IoT In 2020: 5 Things You Need To Know

As the technology continues to advance, it’s important for individuals and organizations to utilize IoT devices to increase productivity and profitability. Here are 5 IoT trends you can expect to see in 2020.

Humans are in the middle of one of the most revolutionary moments in communication since the invention of the telephone — the “internet of things” or IoT. By connecting all the things in the world, IoT is the logical culmination of the internet itself. We can already see its effects on our lives and businesses.

Smartphones, tablets and other mobile devices do more than let us communicate with others. They track our location, monitor our health, learn our preferences and connect us to other devices. It’s a phenomenon that will impact how all businesses produce, market and grow. Something this complex needs some forethought and data. So, here are five things you need to know about IoT in 2020. Use them to make smarter decisions about your business.   

1. Smart Home Devices Move to The Office

Smart home IoT devices are gaining in popularity. The number of smart homes in the U.S. is expected to hit 28% of total households by 2021. Part of the upward trend stems from the fall of device prices. But, market preferences are changing too. Millennials love home tech. It’s their adoration that’s prompting property owners to integrate smart thermostats and security systems into new homes and remodels. Not to mention, smart home technologies are eco-friendly and help save on energy costs. But, these benefits are no longer exclusive to the home. Businesses can benefit from office automation too. In 2020, more firms will adopt the technology for the office for the same reasons.

Business owners can shrink monthly power consumption with smart lighting and sensors. Smart video doorbell cameras and locks let you give remote access for deliveries or employees. It keeps your business safer too. Smart thermostats reduce energy waste by learning your staff’s temperature preferences and the cheapest times to heat and cool.  

2. Major Growth in IoT in Healthcare

The healthcare industry is perfect for IoT. It’s a growing, highly regulated and tech-dependent market. Today, many “smart” hospitals are using IoT devices for remote patient monitoring through wearables and health sensors. Integrated monitoring systems can now track patients, staff and equipment like an “indoor GPS.” This maximizes resources and saves money. Healthcare providers are also using small ingestible devices (i.e., “smart pills”) that transmit data about medication effectiveness, leading to better decision-making about patient care.

Look for the healthcare industry to adopt more IoT devices to streamline processes, cut costs and raise patient care. Increased investment will also push associated markets (e.g. physical therapy and nursing homes) to adopt similar technology to stay integrated with hospitals.

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