IoT industry trends for 2023. What’s new in the Internet of Things?

The Internet of Things (IoT) is a technology that enables communication and data exchange between a variety of devices. This makes it possible to optimize business processes, as well as increase the level of security during their execution. New trends are successively emerging within IoT, which we, as the CosmicWeb team, are constantly monitoring in order to offer better services to customers. In this article, we will talk about the most important IoT trends for 2023.

IoTaaS

What’s behind this acronym? It refers to Internet of Things as a Service, or Internet of Things as a Service. The idea behind IoT is that it should be possible to automatically exchange data between distributed devices. But how to make this happen if operating systems and Internet protocols are not integrated with each other? It is IoTaaS that comes to the rescue.

It’s a solution that, through the cloud, provides access to all the resources needed to make communication between IoT devices used in a company possible. Thus, providers no longer offer only selected components, but provide a comprehensive service that makes it possible to use the Internet of Things on a massive scale.

IoTaaS is a model that works like SaaS (Software as a Service). This means that it does not require the installation and running of software on the customer’s devices. In exchange for recurring fees, the provider takes over the responsibility for ensuring the continuity of the service. It is the one who takes care of system management, troubleshooting and technical support.

IoTaas is a useful solution for many businesses, including:

  • start-ups, which often face a lack of capital necessary to purchase expensive software,
  • large companies with a huge number of devices that are difficult to manage centrally.

You’re probably wondering why IoTaaS is one of the most important trends within IoT in 2023? This is determined by the many benefits of companies using this solution. These include:

  • cost reduction – you don’t have to spend a lot on buying IT infrastructure (such expenses discourage some companies from investing in IoT),
  • time savings – central management of all data facilitates the execution of business processes,
  • scalability – there are no obstacles to expanding the system operating in the company with new components, as well as integrating legacy solutions with it,
  • the ability to interact with new partners and even entire ecosystems, which facilitates gaining a competitive advantage in the market,
  • quickly gaining access to modern technologies that are based on, for example, machine learning or predictive analytics.

IoTaaS is a great way to take away the financial and usage barriers that are associated with implementing IoT-based systems. With this solution, companies no longer need to fear investing in this technology.

Metaverse

What is the metaverse? The term was first used in Neal Stephenson’s novel „Blizzard,” published in 1992. „Blizzard.” It depicted a virtual world in which people lead normal lives, doing work or participating in various games. The essence of the metaverse in the modern sense of the word is the transfer of the real to digital reality. It becomes a place for:

  • meeting with friends from all over the world,
  • entertainment, allowing participation in various games,
  • performing professional duties using instant messaging or text editors,
  • organizing interesting events, such as cultural ones.

The Metaverse is an open world that has no owner – there are only co-creators, developing the universe in order to offer users interesting solutions. But what role do IoT-based devices play in all this? Without them, the world of the metaverse simply can’t work, as they make it possible to collect data from the physical world and then transfer it to virtual reality. This makes it possible to:

  • create digital representations of objects that allow you to test specific solutions and perform simulations – these are digital twins, creating the basis for effective decision-making in process planning and management of corporate resources,
  • build virtual offices with any number of screens that can be accessed from anywhere in the world,
  • launch store concepts where customers can get acquainted with and buy the brand’s products,
  • exchange resources between different systems and platforms based on a single identity or currency.

The metaverse is intended to be the successor to the Internet. It will be accessible through VR goggles, for example. Admittedly, the metaverse is only a concept that is in the planning stage. However, the intense activity involved in its construction makes it one of the most important and most discussed trends in 2023.

Industrial Internet of Things

IIoT (Industrial IoT) is a concept that enables the use of the Internet of Things in manufacturing, logistics and transportation companies. It is the most important element of Industry 4.0, or the fourth industrial revolution. It assumes the widest possible use of data from various sources, which enable:

  • monitoring the execution of processes – this makes it possible to improve them (you can, for example, update the routes on which transport vehicles move), quickly detect where failures occur, which makes it easier to remove them, and prevent risks to employees thanks to temperature or dust sensors,
  • ensure close coordination between processes such as procurement and production – in logistics companies, this is possible thanks to constant inventory control and organization of deliveries when raw materials are running low,
  • reducing company costs – for example, motion sensors placed in lamps provide significant power savings, and digital workflows reduce paper consumption; IIoT is also a great way to eliminate production downtime due to machine malfunctions.

In addition, IIoT makes it possible to create replicas of physical objects, such as warehouses or autonomous vehicles. This makes it possible to see exactly how they function and adapt them to the needs of users.

The Industrial Internet of Things is one of the most important trends, which is why the CosmicWeb team is constantly keeping an eye on the news emerging within its framework. For example, we are examining how IIoT can help our clients so that there is a streamlining of business process execution and improvement of business efficiency.

Internet of Things in healthcare and other industries

The year 2023 is expected to be extremely busy when it comes to the development of IoT technologies within healthcare. The value of medical devices running on the Internet of Things is then expected to reach $267 billion. Such devices are useful for:

  • remotely monitoring patients – this uses data acquired through sensors or smartphones,
  • creating virtual surgeries and emergency departments, where expert medical advice can be obtained remotely.

A project being developed by Elon Musk called Neuralink promises to be revolutionary. According to the owner’s assurances, its result will be the creation of brain-computer interfaces (BCIs), thanks to which it will be possible to decipher nerve impulses and decode them to perform specific tasks. The technology is expected to lead to the recovery of sight for the blind, as well as restore full function to paralyzed patients. Even if this sounds overly optimistic, the fact is that IoT is already playing a major role in medicine, and in 2023 the trend related to it will get even worse.

IoT is being used on an increasing scale not only within healthcare, but also in other industries. We have already mentioned logistics and transportation. Another example is agriculture, where smart sensors and sensors are being used to monitor a variety of parameters, including the amount of rainfall, moisture levels or soil pH. This is used to increase production efficiency, constantly control crop-related costs and prevent risks such as plant diseases.

IoT security

Due to the extremely intensive development of the Internet of Things industry, there is a growing concern in the public space about the risks associated with the use of IoT devices. Work is underway in the European Union to provide a more effective and robust security framework for IoT equipment. It may be possible to introduce regulations in 2023 that will protect users from data breaches even better than before. These will be based on the findings and experiences of various teams, projects and platforms, including SecureloT, SEMIoTICS or ENACT DevOps.

In the United States, on the other hand, a labeling system for IoT devices is being designed, which would allow users:

  • obtain reliable information about risks in the virtual world associated with the use of the Internet of Things, such as phishing attacks,
  • compare products in terms of their cyber security level.

In the article, we presented trends for 2023 as far as the Internet of Things is concerned. As you can see, they involve forward-looking ideas that can completely change the way modern people function, making it much easier for them to perform many tasks and contribute significantly to the technological revolution. At the CosmicWeb team, we are looking forward to further developments in the metaverse or IIoT mainly because we want to use the innovative ideas associated with them when building applications for our clients.