IoT trends to keep an eye on in 2024 and beyond

The Internet of Things (IoT) is transforming how machines and devices interact with the world, embedding intelligence, monitoring, and connectivity across various sectors, from consumer to commercial and civic applications. In 2023, the expansion of 5G and the anticipated arrival of 6G technology, as reported by IEEE, underscored the importance of faster connectivity, especially in health applications such as telemedicine and remote surgeries. The impact of these advancements has been significant, with 54% of survey participants citing 5G's benefits for health record transmission and telemedicine.

Throughout 2023, challenges in the semiconductor supply chain, especially post-pandemic, drove international efforts to diversify production across Asia, North America, and Europe. Although semiconductor demand dipped due to inventory surpluses, it is expected that 2024 will see an increase in demand for these essential components, further fueling IoT growth. Coupled with advancements in generative AI, such as ChatGPT, industries are set to benefit from enhanced IoT data analytics and real-time insights derived from AI-driven systems deployed at the edge and in data centers.

Looking forward to 2024, several factors will drive IoT growth, including more AI support for IoT in cybersecurity and supply chain automation, widespread connectivity through 4G/5G networks, and decreasing costs of IoT components due to semiconductor oversupply. Technological innovations like chiplet packaging, non-volatile memory, and system disaggregation will lead to more efficient data processing, reduced power consumption, and specialized IoT applications. These advances will push the IoT ecosystem into a new era of interconnected intelligence, shaping how industries operate globally.

source: https://www.techtarget.com/iotagenda/opinion/IoT-trends-to-keep-an-eye-on