IoT Application Development Trends to Watch Out in 2021

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IoT Application Development Trends to Watch Out
in 2021
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• IoT, a term that not many businesses were aware
  of a decade ago, has now become a vital
  technology for improving monitoring, enhancing
  security and enabling proactive decision making
  in diverse industries. From Banking and Finance
  to Manufacturing and E-Commerce, businesses have
  successfully established industry-specific IoT
  use cases to make steep progress.
•  
• With its market size poised to reach the 1.6
  trillion mark by 2025, new and emerging
  businesses have also started to find
  opportunities to scale up with IoT solution
  implementation. It is important to note that IoT
  use cases will continue to expand in the years to
  come, however, in this article we have compiled
  the list of four IoT use cases/trends that are
  being leveraged in by a broad-range of industries.

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List of Four IoT Use Cases

• Predictive Maintenance
• Smart Metering
• Asset Tracking
• IoT in Healthcare

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Predictive Maintenance

• It is important to keep business assets power
  plants, solar panels, quality control machines,
  etc. up and running. However, in cases when the
  specific assets are non-operational or perform
  low, it increases the operational expenditure and
  affects the quality/performance of machines. By
  leveraging predictive maintenance engines
  developed by IoT solution providers, businesses
  address the performance issues much quicker.

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Smart Metering

• Smart meters are internet-enabled devices that
  measure energy, water or power consumption in a
  home or a building. Such IoT Services are
  incorporated by power companies to monitor
  consumer usage and to adjust prices based on the
  power consumption. The data received is used for
  reducing energy theft, enhancing power
  monitoring, improving forecasting, and to manage
  operations remotely. The use of smart meters are
  proving to be a game-changer for power companies
  as they monitor energy utilization levels of
  organizations/individuals.

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Asset Tracking

• Asset tracking IoT services are indispensable for
  most shipping businesses and manufacturing firms.
  Efficiently tracking the location of goods and
  fleet in real-time, these asset tracking
  applications are the new normal for shipping
  businesses. By including an asset tracking
  application in business setup, logistics and
  supply chain operations are streamlined as
  delivery is done on time while the inventory
  levels are also maintained with ease.
• Some shipment companies leverage internet-enabled
  asset tracking software that uses sensors to give
  real-time temperature information of containers.
  Thus with regulated temperature, perishable goods
  are kept fresh for longer durations. However,
  only a small proportion around 15 of those
  businesses actually have a proper asset tracking
  software in place, though the percentage is
  surely going to rise with more IoT solution
  providers raising the levels of their IoT
  services.

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IoT in Healthcare

• Before IoT came into picture, patients
  interaction with doctors was limited to physical
  visits, tele and text-based communications. There
  was no way to monitor a patients health for
  continuous periods and give proactive
  recommendations. IoT enabled devices have made
  remote monitoring possible which is used by
  physicians to deliver superlative care to
  patients.
• The data collected through IoT devices like
  fitness bands, glucometer and others allows
  physicians to decide the best treatment process
  for an individual.

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In a Nutshell
Incorporating an IoT solution in the business
setup enables real-time data access and
performance monitoring for enterprises. Moreover,
with the use of other transforming technologies
including AI and Blockchain with IoT enabled
solutions, organizations experience more accurate
and secure data access in an IoT network.
However, the world of IoT enabled devices
continues to expand as businesses come up with
new industry-specific use cases.
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Source Url-
https//datafloq.com/read/iot-application-developm
ent-trends-watch-out-2021/9162