5 Exciting IoT Trends to Look Out for in 2022

The Internet of Things (IoT) has made headlines time and time again over the last few years, but what does this buzzword mean? IoT refers to any device that can connect to the internet remotely and communicate with other devices, sensors, or software. 

This list of 5 exciting IoT trends to look out for in 2022 will guide you on how far the industry has come over the past few years and where it might be headed in the medium to long-term.

Cloud computing

As IoT expands, we’ll see a massive surge in demand for cloud computing. Not only will things need on-demand storage and processing capabilities, but they’ll also require an ‘always-on’ internet connection.  

In 2020, the Internet of Things (IoT) market was valued at $ 330.6 billion and is predicted to reach $ 875.0 billion by 2025, with a compound annual growth rate (CAGR) of 26.9% during the forecast period. 

Therefore, it’s no surprise that tech giants like Amazon are investing heavily in cloud infrastructure. In fact, in addition to IoT devices, there will be an increase in smart buildings and industrial IoT systems (think factories and power plants). 

By 2025, there will be 3.74 billion cellular IoT subscribers, a compound annual growth rate (CAGR) of 16&. As 5G is rapidly deployed, the adoption of the IoT will accelerate.

Artificial Intelligence

It’s no longer an industry-specific phenomenon; AI is becoming increasingly crucial across all industries as businesses leverage their ability to digest data and make smarter decisions. This trend will continue in 2022 and beyond as AI rapidly expands into non-industrial IoT, allowing more devices—from smartwatches to earbuds—to connect with one another. 

During the forecast period (2021-2026), Artificial Intelligence (AI) in the IoT market is expected to grow at a CAGR of 27.3%.

In 2022, we should expect consumers to be surrounded by many devices that know them better than ever before—and can serve their specific needs accordingly.

Augmented Virtual Reality

Connected devices will soon be able to do much more than gather data. They’ll also be able to see and sense their surroundings, which opens up new possibilities in augmented virtual reality (AR) headsets and wearables. Over the upcoming years, it’s likely that many of our household items—our fridges, tablets, watches, and even our shoes—will be connected to a network and will have access to an AR headset where we can manipulate objects just by moving our hands. 

Not only would these advancements allow us to become more efficient at performing everyday tasks, but they’d also help us stay safer. For example, imagine if all cars were connected: If one sensed danger ahead and automatically applied its brakes, lives could be saved.

Security Vulnerabilities

IoT devices are made up of hardware and software, both of which have vulnerabilities. For example, in 2017, security researchers found that fitness trackers were vulnerable to snooping by hackers. These vulnerabilities extend further as companies become more reliant on IoT devices for various purposes.

A global study found that 32% of companies that have already adopted IoT view data security issues relating to a shortage of skilled personnel as the most critical concern for their IoT ecosystems. Among these companies, 33% consider device attacks their top problem. OEMs will likely start looking at embedding IoT security solutions into devices to nullify these attacks, meaning that IoT devices should be increasingly secure and integrated further into everyday life as business and consumer confidence increases. 

Blockchain technology

This technology is meant to offer a platform through which businesses can exchange digital assets. It’s even being used in China to track financial transactions on Alibaba, and it could significantly reduce cybersecurity concerns as IoT becomes more widespread. Already, banks and other companies are starting to use blockchain tech—and five years from now, you might not be able to conduct much business without it. 

For example, think about how many IoT devices we already have connected to Wi-Fi: They’re capable of transmitting data about their status, but who knows if that information is reaching its intended destination? 

Blockchain technology could ensure that data isn’t lost or corrupted along its journey. Also, because there are so many different types of IoT devices out there—from wearables to self-driving cars—it makes sense that some standardization would occur over time.