In the midst of the hot development of AI technology, IoT technology remains one of the top three key priority technologies for businesses. The IoT market has shown strong resilience amidst overall economic volatility and tensions in 2023, with IoT showing a high rate of growth after AI, as assessed by IOT Analytics, with the IoT market projected to grow at a CAGR of 17 per cent by 2030, and the number of IoT devices across all verticals projected to grow to more than 8 billion.
The global economic growth forecast for 2024 is subdued, but the overall IoT market shows a positive stance, and the majority of IoT industry players need to pay attention to the trends related to the development of the IoT industry.
1. Semiconductor companies into the field of embedded chipset security
With the increasing security threats to IoT devices, more and more semiconductor companies are investing in embedded chipset security, protecting chipsets with secure components and physically unclonable technology to safeguard data flowing from the edge to the cloud. in February 2024, Intel Foundry joined Intrinsic ID, a leading semiconductor company, in the Accelerator IP Alliance programme. In February 2024, Intel Foundry added Intrinsic ID to the Accelerator IP Alliance programme to ensure that its members can obtain a Root of Trust (RoT) for the QuiddiKey X00 product family without having to use additional security-specific silicon.
2. AI chips embedded in hardware such as rand gateways
With the development of AI technology, enterprises have increased the demand for real-time data analytics at the edge and want to leverage AI to efficiently analyse real-time data at the edge.The reduction in the size of AI chipsets and enhancement of their functionality has further contributed to the emergence of hardware appliances such as AI Edge Computing Gateways.The ability of AI Edge Computing Gateways to perform calculations with very low response latency accelerates data processing on industrial devices, reduces network traffic and make data more secure.
3. industrial IoT cloud service providers accelerate the layout of edge and containerisation
With the development of the IIoT market, many cloud service providers in the industrial IoT industry have adjusted their strategic direction to focus more on edge and containerisation. Giants such as Microsoft, Google and AWS have enhanced their edge computing capabilities, participated in the development of the edge software platform layer, and accelerated the layout of the IoT edge market area.
4. Multi-technology convergence provides better solutions
In 2024, technology mixing becomes a new trend in the development of IoT, and AirFinder UItra combines UWB and Bluetooth technologies to give it a great advantage in indoor asset tracking. Bluetooth is an economical way to provide relatively accurate data, while UWB is a more expensive way to provide centimetre-accurate data.AirFinder UItra combines the best of both worlds to provide users with an affordable and accurate data solution, allowing IoT companies to see the advantages and benefits of technology blending and to hopefully replicate the AirFinder UItra’s success.
5. 6G Technology for Industry Development
According to the previous mobile communication technology development law speculation, the industry generally believe that 6G is expected to usher in commercial use in 2030. 6G network speed can reach 1tbps/s, 100 times faster than 5G, IoT devices will be better linked, 6G technology will provide as low as microseconds level latency, making real-time communication technology possible. In the future, 6G technology will continue to create more integration with AI, IoT, and big data, applying to different industries and scenarios, improving the performance of data collection, computation, and processing, and improving reliability and data security.
In 2024, IoT will continue to drive sustainable development in every industry, and the combination of IoT with each new technology will revolutionise every industry. IoT will be used more and more frequently in industries such as manufacturing and new energy. IoT technology not only improves operational efficiency, but also reduces the rate of waste generation. IoT plays an important role in the sustainable development of the industry, opening up a new era of harmonious development of technology and ecology.
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