Tuesday, June 6, 2023

Biggest IoT Trends for Business in 2023

The Internet of Things (IoT) refers to the growing ecosystem of everything online, the connected objects that share our reality – and the trends to come.

The Internet of Things trend is here to stay. It’s certainly not the willow-the-wisp that some predicted years ago.

The business grew to include great opportunities with Internet phones, office equipment like printers and scanners, and industrial gear.

The Internet of “Things” is a movement driving the increasing digitization and datafication of society in many new and engaging ways.

These interconnected objects enable self-driving automobiles, autonomous industrial robots and remote medical devices that diagnose patients and perform surgery.

The average number of connected IoT devices per US household is 22, with about 13.1 billion connected devices now and expected to grow to about 75 billion by 2025.

So, let’s take a look at some of the most likely drivers and developments coming in 2023:

healthcare iot

Given the global events of the past few years, it is no surprise that healthcare has been one of the most active IoT growth sectors during 2022. Healthcare is a broad use case, encompassing everything from public cameras to fitness bands and trackers to the rise of telemedicine. and remote healing. Most of us do some sort of exercise activity on our watches and TVs, and this is just the beginning.

Medical devices are regularly connected through devices nowadays. The defibrillator, oxygen pump and insulin drip can be monitored simultaneously and adjusted remotely. The collected data is stored in private files for future reference by doctors and patients.

Health care

Internet of Things (IoT) devices enable doctors to obtain patient data without the risk of bringing together large groups of potentially infectious individuals.

Doctors helping with enabling equipment go beyond a pandemic response. Specialized equipment enables physicians to examine, diagnose, and treat a greater number of patients. They also extend healthcare to areas where physical access to doctors or hospitals is difficult and previously impossible.


As the Internet of Things continues to grow, it gives hackers and trolls more scope – that’s the price we pay for its convenience. According to security analysts, 1.5 billion devices on IoT devices were hacked in the first half of 2022 and this trend is likely to continue in 2023 as well.

Because IoT devices are not as secure as traditional data storage devices – such as PCs or cell phones – they provide multiple entry points to our networks.

Another threat vector is that the IoT is made up of “things” that can be lost or stolen. This fact necessitates an additional layer of security to guard against unauthorized users gaining physical control of IoT equipment.

Many things are changing throughout the industry as manufacturers and others work to weed out gadgets with default passwords and users are becoming more aware of security threats and taking more precautions.

One security threat method is to “hijack” a device’s computational power, which can then be used to create botnets that attack other systems or simply mine cryptocurrency. These botnet clusters of internet-connected devices run multiple bots.

Some of these attacks can be managed using command and control software.

By collecting data on network traffic and usage, connected gadgets help algorithms detect and avoid cyber threats. We’re all getting better at security – but then again – we know black-hat-hackers will get better too.

iot edge

Edge computing and IoT go hand in hand. Simply put, the IoT edge refers to designing devices with analytics onboard so that processing is as close to the data source as possible.

Basically, “dumb” sensors such as cameras or microphones capture data before it goes to the cloud. Next is processing and edge gadgets use smart sensors such as computer vision cameras and natural language processing microphones.

The obvious advantage is faster processing, and reducing network congestion by reducing the amount of data sent to the cloud and back.

Here’s a fact that many device users don’t clearly understand—especially older device users. If a gadget is collecting personal data, users can be certain that the gadget can access the information it holds without a person handing over their device to someone else.

But our devices have the potential to deliver more computing power in smaller, more energy-efficient devices and this is an important driver of business growth – as are better battery and user interface designs.

Edge computing will continue to take off in a big way over the next year and into the future. More entrepreneurs are looking to hybrid cloud ecosystems as these systems are critical to consumer IoT services.

IoT in Industry

The Industrial Internet of Things (IIoT) is having a tremendous impact on how we make items, provide services, sell to customers, and maintain all of these items and systems. Even small businesses are beginning to have access to smart production and logistics facilities at affordable prices – all thanks to the increasing availability of robotics and AI service platforms.

By incorporating IoT computerization into the business model, companies can gain data-driven insights into their activity and processes and be able to achieve unprecedented growth.

Mobile devices continue to explode. It’s amazing how mobile devices can be used for communication, entertainment, training, equipment maintenance and process simulation – all done from a handheld mobile device. And, indeed, mobile use is ubiquitous.

In manufacturing, IoT technology is used to monitor machine performance and predict faults, allowing for more efficient replacement and repair of damaged equipment. IoT solutions also include developing additive manufacturing processes, such as 3D printing, which allow for greater customization and personalization while reducing waste.

IoT for flexible business

In the wake of the massive disruption all businesses have experienced as a result of the COVID-virus onslaught – it is clear that building more resilient and disaster-resilient organizations should be high on everyone’s agenda.

There are likely to be sweeping changes that will affect cyber security. Home and remote work created new threats to business that we’ve seen plenty of in 2022—and data breaches have become increasingly common. Market action and competition and the economy will always be the wild card.

Monitoring supply chain flows continuously drives efficiency and savings and most businesses have noticed that global supply chains are in turmoil right now. Real-time analysis is especially important for companies that are just starting out. In addition to their suppliers, there has been an increased demand from customers in every sector.

IoT monitoring of records, employee hours and duties increases efficiency and makes analysis of employee turnover more compelling. Monitoring also helps in business planning for reduction. After that, IoT technologies that help organizations anticipate and respond to disruption will continue to be a major source of innovation in 2023 and beyond.

Featured image credits: Henri Mathewsentlaurent; pexels; Thanks!

deanna richie

Managing Editor at Readwrite

Diana is the Managing Editor at Readwrite. He previously served as Editor-in-Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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