2023"},"content":{"rendered":"\n

Technology is becoming further and further engrained as the core of our modern world, and the pandemic has only accelerated the adaption of and advancement of new technology in our personal lives and in the business world. Knowing what the next big technological trends are going to be and the direction technology is headed in the business world can give individuals and businesses huge advantages of being ahead of the curve and investing in the right areas. Matthew Margetts reports<\/strong><\/p>\n\n\n\n

The Internet of Things (IoT) is becoming a household name \u2013 and one that has found unique applicability in not only our homes, but in our businesses, workplaces, and cities. The number of installed IoT devices is expected to surge to around 30.9 billion units by 2025. The myriad of different forms of technology has the potential to provide incredible business value.<\/p>\n\n\n\n

They are vital tools for digital transformation and datafication \u2013 and their power lies in performance improvements, as well as problem-solving capabilities. IoT\u2019s importance as a technology trend this year and into the future is the role it plays in the successes of other technologies. For business owners looking to drive evolution, keeping a finger on the pulse of the latest IoT trends is important for agility into 2023 and beyond.<\/p>\n\n\n\n

What is IoT?<\/strong><\/p>\n\n\n\n

Broadly speaking, IoT is the ecosystem of internet-connected smart devices and technologies in our homes, cities, and workplaces that continuously collect data.<\/p>\n\n\n\n

IoT facts and figures in 2022 and beyond: <\/p>\n\n\n\n

\u25cf There are more than 7 billion connected IoT devices currently in operation.<\/p>\n\n\n\n

\u25cf By 2030, 75% of all devices are expected to be IoT.<\/p>\n\n\n\n

\u25cf Worldwide IoT spending is anticipated to reach $1 trillion and this growth rate is predicted to continue in 2023 and beyond.<\/p>\n\n\n\n

Why is the IoT important?<\/strong><\/p>\n\n\n\n

A quick view of the benefits of IoT in business: <\/p>\n\n\n\n

\u25cf IoT solutions help to build resilient supply chains<\/p>\n\n\n\n

\u25cf Improved health, wellbeing, safety, and security<\/p>\n\n\n\n

\u25cf Optimised asset usage and maintenance<\/p>\n\n\n\n

\u25cf Reduced overheads<\/p>\n\n\n\n

\u25cf Improved communication and engagement<\/p>\n\n\n\n

\u25cf Meaningful sustainability and environmental advances<\/p>\n\n\n

\n
\"Seven<\/a>
Knowing what the next big technological trends are going to be and the direction technology is headed in the business world can give individuals and businesses huge advantages of being ahead of the curve and investing in the right areas<\/figcaption><\/figure>\n<\/div>\n\n\n

Technology trends: powered by the IoT<\/strong><\/p>\n\n\n\n

1. Remote monitoring<\/strong><\/p>\n\n\n\n

According to McKinsey, the COVID-19 pandemic accelerated the adoption of digital technologies by seven years. Off the back of global lockdowns, this naturally includes the requirement for remote monitoring and the move towards automated systems. These IoT-based technologies are being adopted to transform everything from building monitoring and machine performance to building occupancy and machine learning.<\/p>\n\n\n\n

2. Modular smart technologies solutions<\/strong><\/p>\n\n\n\n

The preference for individual devices performing multiple functions has given way to networks of devices. This network of devices creates a modular system of individual utilities and processes. The result is a granular view of whole operations, which works toward holistic network benefits.<\/p>\n\n\n\n

3. Data analysis<\/strong><\/p>\n\n\n\n

Data is arguably one of the top strategic tools for businesses. High-quality data plays a role in designing business strategy (what can be monitored can be more effectively managed) and ensuring the integrity of supply chains. Through alerts around deviations from \u201cnormal\u201d data sets, real-time action is also inspired, which can avert disaster and save costs.<\/p>\n\n\n\n

Data also has the ability to inspire high-level compliance, machine learning, customer service, maintenance schedules, safety and security. Additionally, it gives invaluable insights for the purposes of gauging return on investment and preventing wastefulness.<\/p>\n\n\n\n

4. Artificial intelligence, machine learning, and visual inspection<\/strong><\/p>\n\n\n\n

The concepts of artificial intelligence, machine learning, visual inspections, and automation are becoming increasingly commonplace. These functions are all best guided by data insights \u2013 removing the unpredictability and margin of error from human processes.<\/p>\n\n\n\n

5. Advanced networks<\/strong><\/p>\n\n\n\n

As IoT technologies evolve, so too do the networks around them. Improved speed, security, and reliability of networks and connectivity infrastructure are the precursor to IoT sensors, wearables, smart cities and homes.<\/p>\n\n\n\n

6. Smart buildings, smart cities<\/strong><\/p>\n\n\n\n

IoT and smart technologies are being used to optimise various functions within the city environment. This is being done as a means of creating a more engaged public and improving everything from public transport systems to responsible and environmentally conscientious resource utilisation.<\/p>\n\n\n\n

IoT technologies and smart technology solutions have also found their way into businesses, buildings, healthcare, retail, agriculture, and manufacturing. IoT technologies stand to have a bearing on many different facets of these different sectors. This includes vaccination cold chains, predictive maintenance for enhanced equipment management, transport and logistics. The applications are endless \u2013 and are easily tailored to the specifics of a project or long-term strategic objective.<\/p>\n\n\n\n

7. Digital twins<\/strong><\/p>\n\n\n\n

Digital twins are virtual replicas of a physical product, process, or system that bridge the physical and digital worlds. Today\u2019s digital twins use sensors to collect real-time data about a physical item, which is used to create a virtual duplicate of the item. The digital duplicate can be optimised, manipulated and analysed to test different scenarios in a risk-free environment.<\/p>\n\n\n\n

So what are the challenges for IoT?<\/p>\n\n\n\n

Security: <\/strong>According to Kaspersky research published in the first quarter of 2022, 43% of businesses have unprotected IoT infrastructure \u2013 and cybersecurity concerns remain a barrier to IoT systems implementation (as reported by 57% of surveyed businesses).<\/p>\n\n\n\n

As IoT devices become more prevalent \u2013 and as our reliance on them increases \u2013 so security concerns take on renewed importance. Gartner reports that 20% of organisations have experienced cyber attacks on IoT devices over the past three years.<\/p>\n\n\n\n

Chip shortages:<\/strong> The supply of semiconductor chips for IoT solutions has been put under strain by the high demand in recent times, resulting in a chip shortage. This is expected to limit IoT growth by 10-15% in 2022. The good news is that public and private sector efforts by the European Union are designed to meet the challenges of the shortage and make way for achieved growth potential.<\/p>\n\n\n\n

Latency:<\/strong> Traditionally, the optimal effectiveness and speed of data transmission of IoT technologies has hinged on bandwidth capabilities. Network advances will ensure not only that data is transmitted in real time as required by many applications, but also that this process is done securely.<\/p>\n\n\n\n

Smarter Technologies Group provides digital transformation and IoT technology solutions to private and public sector clients. These solutions are powered by OrionTM, The Real-Time Data Network, which is SIM-free, secure, and wireless with advantages around signal penetration and network coverage.<\/p>\n\n\n\n

We believe in using technology to simplify a complex world. Our system of IoT sensors collects data in real-time, communicating this information to a remotely accessible, cloud-based dashboard. Alerts around deviations from predefined data parameters means you can react to undesirable changes to reduce cost and waste, streamline the customer and workplace experience, and to optimise efficiencies and profitability.<\/p>\n\n\n\n

Matthew Margetts is a Director at Smarter Technologies<\/a><\/strong>, digital transformation and IoT technology solutions to private and public sector clients.<\/p>\n","protected":false},"excerpt":{"rendered":"

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