FUTURE OF IOT

26 July 2025

Introduction:

The future of IoT has the ability to be limitless, Advances to the industrial internet will be increased through increased network agility, included artificial intelligence (AI) and the ability to deploy, automate, orchestrate and secure various use cases at hyperscale, the ability is not simply in enabling billions of devices simultaneously but imposing the large volumes of actionable information which can automate various business processes, As networks and IoT platforms evolve to meet these problems, service providers will move deeper into the IT and web scale sectors, generating entirely new revenue streams.

How the Internet of Things is Impacting Technology

The IoT represents one of the most powerful transformative influences on the tech landscape today, with influences on industry verticals that consist of manufacturing, aerospace and defense, independent vehicles, smart cities, connected fitness care programs, and more. To quantify the impact of the IoT, we can look at adoption costs for IoT devices as well as projections for future growth.

A McKinsey & Co. report finds that the number of organizations that have implemented IoT technology increased from 13% in 2014 to 25% by July 2019. The same record projects that the number of connected devices deployed around the world will increase to 43 billion by the year 2023. Representing a three-fold growth in the number of devices over a five-year period, this is due. In part to the over 200 current enterprise applications that have been recognized for IoT devices. A separate record compiled by Statista suggests that by 2025, the total installed base of IoT-enabled hardware will amount to over 75 billion devices.

With analysts usually in agreement about the massive positive growth trajectory of the IoT, it begs the question: where will all of these devices be deployed? Who will benefit? IoT devices are already being deployed in industrial, commercial, and residential contexts. While some of these applications are already delivering huge financial benefits, other regions of IoT application are still in their developmental infancy. Let's take a look at a few of the markets where IoT devices are re-shaping the future.

The Future Development of the IoT

The future is bright for the improvement of the IoT, with many indicators suggesting that this rapidly increasing market segment will continue to grow and develop into the future:

· The average cost of IoT sensors fell from $1.30 USD each in 2004 to just $0.38 each in 2020, significantly growing the affordability of assembling devices.

· Global transistor production has increased to keep up with the demand for IoT devices. The total quantity of transistors in the world increased from 2.4 billion in the year 2000 to 9 billion by 2020.

· Most IoT programs use public cloud infrastructure, a service whose expenses have continued to decline. The average base price for Infrastructure-as a Service decreased by almost 30% over a four-year period starting in 2014.

· One of the most significant drivers for IoT increase is the cost of connectivity. In the 6 years between 2014 and 2020, the cost of moving 1GB of information through wireless information systems decreased by a factor of 10.

As computing hardware and services continue to decline in cost, the growing affordability of IoT devices and their associated programs will continue to drive innovation and adoption throughout enterprise verticals.

The Future of IoT Devices

While the future of IoT devices looks promising, there are still a couple of hurdles that have yet to be overcome. The primary challenges for companies growing IoT technology today are:

Security - Many of the earliest IoT devices lacked any concerns for device safety, making it surprisingly easy for someone with a piece of specialized know-how to execute cyber-attacks against IoT devices, including home safety systems and linked systems embedded in vehicles, The largest upcoming task for the IoT will be securing devices properly against cyber-assaults to ensure a secure and linked future.

Interoperability - The concept of device interoperability is that IoT devices should follow a common communication protocol that makes it easy to coordinate them with existing devices and technologies. This is specifically an issue in healthcare programs where device interoperability problems can suggest poor coordination between connected wearables and EHR software systems, for highly regulated industries, IoT manufacturers have to work to increase a common standard of interoperability that ensures IoT devices can seamless communication with different devices and information systems with inside the field.

Product/Market Fit - While the concept of the IoT has many people excited, these are entire industries that have yet to establish a product-market fit that can lead to high market penetration. While some areas like manufacturing have had achievement with the early adoption of IoT systems, other regions like smart retail have seen little market penetration so far. IoT device manufacturers have the capabilities to architect an great world for customers, but to be successful they'll need to concisely capture consumer goals and deliver the experiences that consumers want.

Summary

IoT devices represent a fast-developing market segment that combines cloud computing and connective technology with embedded systems and microcontroller architecture.

Are you developing an IoT device that will alternate the future, developing a standard for device interoperability, or innovating new ways of securing IoT devices? For embedded engineers building products for IoT applications, Total Phase offers the development and diagnostic tools needed to accelerate the development cycle while optimizing product overall performance and meeting user needs.