03 JUN

How to unlock the unlimited potential of the Internet of Things?

  • Life Style
  • Jenny
  • Jun 01,2022
  • 28

How to unlock the unlimited potential of the Internet of Things?

During the past two years, the digitization of the home has been greatly promoted. As the epidemic intensifies, everyone is used to connection, such as our daily activities, from work to leisure, are now more and more dependent on the Internet. In addition to increasing the number of network devices per home, we are also seeing disruptive changes in smart home applications in range, functionality and performance.

The market for smart home devices and appliances will reach $474 billion by 2026, according to experts. The CAGR of smart home devices, such as smart door locks, cameras, and smart home appliances, is expected to reach more than 22%. In other words, the smart home market could nearly triple in size.

However, we are at the beginning of a digital transformation process. In the process, devices will communicate with each other more and more independently, and humans will develop guidelines to perform tasks.

Imagine the benefits of a self-regulating system to optimize electricity usage in and around your smart home. For example, electricity consumers such as photovoltaic systems, wall-mounted power boxes, etc. will charge electric vehicles in the most efficient way.

Another example is that with the support of many smart home devices, older adults who are able to live independently for longer periods of time can monitor vital signs and contact a doctor in an emergency.

All applications can be transformed by connecting to the cloud, not just our homes. We will see the development of smart cities, industrial internet and mobile communications. We know today that these opportunities will also provide significant social and economic value in the future narrowband iot.

In fact, by 2030, the value of IoT products and services including consumer and customer acquisition and service value will create $5.5 trillion to $12.6 trillion in value.

However, in order for IoT to work, some issues must be properly addressed, be it a single product or a more complex solution. The key parameters that must be considered at the beginning of the design process are as follows:

Strong connectivity.

Reliable data collection and analysis.

Secure device identification from edge to cloud.

Data privacy, especially consumer IoT and data security.

Finally, device interoperability with the IoT ecosystem.

Use sensors like radar for intelligence when privacy is key. Wi-Fi and microcontrollers meet device bandwidth, computational speed, or low-power performance requirements. Artificial intelligence and machine learning algorithms tell devices when to analyze data at the edge and when to upload it to the cloud, as in big data computing. In addition, intelligence includes devices that use the same communication standard.

However, with billions of devices connected, security concerns have become a concern. Only authorized users can access connected devices. They must provide data confidentiality and upgrades within a reasonable lifetime. To be clear, the Internet of Things will not function without security!

Finally, to protect our environment, energy efficiency. To extend battery life and reduce power consumption in wired devices and systems, it is imperative to be as energy efficient as possible.