Internet of Things (IOT) – Forecasts

2021-01-27T06:26:51+00:00January 27th, 2021|IoT|0 Comments

The Internet of Things (IoT) has the potential to bring the next industrial revolution, transform society and establish a new ecosystem to serve not just humans but humanity, and transform the country into a Smart India. In an IoT-enabled world, people will receive uniquely personalized services on-demand, while societies will benefit from optimized resource use with minimal impact on the environment.

Interactions between humans and machines are on the verge of a radical shift with the potential to unlock immense possibilities facilitated through the concept known as the IoT. With simultaneous advances in technologies such as artificial intelligence (AI) and machine learning, these conversations can enable devices to anticipate, react, respond and enhance the physical world.  The IoT is well-poised to usher in the next technological revolution since the time of the Internet. It has been drawing more and more attention as the world turns increasingly digital. There is no doubt about the value the IoT has unlocked so far and its potential to change lives.

As the world gets increasingly connected, global IoT spending is set to increase significantly over the coming years. Though there are still nagging security concerns with the IoT—that are yet to be addressed—a study by Cradlepoint (an industry leader in cloud-delivered 4G LTE network solutions for businesses, service providers, and government organizations) reveals that close to 70 percent of organizations have adopted, or plan to adopt, IoT solutions within the next year. Gartner forecasts 20.8 billion connected devices by 2020. Bain predicts the combined markets of the IoT will grow to about US$ 520 billion in 2021.

Forecasts suggest that by 2030 around 50 billion of these IoT devices will be in use around the world, creating a massive web of interconnected devices spanning everything from smartphones to kitchen appliances. The global spending on the Internet of Things (IoT) is forecast to reach 1.1 trillion U.S. dollars in 2022. New technologies such as 5G is expected to drive market growth in the coming years.  To step foot in this trending technology, you will have to learn about Information security, AI and machine learning fundamentals, networking, hardware interfacing, data analytics, automation, understanding of embedded systems, and must-have device and design knowledge.

Do you think it is time to incorporate IoT solutions into your business? Internet of Things services provides a channel for swift and error-free data transfer over a wide distance. It consists of a complex network where a single loophole can crash the entire node. Therefore, it is crucial to partner with a proficient IoT technology company that is experienced as well as well-versed in dealing with system failure, check out the Internet of Things companies available in Israel.

Relevant companies interested to know more about these solutions contact us:
contact:
Kavitha Saravanan, Trade Officer, Trade and Economic Mission
Tel: +91-80-49406515. kavithas@israeltrade.gov.il

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