The modern healthcare systems offer data security, convenience for patients, and reduce costs. Especially with the benefits and technology of RFID, patient safety and hospital workflow are managed with ease.

Healthcare IoT, also known as the Internet of Medical Things (IoMT), has empowered remote patient consideration, improved clinic and pharmaceutical processes, and increased information precision. In hospitals, hygiene checking devices assist in preventing patient infections. IoT gadgets in hospitals also aid in managing refrigerator temperatures, speeding up emergency care and things of that nature.

What Is IoMT?

Internet of Medical Things (IoMT) is the amalgamation of software applications, medical devices, and health systems and services. It enables the patient to transfer medical data through the internet, which can help reduce hospital visits, hence having a patient-centric approach.

Internet of Medical Things trends streamlines the medical workflow management as the patient care has improved both in a remote location and inside facility walls

Here are some stats which prove how healthcare has become digital health leader through IoMT and the increasing popularity of healthcare software development services:

• According to Frost and Sullivan analysis, the global market of IoMT Market was $22.5 billion, and in 2021, it was expected to grow at 72.02 billion at a CAGR of 26.2%.
• The global Internet of Medical Things (IoMT) Market as per All The Research was valued at USD 44.6 million in 2018 and is expected to reach USD 254.6 million in 2026, growing at a CAGR of 24.4% during the forecast period (2016-2026).
• According to the Business Research Company, the global medical devices market is expected to grow at a CAGR of 6.1% from 2021 and reach $603.5 billion by 2023. 
• As per Statista, the digital health market is expected to reach around 660 billion dollars by 2025.

• As per the Aruba’s research, six in ten healthcare organizations are already making use of IoT through patient monitors (64%) and X-ray/imaging devices (41%) among the main devices connected to the network.

Now that we have read the stats, we know how IoMT is built on several technologies and is offering various benefits to the medical industry. Let’s move on to the Impact that IoMT has for healthcare industries.

The market for Internet of medical things applications include smart devices like medical monitors and wearables, kiosks, smart pills, telehealth etc. Medical Internet of Things technology is implemented by almost 60% of healthcare organizations all around the world. 

According to Deloitte, the medical technology available in IoMT Market is more than 500,000. These technologies are providing better outcomes to the patient as well as to the healthcare system. 

Impact of IoMT in Healthcare

Data-Driven Decisions

IoT with the data and network of interconnected internet of medical things devices, make achievable the production of frameworks that can keep up with the intricacies of present day modern medical practices. Having the option to monitor patients progressively in real-time and reminding patients to take their medications are some of the well-known features that this technology offers.

Data-driven processes in the medical business helps administrators and medical faculty to make an informed decision that winds up providing benefits to the patients and digitizing the healthcare sector.

Smart Medical Devices

Internet of medical things devices help to track the medical components in a manner that was impossible or difficult a couple of years ago. Regardless of whether this implies providing inventories or observing health conditions, these devices can assist in accomplishing medical objectives by providing a good patient experience.

Smart watches and pillboxes are some well-known examples of this. The former can assist with checking biometrics while the latter can remind patients to take their meds.

Expanding the accuracy of diagnosis and therapies is possible on account of smart IoMT in medical devices. Providing healthcare mobility solutions via home-based gadgets is of great assistance for disabled patients.

Efficient Processes

With numerous shortcomings encompassing the medical world, IoMT has the potential and possibility to assist with improving things. Taking the example of True-Access, an application created by Koombea that permits medical staff and patients to travel through approved areas in medical facilities without mentioning or requesting permission.

In practice, it is a smart card that provides access, however it is more than that. Its information additionally assists to keep track of functional matters. With it, security can be improved and better administration decisions can be made on account of the accessible data.

Global Assistance 

Smart medical gadgets gather and transfer significant health information, including however not restricted to blood pressure, pulse rate, oxygen and glucose levels, ECGs, and so forth.

Information stored in the cloud can be shared with doctors from any part of the globe. The doctors can take a look at the information from a device with the application installed to give a particular medical counsel and help patients regardless of their area. Thus, in the end, we get improved medical services and benefits regardless of the place and time.

Lower Costs

This is presumably the main benefit of the Internet of Things in medical care. IoT medical care solutions and associated medical gadgets monitor health in real-time, so that the patients can visit medical experts/ doctors less often. Generally, this diminishes costs because of less hospital stays and readmission.

Improved Patient Experience

Patients who are associated with the medical Internet of Things in the healthcare system wind up having a superior encounter, as they are more occupied with their therapy. Smart devices in medical services give significant information about the patient, so doctors can diagnose health problems with higher precision.

IoT medical care provides unlimited potential outcomes. It makes medical care more accessible and gives doctors valuable knowledge into patients’ health conditions outside the hospital. Patients get the best medical treatment regardless of their location.

Types of Internet of Medical Things Market

1. On-Body Segment

This market can be categorized as consumer wearables and medical or clinical-grade wearables. Consumer health wearables consist of personal fitness devices, including bands, wristbands, activity trackers, smart garments and sports watches. The apps are regulated by the authority and endorsed by experts based on the information obtained by consumer studies or clinical validation. Samsung medical, misfit and Fitbit are the companies in the market.

2. In-Home Segment

IoT is not only limited to healthcare but other industries as well like its impact on food and agriculture, construction, home devices, and so on. 

Telehealth virtual visits, remote patient monitoring and personal emergency system, are included in the home segment. Through this package, the patient can easily and quickly receive medical care in case of an emergency. To slow down chronic disease progression, RPM monitors the physiological parameters of the patients in order to provide long term care.

3.  Community Segment

Mobility service, emergency service, kiosks, Point of care devices, etc. are some of the component of these segmented sensors and IoMT tools in healthcare delivery and shipment, which measures humidity, shock, and temperature are an example of IoMT of logistics management

4.  In-Clinic Segment

The devices used for clinical or administrative function either in the telehealth model or clinic are included in this segment of IoMT. Unlike the community segment, the healthcare professional can use the devices while the patient is located remotely. Example: Rijuvens clinicits is a platform in which physicians can access the patient at any time.

5.  In-Hospital Segment

This segment includes patient flow management, assets management, inventory management, environment and energy monitoring. The best example of this segment is the Myway app that guides the patient to the hospital using the shortest route.

Potential of Internet of Medical Things in Healthcare Sector

The benefit of IoMT is that it provides less mistakes and accurate diagnoses at a lower cost. The IoT with mobile applications allows the patients to transport healthcare data to doctors, which helps monitor the chronic diseases.

For e.g., the Fitbit can track heart rate and accelerometer data of the patient simultaneously and accurately, which allows it to monitor patients suffering from ischemic heart diseases.

The IoMT brings a revolution in the healthcare system by improving the patient experience and eliminating unnecessary visits to hospitals or clinics. With a smart pill containing a microscopic sensor, the drug management and patients have improved. This smart pill transmits data to the healthcare professional through the connected device. 

Now you know the reason behind the increasing demand of healthcare apps and healthcare app developers.

Parting Thoughts

COVID-19 has surely revamped the whole technological disruption in the current times. No doubt, with the pandemic there was a whole new slate of challenges which came up, but at the same time it provided immense opportunities for innovation in the Internet of Things in the healthcare sector.

Just like IoT is helping manufacturers for better operational efficiency, the same way IoMT has streamlined processes and has drastically improved the patient experience. While the providers have gained accurate data, diagnoses, and efficient time management, patients are getting benefit from convenience, higher engagement, and less physical medical visits.

If you are amazed about this field and its functions, then add value to your healthcare software development services and solutions with our healthcare app development company. If you want an intellectual consultation then you can connect with our experts anytime. We, being one of the top healthcare app development agencies in USA, are happy to spread technology and smiles.

The post How Internet of Medical Things Impact the Healthcare Industry? appeared first on Appinventiv.

Smart technologies are progressing at a fast pace, and they have become immensely useful for numerous applications throughout several business industries and verticals. These revolutionary technologies are constantly evolving to bring a change in individuals, societies, and businesses. With that said, technologies like the internet of things can certainly help a business grow at unparalleled rates. 

If you believe that the internet has changed your life, think again. IoT is about to transform it all over again. 

As of now, there are more than 10 billion active IoT devices found across the globe. This certainly highlights that the technology itself is not something new for the people. Here’s a list of some fascinating stats that signify the progress of IoT so far: 

• According to a report by IoT analytics, the majority of internet-connected devices can be found at work or home. As of now, nearly half of all the available IoT devices are connected to personal area networks.
• As per a published material by Gartner, there are nearly three internet-connected devices for each human existing across the globe.
• A study by PWC reveals that a large number of companies expect digital technologies such as IoT to improve the efficiency of their processes by 12%.
  
• The forecast for worldwide spending on IoT by 2023 is said to reach 1.1 trillion U.S. dollars according to Statista.

Additionally, there is still a lot of confusion and complexity among people regarding IoT, which may hinder your decision-making process and make it harder for you to adopt. As with anything else, you need the proper time and skills required to make your project a roaring success. Here’s a quick rundown of some to do’s for your IoT development that helps you to make or implement IoT successfully. 

IoT Must-Haves To Accelerate IoT Deployment

1. Plan for long-term

When it comes to the corporate cult, the short-term doesn’t even exist. As it is a far-reaching, well thought, and comprehensive strategy that has the capability to change your life completely, the former applies to it too. 

Additionally, there’s always a level of uncertainty associated with this dynamic and disruptive technology, that may lead to unpredictable consequences in the future. This calls for the need for long-term planning that allows you to stay prepared for or unexpected events and take actions based on the ever-changing business environment and changing technologies.

2. Figure out the basics

While your business might be successful with the adoption of this smart technology, relying on mere data collection may lead to failure in the next phase of a project. IoT is more than just collecting data with the help of connected devices, and you must consider several other factors to make your IoT project successful. 

It’s worth brainstorming how you are supposed to gain profitable business values from your internet-connected assets. Moreover, while you are collecting data, you need to make sure that it is driven by the real-world needs of a business and is organized properly. 

3. Seek inspiration around you 

After you have determined what you need to do with your IoT project, you need to look for inspiration in your surroundings and research pre-existing solutions that solve the exact same problem as your project. It allows you to figure out an ideal device management solution that acts as a foundational block for your project that offers you a strong, stable, and customizable platform for expanding the limitless possibilities of your project. 

The smart concept you are developing needs to be put in a profit-driven and reasonable framework that offers you a perfect blend of economic viability and the requirements of your customers. 

4. Understand your customers’ needs 

Another important IoT application development component is what you are willing to offer and what your consumers are demanding, apart from the solution you are developing. It’s important to keep a track of all the requirements that you encounter throughout the various stages of your project. 

If the vision of your product doesn’t match the outcomes, you may face a difficult time surpassing your competitors. Furthermore, as customer satisfaction still remains the primary revenue and growth driver for businesses, your project must fulfill all the contract stipulations it promised.

5. Find the right people

While your project is on the verge of completion, you surely won’t like to be left alone in the lurch. During the stage of your IoT project development, you need to gather the right people with adequate expertise that may help you walk through the difficulties and complexities in IoT and help you evade any technological pitfalls and improve operational efficiencies. However, make sure that you maintain a firm distance from technological lock-in that makes you dependent on a vendor. 

There might not seem to be a problem at first, but considering the long-term goals, they may prove to be discouraging in terms of scaling and ranging your project. Therefore make sure you thoroughly analyze and research the offers available in the market by considering aspects such as cross-platform integration possibilities and scalability. 

Now we move on to the steps to be taken for the deployment of successful IoT projects. 

10 Steps for a Successful IoT Deployment

1. Develop a strategy

Different businesses have different needs, and there is no single IoT project for everybody. Before you explore different possibilities of IoT or submit a project application, you should work out a strategy with key business leaders. 

This assists with guaranteeing that users agree with IoT projects and furthermore guarantees that IoT projects offer the most noteworthy benefit for the enterprise.

2. Be clear about business objectives

Rob Mesirow, a partner at PwC and head of IoT advisory practice, said that the business chiefs and their IoT administrators should be clear about the business results that they want from their IoT deployment.

IoT normally produces the greatest value for its money in situations where tracking and estimating are followed by enhancement. IoT application development companies should discover the quantitative data of what the issue is – for example, the number of cameras that secure a building- and afterward use the information to resolve the problem. An IoT development company can also try to track and afterward optimize the utilization of those resources, or they can install IoT sensors in facilities to follow environmental indicators and later on conduct analytics to improve them.

3. Achieve the easier goals first

The new technology requires quick and exceptionally high noticeable achievement. If your corporate IoT methodology is steady as compared to other organizations’ IoT projects that have a decent track record, then you should focus on the easy projects first; as they are moderately simple to carry out and produce results. 

Also, if some IoT projects can show information comparison like “before and after project deployment”, this can establish the framework for new IoT projects.

4. Calculate the cost

The expense of IoT components, from sensors to storage, has dropped significantly in recent years. Therefore, as a result, numerous IoT service providers and IoT app developers underestimate how much their IoT deployment will cost. The companies need to perceive from the start that while they probably won’t pay much for a couple of sensors for a pilot project, they’ll see those expenses grow dramatically as they increase.

Adding many sensors could require organizing updates, extra storage capacity, security layers and other expensive components that could easily be neglected or overlooked at the beginning of the task.

5. Think about your customers

The best IoT project implementation  generally focuses on user requirements. If we take a good example like the municipal tram system, which presently utilizes IoT sensors to predict system equipment and track  failures/ disappointments with the goal that the maintenance work force can effectively take care of these issues. These IoT frameworks can even send messages to the customer’s smart phone when the framework fails, recommending the user to change the course.

6. Secure IoT Private Networking

Protecting and securing your data is a serious business regardless of what industry you’re in. To have secure networking it’s better to create different ways for customers to build and own their IoT private network from end to end.

Regardless of whether you’re utilizing AWS VPC peering, AWS Direct Connect or IoT LANs, we at appinventiv permits our customers to scale their business without compromising on their data.

7. Strengthen safety precautions

If you utilize raw IoT information from the Internet, then there are chances that these information may bring you malware, viruses, and other security dangers. For organizations making use of IoT data, IoT security practices ought to be rethought to guarantee the security of local and wide area networks.

8. Combine IoT data with existing data

The most ideal approach to increase the utilization of the IoT is to infuse data from internal system records. For instance, if you are gathering information on customer behaviour on your website, then you can consolidate this information with existing customer data, for example, where the customer lives and other key information. This helps you to understand every customer and their purchasing behaviour and preferences.

9. Set baselines and indicators

Your IoT project ought to have the option to be compared with the past organization performance benchmarks. Through this way, you can without much of a stretch easily show the effectiveness of your IoT project, which might be expanded income, better customer service, and quick completion time for internal tasks, cost saving, and so forth.

10. Define your next-generation IoT application

At the point when your IoT project has made phased progress, you should begin considering how to manage more IoT applications. Having a discussion about this issue with the business chiefs and decision makers engaged with the methodology can help your IoT project move ahead.

The Takeaway

The data accumulated through a successful IoT deployment system is certainly a gold mine for your business. Make sure you spend a significant amount of time figuring out the several aspects of data involved in your business model and work to make them even better by monitoring the data collected by IoT devices. It can be used for a plethora of activities such as predictive maintenance. 

Moreover, as the internet of things is a very vast and fast-moving environment, the success of your project may differ from your competitor. With the list of must haves for IoT deployment stated above, you can gradually increase the chances of making your IoT project successful. 

Before you call it a day make sure that you research and choose the most reliable solutions available out there and find a trustworthy and reliable IoT app development company to partner with. A company Appinventiv that would help you have a successful IoT platform. 

Contact our team of App Developers today and get a detailed guide on how to begin your app journey!!.

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I am sure it is the waking up scene with coffee ready for you, automatic lights, reminders for your tasks or the finished groceries and so much more.

Am I right?

Well these all are the things that we have heard, seen and read about. And to some point these technologies are helping to make such a thought into reality.

With the current technological advancements, IoT technology currently is in its golden age, transforming various industries by storing and processing data in a distributed manner and making enhanced productivity.

IoT is a complex ecosystem of interconnected devices that can communicate with each other. These smart connected devices are able to gather, share, and analyze information and take actions accordingly. 

Research shows that there will be 35 billion smart devices online by 2021 and in the future of IoT this number will rise to 75 billion by 2025. So, it is safe to say that IoT is growing at an enormous rate and so are the use cases, trends and technologies surrounding it.

The emerging trends in IoT are majorly driven by technologies like artificial intelligence, blockchain, 5G and edge computing. Within this interconnected web of technological advances lies in the business value of IoT applications like smart wearables, smart homes and buildings, smart cities, autonomous cars, smart factories, location trackers, wireless sensors and much more. This level of connectivity helps consumers experience a comfortable secure household that they can control and monitor anytime. IoT also promotes healthcare, cost and energy savings. With the internet of medical things, the healthcare sector has increased its market and patient service. From a business point of view, IoT project succeeds by making operation management more efficient, improves the productivity of the resources, and reduces human labor and above all, it provides vast business opportunities.

Since we are well aware about what IoT is and how it works, let us jump straight to IoT statistics that you should not ignore!

Statistics You Need To Know

• According to Fortune Business Insights, the global internet of things market size stood at USD 250.72 billion in 2019 and is projected to reach USD 1,463.19 billion by 2027, exhibiting a CAGR of 24.9% during the forecast period.

• The Internet of Things future (IoT technology) market in the U.S. was estimated at US $45.7 Billion in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$169.1 Billion by the year 2027 trailing a CAGR of 29.9% over the analysis period 2020 to 2027. 
  
• The enthusiasm for Internet of Things future adoption is not only global, but also across all industries. Among the enterprise IoT decision makers Microsoft surveyed, 85% say they have at least one IoT project in either the learning, proof of concept, purchase, or use phase, with many reporting they have one or more projects currently in use. Adoption rates are similar across surveyed countries such as, US, UK, Germany, France, China, Japan and core industries like – manufacturing, retail/wholesale, transportation, government, and healthcare.
  

• 94% of businesses will use some form of IoT by the end of 2021. Among current IoT business adopters, 88% believe IoT is critical to their business success.

Now that you are aware of the Internet of Things future facts and numbers regarding IoT, let us discuss emerging IoT trends, shall we? Past turn of events such as the unfolding of the 5G technology, latest developments in AI Blockchain, the on-going pandemic crisis will dictate the trend of IoT emerging technologies 2021. But we cannot deny the fact that the future of IoT will be smart, secure and reliable, let’s understand how:

Top IoT Technology Trends 2021

1. IoT security

Till date, security is one of the major concerns when it comes to such an extensive level of connectivity. A security vendor has detected over 100 million attacks on IoT endpoints in the first half of 2019 alone, highlighting the continued threat to unsecured connected devices. As a result, security is an evolving IoT trend and many companies around the globe are developing IoT security solutions using different technologies. 

2. IoT fueled with 5G technology

5G technology is not just a new generation of wireless technology, it is a  foundation to release the full potential of IoT thus revolutionizing technological growth. It is without a doubt that the most important internet of things emerging technologies 2021 since reliable connectivity will result in better performing IoT devices. Real time data processing, lower latency, network slicing, higher transmission speed and extensive coverage are a few things that 5G brings on the table. 

3. Blockchain 

Increased adoption of blockchain technology is one of the latest IoT trends.

Blockchain can ensure data protection in IoT devices. Blockchain allows successful interaction between multiple network nodes and ensures safe record keeping and that is why it is a great fit for IoT applications since they are also distributed by nature. 

4. IoT enabled AI applications

Two very different technologies such as the internet of things and artificial intelligence can together provide commercial solutions. AI algorithms now need very less data in order to deliver good and effective results. IoT development services in industries making use of these two technologies can help automate many processes and reduce downtime, reduce operating costs, increase efficiency and enable predictive maintenance. 

5. Digital twins

The digital twin technology trend came into limelight in 2020. A digital twin is a virtual representation that serves as the real-time digital counterpart of a physical object or process. A digital twin can be used for multiple things such as monitoring, diagnosing, optimizing and controlling asset performance and utilization. From US $3.8 billion in 2019, the projected compound annual growth rate of the digital twins market will be US $35.8 billion by 2025.  

6.  Voice activated IoT devices

Amazon Echo, Siri, and Google Assistant have taken voice-based user interfaces to a different level. Voice interactions will now be used in other applications across various industries that will allow us to change settings, giving commands and receiving results from our smart devices. Banks and FinTech startups have been one of the earliest adopters of voice and speech recognition technology. Another impressive development in voice recognition technology is voice biometry. It allows organizations to create a digital profile of someone’s voice, by analyzing a series of specific characteristics such as tone, pitch, intensity, dynamics, dominant frequencies, etc. Companies are confident that this process will be more secure than the methods that are currently in place. 

7. Smart cities 

While witnessing the emerging technologies in IoT, one cannot ignore smart cities. Since the past five years, many governmental institutions have begun IoT technology projects that will impact entire cities. With enormous amounts of data, the government will be able to implement various intelligent solutions for multiple issues like traffic congestion, citizen safety, energy utilisation, sustainable development, etc.

For example: In order to improve urban planning, transportation and public safety, Singapore collects, analyzes and shares data from connected sensors.

8. Edge computing

By the end of 2021, Edge Computing is expected to increase dramatically due to distant work and COVID-19. This innovation makes new kinds of business to emerge. As per Forrester, end-of-life marketers may hold and keep a sizable offer in the public cloud market driven by the way that significant retailers, for example, HPE, Dell, and IBM are creating solutions for edges with cloud-like features. In a growing workforce, edge computing permits organizations to serve clients in new areas and back flexibility and control.

9. Traffic management

Thinking about going to the office first thing in the morning makes you go bonkers.

In any city globally, traffic and blockage are major torments that lead individuals to invest more energy and time on the road during the day. Long journeys erode economic productivity in metropolitan areas around the world, making traffic jams a significant concern.

Current IoT trends recommend that IoT technology is appropriate to address this challenge. Today, many organizations are providing solutions and arrangements that mean to utilize IoT installed technology in vehicles and traffic systems to design more smart traffic networks, expected to decrease unnecessary traffic and congestion.

Business owners, entrepreneurs and governments are using IoT in order to increase work efficiency, save money, and to create a better user experience. While top IoT technologies are still in their early stage of development in many applications, their overall impact on the top industries is tremendous. Let us look into some applications in IoT devices for specific industries. 

The Emerging Industry Wise IoT Applications 

1. Agriculture

Did you know that the world population will reach gnarly 10 billion in 2025 and global food demand will witness a 70% increase? We do have a simple solution – smart agriculture (IoT agriculture). With the help of IoT sensors, farmers can make more informed decisions. This will help them achieve higher and better quality crop yield. It will also reduce costs by reducing the use of resources such as pesticides, water, and electricity.

2. Transportation

In 2021, the upcoming cars will be smart cars, which means they will be connected to the internet. These cars will ensure better safety not only for its drivers but also for other vehicles on the road. They will also be capable of software updates and lower emissions. Right now we do have e-scooters, bicycles and skateboards but with IoT evolving companies will be able to reduce their operational costs and deliver a better experience to the drivers and passengers of the vehicle. 

3. Healthcare

Due to the recent turn of events, the healthcare sector has experienced a boom of IoT innovation. During the Covid-19 crisis, demand for IoT health applications like telehealth, digital diagnostics, remote monitoring, etc. have skyrocketed, thus enabling real-time tracking and alerting the patient’s health. IoT has improved the patient engagement and satisfaction with doctors by making interactions and procedures easier and more efficient.

4. Consumer electronics

IoT can enhance user experience and customer satisfaction simultaneously by providing convenience in people’s everyday lives. IoT helps in collecting consumer’s data efficiently and allows the producers to analyze and optimize the usage of their devices or applications. 

For example: Due to the on-going pandemic wearable health monitoring devices will become a way of life.

Conclusion

IoT solutions are growing worldwide and the future trends of IoT will play a significant role in the near future. Major technologies such as blockchain, AI, 5G, cloud computing, and so on, are going to play a very crucial role in the advancement of global connectivity and the internet of things. IoT is taking over all aspects of our lives so, if you have an out of the box idea, now is the time to get in touch with an IoT application development company. We are one of the top IoT app development company in USA that creates applications which operate using sensors and deliver outstanding results.

The post Emerging IoT Technologies You Need To Know In 2021 appeared first on Appinventiv.

Dive deep into your imagination and seek a world where smart homes can unlock doors just by scanning your face, automatically adjust lighting and temperature, a world where chronic diseases are managed 24-7 and where accidents are a thing of the past. You can imagine that the fifth generation of wireless technology promises more than just a fast network.

 It will not only help you redefine the network but also establish a new global wireless standard for speed. A 5G network builds a bridge to the future. This technology is not just a new generation of wireless technology, it is a 5G foundation to release the full potential of IoT thus revolutionizing technological growth. We are well aware about IoT and its working.

IoT is described as an ecosystem of interrelated computer devices, digital machines, and objects that have the ability to communicate and transfer data to each other in real-time, with minimum human intervention. 

Major components of IoT include – devices, connectivity, data processing and user interface. Since IoT is already in the blooming stage, with the help of 5G (fifth generation), it has the potential to reach a whole new level. 5G and IoT technology together have a wide spectrum that increases the overall bandwidth and allows a massive amount of IoT devices to connect. 

IoT and 5G have given rise to the mobile ecosystem by introducing a powerful combination of extraordinary speed, expanded bandwidth, low latency, and increased power efficiency that will be connecting billions of networks in the coming five years and is changing our world. Let’s look into some numbers to show you what 5G enabled IoT is capable of. 

• Ericsson’s latest Mobility Report says that the number of 5G smartphone subscriptions worldwide will rise to 600 million by the end of this year, almost tripling from the 2020 total. By 2022, 5G subscriptions will cross the one-billion mark.

• Internet of Things (IoT) will connect more than 50 billion devices by 2030.
• 5G will be 10 times faster than current LTE networks. This increase in speed will allow IoT devices to communicate and share data faster than ever.
• In 2030, the forecasted total number of 5G internet of things (IoT) units sold, business to business, is 44.8 million. Of these, almost half are expected to come from industry 4.0 applications, also known as smart factories. The second largest share of forecasted sales in 5G IoT units, is use cases in smart cities, with 8.4 million units.

• Connected cars is projected to become the largest segment of the global 5G Internet of Things (IoT) endpoint market, with an installed base market share of 39 percent by 2023, the equivalent to 19 million endpoints. The overall 5G IoT endpoint installed base is forecast to grow from 3.5 million in 2020 to around 49 million in 2023 worldwide.

• Due to the increase in 5G users, the industry anticipated to benefit the most economically is information and communications with an estimated $251 billion contribution to the U.S. GDP between 2021 and 2025. Real estate and business services industries are expected to contribute $190 billion and $187 billion, respectively, in the next five years.

Now that we are aware about what IoT in 5G technologies can pull off. Let us look into the advantages IoT and 5G bring to the table in detail.

What Are The Advantages Of 5G And IoT Tech?

1. Greater speed in transmissions

Speed in transmissions can reach 15 to 20 Gbps. With the help of the new found speed we can access data, files, programs etc on remote applications. By intensifying the usage of the cloud and making all devices (mobile phones, computers, etc.) depend less on the internal memory of the device, it won’t be necessary to install numerous processors on a device because computing can be done on the Cloud.

2.  Increased number of devices connected

5G impact on IoT is clearly the increased number of devices that can be connected to the network. All connected devices are able to communicate with each other in real-time and exchange information.

You can imagine that when we talk about a smart home, hundreds of devices will be connected. If you think of an industrial plant, we are talking about thousands of connected devices. Such a great number of connected devices will allow concepts like building a smart city possible. 

3.  Lower latency

In simple words, latency is the time that passes between the order given to your smart device till the action occurs. Thanks to 5G this time will be ten times less than what it was in 4G.

For example: Due to lower latency the use of sensors can be increased in industrial plants. Be it control of machinery, control over logistics or remote transport all is now possible. Thanks to lower latency, which has led healthcare professionals to intervene in surgical operations from remote areas with the help of precision instrumentation that can be managed remotely.

4.  Network slicing

5G implements virtual networks and creates subnets such that the network connection is adjusted as per the specific requirements. By creating subnetworks, some specific characteristics are given to a part of the network. The programmable network will prioritize connections, in case of emergencies by allocating different latencies in the connection.

You are now familiar with the advancements and advantages that applications of IoT in 5G can offer. So, let’s discuss how this wave of new technology is coming up with an endless number of use cases.

5G IoT Technology Use Cases

1. Smart traffic mobility

A world where accidents are minimal, would be a great world to live in. 5G IoT applications can enable the sharing of real-time information about traffic and road conditions among cars and other road users. Such smart mobility and driver assistance services require 5G communication devices in vehicles, with pedestrians, etc and roadside sensors infrastructure. 

By collecting and analysing real-time traffic data from the roadside infrastructure and the vehicles on the road, such Intelligent Transportation Systems would be able to timely warn drivers about hazardous road conditions, traffic blocks and safety  compromising situations. As a result road safety and traffic efficiency will increase.

2.  Smart grid automation

Demand for electricity is increasing as we speak. Virtual power plants and smart grids are the technological solutions for the same. 5G allows us to inculcate real-time management and automate the smart electricity grid. The maintenance can be optimized once we start detecting faults and providing solutions rapidly. 

5G is being largely adopted because of the increased deployment rate and lower cost in comparison to wired alternatives. As a result, utility operators are progressively updating their grids with new sensors, control systems and integrating renewable energy resources. 

3.  Video surveillance

Another 5G based IoT application that is assumed to thrive is video surveillance. Due to the recent turn of events around the globe, the government is ready to invest in public surveillance and security systems. As of now, video surveillance systems rely on wired connectivity, but the adoption of wireless networks can result in fast set-ups and lower costs, boosting connectivity and performance as compared to the wired ones. 

5G and IoT security solutions allow us to prevent the loss of critical assets.

• According to marketsandmarkets, 5G IoT video surveillance cameras is expected to grow from USD 2.6 billion in 2021 to USD 40.2 billion by 2026, at a CAGR of 73.0% during the forecast period.
• With the help of 5G we can securely and consistently monitor facility conditions from any location 
• Quick action can be taken on important security alerts that are notified on mobile devices

4.  Smart city

The European Commission defines a smart city as “a place where traditional networks and services are made more efficient with the use of digital and telecommunication technologies for the benefit of its inhabitants and business”. 

Smart cities use the5G and IoT devices to collect real-time data to understand demand patterns and respond with faster and lower-cost solutions. You can also call it a digital city whose ecosystem is designed to run by connecting several dedicated networks of mobile devices, sensors, connected cars, home appliances, communication gateways and data centers.

We already know that more than 50 billion devices will be connected to IoT by 2030. 5G is expected to unlock the potential of IoT and be a driving force for the smart city by addressing and overcoming all connectivity issues.

Final Say

Each year technology is innovating itself with new discoveries and ideas. IoT – the concept which did not even exist a decade ago has today not just gotten mainstream but has also marked a presence, across industries, across the globe.  Looking at the above emerging technology of 5G and IoT and it’s numerous use cases now is the time to dive deep into mobile IoT app solutions and contact an IoT application development company.

For that you need to find a trustworthy and reliable IoT app development company in USA or other countries where you belong to partner with. A company that would help you expand your decentralized journey. Here comes Appinventiv to help you out by providing top-notch solutions for your business needs. For any queries you can contact us through the link provided.

The post 5G and IoT: Emerging Technologies With Endless Use Cases appeared first on Appinventiv.

Considering the pace we are all moving at, companies are continually striving to make everything connected virtually. Devices connected to IoT can ‘communicate’ with each other be it tech gadgets, smart phones, smart home equipment and machines, etc. But, without adequate security, these connected devices provide a direct gateway into our personal, corporate, and governmental networks where confidential data can be either stolen or destroyed. 

Now that IoT has become a complete game-changer, cybersecurity is more relevant than ever and challenging at the same time. The question still remains, are we ready for such an increased level of connectivity? What are the IoT security risks? 

Before we dive into the glaring security issues, let’s look at some IoT market statistics, shall we?

Essential Internet Of Things Statistics To Keep You Up to Speed

Overview of the IoT market

1.  The global market for the Internet of things (IoT) reached $100 billion in revenue for the first time in 2017, and forecasts suggest that this figure will grow to around $1.6 trillion by 2025.

2.  The total number of connected devices to IoT is projected to reach to 30.9 billion worldwide by 2025. Do note that this number includes active nodes/devices or gateways that concentrate the end-sensors, rather than consumer devices such as computers and cell phones.

3.  Due to the Covid-19 pandemic, the IoT adoption rate has increased, especially in the IoT in healthcare setup.

According to Microsoft’s 2020 IoT signals report, one-in-three decision-makers plan to up their IoT investments while 41% say their existing investments will remain the same.

Statistics about IoT security threats

1.  SonicWall, which blocks an average of 26 million malware attacks globally each day, recorded 40% rise in malware attacks during the third quarter of 2020 as compared to 151.9 million ransomware attacks globally through the first three quarters of 2019, marking 15% and 5% year-over-year declines, respectively. The report clearly indicates how IoT cyber security is compromised. 

2.  According to the 2020 Unit 42 IoT threat report, 98% of all IoT device traffic is unencrypted, exposing personal and confidential data on the network. This is one huge example of IoT cyber risk. 

3.  The same report also points out that 57% of IoT devices are vulnerable to medium- or high-severity attacks. Also, 41% of attacks exploit device vulnerabilities that again shows IoT security challenges. 

Now that you are up to date with all the data that revolves around security aspects in IoT, let’s discuss the challenges of securing IoT devices. 

Internet Of Things Security Vulnerabilities And Challenges

1. Insufficient testing and updating

The major issue that comes with companies while developing IoT devices is that no one takes care of the security issue unless some major problem hits. Once IoT manufacturers launch a device they ensure that it is secure but over time it becomes prone to hackers and other security issues due to the lack of constant testing and updating. Hence, opening the door to IoT security challenges.

2.  Lack of compliance on the part of IoT manufacturers

Let me explain this with examples you see in your day to day life. If you use fitness trackers, you must have noticed that bluetooth remains visible after the first pairing. A smart refrigerator can expose gmail credentials and a smart fingerprint padlock can be accessed with a Bluetooth key that has the same MAC address as the padlock device.

This can be labeled as one of the biggest IoT cyber security threats! Below are some security issues in IoT devices from manufacturers:

• Weak and easily guessable passwords
• Usage of old operating systems and software
• Insecure and unprotected data storage and transfer
• Technical issues in the hardware

3.  Botnet attacks

Cyber security for IoT devices is very crucial since they are highly vulnerable to Malware attacks. They do not have the regular software security updates that a computer does. To perform a botnet attack, a hacker first creates an army of bots by infecting them with malware. Further, directs them to send thousands of requests per second to bring down the target.

Cyber security and IoT should go hand in hand in order to avoid a situation of attack. A botnet attack can easily cause a security threat for transportation systems, manufacturing plants, water treatment facilities and electrical grids, which can threaten big groups of people. 

For example: A hacker can create spikes on the power grid by triggering a cooling and heating system at the same time. If this attack is planned on a big-scale it can create a nation-wide power outage.

4.  Data security and privacy issues

Did you know that hackers did not spare a visionary like Elon Musk and a company like Apple which is known for its proud security claims. ? If such data comes in the wrong hands, it will not only lead to loss of money but also compromise intellectual property.

It was predicted that the Internet of Things will become a target-rich environment for hackers by 2020, attracting more than 25% of all cyberattacks. According to Microsoft, security aspects in IoT are lagging because 60% of employees use their personal devices for work purposes, and more than 80% admit to using unsanctioned web apps for work. 

5.  Financial crimes

Electronic payment companies that deploy Internet of Things may experience a wave of financial crimes. It will be a challenge to ensure the timely detection of fraud.

Also, due to compliance and operational issues, it will be difficult for all financial companies to launch new models of workflow. That is, unless they improve their project lifecycle and risk management strategies that include a rising threat of IoT security breaches. 

6.  Home invasions

You must be familiar with the concept of ‘smart homes’, which is a by-product of IoT. Cyber security for IoT becomes a huge issue when it comes to home automation. Due to unsafe devices and poor defense mechanisms, your IP addresses are trackable and it makes it easy for hackers to locate the address of the device.

7.  Remote smart vehicle access

An IoT security challenge that is close to home invasion is the hijacking of your smart vehicles. This can lead to theft of personal data, vehicle theft, manipulation of safety-critical systems, etc. 

Also, remote vehicle access can be a subject to ransomware, as a hacker may demand a hefty fee to unlock the car or to enable the engine. These malicious intrusions are obviously a huge threat to public safety as they can cause accidents.

Now that you have walked through the vulnerabilities and challenges that come with IoT, it’s time to talk about cyber security strategies that can help you overcome them.

How Can You Make IoT Connections Secure? 

1. Secure the network

It is extremely important to secure the network that is a connecting bridge between the IoT devices and the back-end systems. This can be achieved by implementing security features like antivirus, anti-malware, firewalls and intrusion detection and prevention systems. 

That being said, in order to sustain a smooth operation, there is a need for the IoT network to be protected and secured. You can effectively protect the network and secure it against attacks with the help of the above mentioned systems.

2.  Authenticate the IoT devices

One of the cyber security solutions can be device authentication features for the IoT devices. Features like- multi-factor authentication and biometric systems ensure that nobody can access your devices. A potential attacker will need personal information to gain access to information and this is where you have leverage.

It is of great significance to secure your devices and reduce the probability of your data getting into the wrong hands. When you implement the suggested security options, your IoT devices become well secured against external breach of security. Thus, you will be able to enjoy the numerous benefits of having IoT devices at home, in the office, in your automobile, and anywhere you want. 

3.  Public key infrastructure strategy

A public key infrastructure (PKI) allows the users to engage in secure forms of communication, data exchange, and money exchange. This type of engagement is carried out using public and private cryptographic key pairs.

PKI ensures the encryption of data through two — asymmetric and symmetric encryption — processes. In asymmetric, we need two keys, one key is the public key and the other key is the private key. If something is encrypted with the public key, then decryption can only be done with the private key and vice-versa. 

On the other hand for symmetric both the data encryption and decryption is done with the same key. The data encryption and decryption ensure that data privacy is maintained and the chances of data theft are reduced to the bare minimum.

4.  Use IoT security analytics

You can drastically change the number of security issues you face by implementing security analytics. This involves collecting, correlating, and analyzing the data from multiple sources and can help IoT security providers by assisting in identification of potential threats.

Final Say

There is a lot of scope in IoT today and it is safe to say that the market will increase as per the projections, so now is the time to dive deep into the subject and understand it’s what’s and how’s. Also, with the discussion on IoT security challenges and solutions, we can conclude that securing applications is of paramount importance. 

The security challenges must be managed, monitored and avoided by taking certain measures. You can go ahead and hire an IoT app development company that can help you overcome all your security risks, you can also choose the company based on the location, for example if you reside in the USA, then finding an iot app development company USA is better choice, as you will be able to know whether the company is genuine and knows its clients and customers choice.

The post How to Ensure Cybersecurity in the Age of IoT appeared first on Appinventiv.

With every passing year, advanced methods and equipment enter the manufacturing space to take production capabilities to the next level. This year-on-year maturing of technological advancement is what has brought us from the first industrial revolution to the 4th industrial revolution. 

The current revolution that industries are operating in, comes with its own unique set of methodologies and technologies. It is redefining operational efficiency. 

While the previous revolutions worked around the specific areas of the industrial sector, the fourth industrial revolution comes powered by the ability of connectivity. In this article, we are going to look into the many aspects of how is IoT transforming manufacturing and the many challenges the sector will have to overcome to become a part of the future of IoT in manufacturing.

Welcoming the Fourth Industrial Revolution 

In order to understand the true IoT applications in manufacturing industry, it is necessary to look back at the industrial revolutions. Ever since the 1700s, there have been 4 revolutionary shifts in the manufacturing sector.

The first – water power was introduced for increasing efficiency of steam engine based machinery like cotton gins, loom, and conveyor, etc.

The second – emerging in the 1870s, the second industrial revolution brought us electricity. The invention of the power stations and bulbs powered factories’ automation and gave birth to the concept of mass production. 

The third – emerging somewhere around the 1960s, the third revolution introduced digital technology and computers, replacing analog technologies. The phase opened the world to globalization and increased trade. 

The fourth – this is the era of cognitive manufacturing. In the ongoing phase, big data, IoT sensors, robotics, and predictive analytics will merge to form a brand new definition of IoT in industrial manufacturing operations.

The fourth industrial revolution presents a glorious age for manufacturing and industrial space. Businesses are beginning to understand the massive impact of IoT in the production process, they have started initiating talks with every sound IoT development company to figure out the way to harness the IoT use cases in manufacturing. As a result of their interest, the technology is reciprocating with a number of use cases of IoT solutions in manufacturing.

How is IoT in Manufacturing Changing the Sector’s Landscape?

With IoT implementations in manufacturing becoming a new norm, there are a number of benefits manufacturers are looking to derive from the combination. Let us list down some of the most promising benefits of IoT for manufacturers. 

1. Inventory management

Through the linking of equipment like smart totes, smart shelves, forklifts, etc with wireless communication and RFID, sensors, manufacturers would be able to maintain a real-time view of an inventory. On the production level, sensors linked to bins and machines will be able to provide real-time data on inventory consumption and notify the need for re-ordering or automatic refill. 

2. Predictive maintenance of assets

Another impact of IoT in manufacturing industry can be seen through the role of technology in asset maintenance. With the help of sensors and RFID, IoT can monitor tools, smart machines, and vehicles, etc for equipment health and then schedule their maintenance on the basis of usage. 

There are a number of IoT-based alerts driven systems that provide insight into mechanical problems that could warrant replacement or repair. It doesn’t just improve asset utilization but also helps avoid expensive downtime maintenance expenses. 

3. Field Service 

IoT enables manufacturers to better their capabilities as a service provider. Through sensors and connected devices, businesses can perform proactive servicing of appliances, equipment, and devices while planning field service in a more cost-effective manner. IoT solutions in manufacturing also offer visibility in the supply chain for monitoring locations, the state of products in transit, and the delivery schedules. 

4. Workforce management

Information from assets, machines, and mobile devices can help businesses measure the employees’ productivity. Managers will no longer have to walk the factory floor and see how their workers are performing, they will be able to get a dashboard view of productivity measures created automatically and updated in real-time. 

An example of the workforce management specific manufacturing IoT use cases can be seen in the COREIoT Workforce Management solution. It’s a turnkey project which comes with a 4G IoT gateway, wireless sensors, and a web portal that includes data analytics. The platform offers an advanced tracking facility with dwell time detection offering complete workforce visibility. 

5. Quality assurance 

An active role of IoT in manufacturing can be seen in the ways quality initiatives get added to the operational processes. The technology can help highlight variation in product flow and in the pre-decided guidelines set for measuring product specifications. 

The result lies in improved efficiency on an overall level since products are developed according to specifications, defective production is stopped in real-time, and repairs are conducted to prevent system and equipment downtime. 

6. Cognitive operations and processes

The idea of cognitive operations lies in the ability to take present data and analyze it for driving decisions around better operations, safety, and quality. A system linking technology like IoT can help analyze both structured and unstructured data like video or photos, bringing greater certainty to business operations and decision-making. Here are the different ways that help –

• Better productivity of production line 
• Speedy repair and service call which lowers warranty costs 
• Improved quality. 

7. Optimization and smarter resources 

The last point in our list of benefits of IoT in manufacturing revolves around optimizing resources – energy, people, knowledge, and equipment. It is essential to follow the best optimization practices for keeping the cost low and bettering the overall productivity and engagement levels. With the combination of cognitive insights and IoT, it becomes possible to use data like usage, geolocation, environmental conditions, etc. for:

• Better worker safety and effective workforce management
• Improved worker productivity and expertise 
• Reduction of energy consumption by equipment and buildings.

Even amidst the growing use of IoT in manufacturing, there are some challenges that manufacturers face when it comes to the adoption of IoT solutions in their processes. 

Let us look into some of those challenges that every IoT application development company has to overcome. 

The Barriers to IoT Adoption in Manufacturing Sector

Interoperability of data

One of the biggest barriers that IoT app developers face is in terms of data interoperability. In the traditional manufacturing setup, the environment data are siloed according to functional or department areas. This makes it difficult for production, scheduling, engineering, and quality to be linked or be compatible for analysis. Noting the situation which nullifies the essence of IoT, it becomes very important for IoT application development services to take care of the migration of legacy systems.

Lack of IoT Skillsets

IoT is still at a developing stage, meaning employing someone with the expertise in leveraging IIoT and performing its successful deployment remains a challenge. What makes the matters worse is that when we look into IoT adoption in the manufacturing space, it is not just the technology’s skillset which is required but also experience in analytics, big data, embedded software development, and electronics, and IT security, etc. 

Instances of data breach 

With IoT devices and software becoming common across a range of different industries and manufacturing there are growing concerns around their security proofing. Noting how IoT in manufacturing case studies works around business-crucial data and equipment, it is essential that every IoT app development company follows a security-first approach and abides by all the app security best practices to ensure a breach-proof service. 

Initiate Your IoT in Manufacturing Journey With Us

Entering the sector which still has one leg dug deep in the traditional methodologies can be a challenge. As a tech-forward entrepreneur, you would need help from IoT developers who have worked with manufacturing industry stakeholders. We are here to help you. 

We can help you identify the use cases that apply to your reformative idea, the process you will have to follow to counter migration issues, and how to find the best product-market fit. If you are a manufacturer struggling with similar issues or something new, reach out to us.

The post How is IoT Helping Manufacturers Better Their Operational Efficiencies appeared first on Appinventiv.

Another important piece of disruptive technology that is equally changing lives is the Internet of Things. Like AI, the IoT has come of age. Its utilities include not just making smart homes but also wearable devices, smart vehicles and smart cities. The role of Artificial Intelligence and IoT in business is currently at its epitome. 

AI and  IoT are redefining the way businesses used to perform. On one hand, AI with its powerful subset of machine learning, has paved the way for smarter task execution with real-time analysis and greater interaction between humans and machines; IoT, on the other, has upped the scale of communication between devices and humans via effective intelligent technology. The confluence of the Internet of Things and Artificial Intelligence makes each other’s applications more varied and powerful. 

Moving further, we will discuss the advantages and application of IoT and AI in business.

The merger: How AI and IoT are transforming businesses?

The advent of AI and IoT has drastically changed the entire business landscape. The amalgamation of IoT and AI can help management make informed decisions with zero error. While IoT accumulates large amounts of data through device connectivity via the internet, AI helps in assimilating and evaluating this data.

Machine learning (a subset of AI) in IoT devices helps to identify patterns and detect any faults in data collection through extremely advanced sensors. Intrinsic things such as stimulation to air, temperature, humidity, pollution, sound, vibrations, lights, etc., are derived with this technology over a period of time. Unlike traditional technology, IoT and machine learning make operational forecasts 20x faster with heightened accuracy. This is the reason why businesses that use AI technology see a growth in their revenue numbers – a validation of which can be seen in the graph below:

[Revenues generated by businesses using AI from 2018 to 2025 (estimated)]

The role of artificial intelligence in IoT’s revolution has helped in a massive revenue boost which also means in the sale of more connected devices.

Below is a graph that shows how many IoT-powered devices were there in 2015 and the estimated curve predicts a huge rise till 2025.

The demand for IoT is certainly going uphill. IoT, along with AI, are currently on demand by every business, whether it’s a Fortune 500 or a startup. Since there is no limit to either’s abilities, companies wish to use them to their full potential and unbridle their potentiality to the world. The following image draws a comparison among different technologies and shows which ones are the most trending.

As IoT keeps collecting data, AI takes the onus of converting it into meaningful and creative actions. Data exchange happens through sensors and in the process, a few of the following things happen:

• Data insights are more accurately obtained, monitored and evaluated
• The entire process becomes faster and more efficient
• Surveillance against cyber-attacks is more defined and stronger

Advantages of AI and IoT in business

Together AI and IoT are unstoppable forces of technology. Iot and AI can be integrated together to enjoy the several benefits the two provide. The following elaborates the same:

Data collection, sharing and formulating user perceptions

Data collection is extremely vital for a business’ growth and development. A business with an IoT strategy knows how technology can transform data compulsion by offering greater access to consumer information. AI in business makes it easier to handle that information. IoT devices have this unique mechanism to track, record and observe patterns in a user and his/her interaction with the device(s). Businesses use the acquired data to devise better means to enhance consumer experiences.

Stats showing organizations who gain above-average profits through IoT implementation

Elimination of downtime

Oil and gas manufacturing organizations use heavy machinery which can suffer unseen/unplanned breakdowns. This causes downtime that can incur huge losses. Having an AI-enabled IoT platform makes it possible for predictive maintenance. It helps in anticipating machinery failures and breakdowns in advance by utilizing the analytics so that you can plan a course of action beforehand and not let your operations get affected.  A study by Deloitte led to the following conclusions-

• 20-50% reduction in time taken for maintenance planning 
• 5-10% cutback in maintenance costs
• 10-20% increment in equipment availability and uptime

Strengthening security measures

With the current rise in data breaches and theft of confidential information, security and safety are the most concerning factors for a business. IoT platform powered by AI provides militant support to your private information and doesn’t allow third parties to intrude. Machine-to-machine communication is being facilitated by various organizations to detect incoming threats and give out automated responses to hackers. A common example could be in the banking sector where illicit activities in ATMs are picked up by IoT sensors and conveyed immediately to law enforcement bodies.

Automated operational efficiency

IoT deployment streamlines your business and helps in making accurate predictions, all of which are extremely crucial for improving the efficiency of the business. Placing your money on the Internet of Things investment is very necessary in today’s time as the technology also helps in giving you insights into redundant activities and the ones which are consuming a lot of time. A good example will be Google’s reduction in expenditure in  cooling their data centres which they could do with AI and IoT. Like Google, you too can find out which of your operational activities need some fine-tuning so that efficiency is not neglected. 

Helps in processing business analysis

There needs to be a fine balance between demand and supply. AI helps in improving inventory management and letting go of the pressure on the stock as it will help you to know in advance when you need to restock. This provides an important aid to retailers as they at times hoard too many products to find out later on that all of them cannot be sold. This proves how accurate it is than manual methods. There are IoT applications which help them in gathering the data and analytics for the maintenance of stock.

Better at Risk Management

Earlier we mentioned how AI and IoT platform help in maintaining cybersecurity. When it comes to risk management, which includes handling financial loss, personnel safety and cyber threats, the pair effortlessly deal with situations and give out prompt responses so that such situations do not arise. For example, Fujitsu, a Japanese IT equipment and service provider makes certain worker safety is maintained through data collected from wearable devices with the help of AI.

Scope for new and improved products and services

The Natural Language Processing (NLP) technology which aims to improve communication via speech, text or gestures has augmented the transmission of information between humans and devices. AI-powered drones and robots give a whole new meaning to monitoring and inspection which never existed previously. It helps to fetch data that a human may never be able to do physically. This proves how strong the IoT and AI future is. For commercial vehicles, it helps in fleet management by monitoring every measurable information. Rolls Royce is a great example of AI-powered IoT use cases. Plans to use AI technology to implement IoT-enabled aeroplane engine maintenance needs. This will help in creating perceptual patterns and help explore in-depth insights.

Examples where AI and IoT are showing brilliance

Now that you’re aware of how AI and IoT projects help in leveraging business opportunities, let us mention a few AI and IoT use cases to understand the role of artificial intelligence and IoT in business in creating new business models and providing better user experiences. Many of these examples also make up for the most cutting-edge and futuristic trends to watch out for.

Wearables

By now you must have heard how wearables play a key role in the current IoT scenario. Fitness trackers, smartwatches, wearable panic buttons, remote monitoring systems, GPS trackers and music systems are some of the most popular examples of wearables which take up a large part in the IoT ecosystem. You need to simply download IoT applications in your smart devices to get the most precise information. 

Robotics

The manufacturing industry was in dire need of adopting AI-focused IoT solutions. This helps in facial recognition, deep learning, big data analytics and especially robotics. Robots and robotics have always been the frontrunners of technology for decades and now, with the passage of time, they have become smarter, more reliable and more efficient. Through implanted sensors meticulous communication is facilitated. Using the fusion of AI and IoT, robots can learn and adapt to newer environments with precision. This makes the manufacturing process linear and saves time and money.

Smart Homes

The smart home ecosystem is growing and is currently valued at $91 million. It’s one of the most pleasing activities of technology where you do not have to get and go to a particular appliance and operate it. The AI-powered IoT technology enables the controlling of your light, fans, television, thermostat, ACs, etc. through your phone. Not just inside but even if you’re travelling outside, say to an outstation and you need to check whether an appliance has been wrongly set on, you can do it with a simple command. Or if you’re returning home after a tiresome day at work and need a bath, you can set the temperature of the water say 10 minutes before you reach home. 

Self-driven vehicles

The thought of autonomous cars and vehicles seems exciting and thrilling at the same time. With powerful sensors, installed cameras and robust hardware and software integration, a car gathers monumental information roads, traffic, additional routes, navigation, weather conditions, consumer behaviour and whatnot. Self-driven cars are the perfect examples that will highlight the role of artificial intelligence in future technology. One major concerning factor is safety. Many will face apprehensions over their initial journeys in driverless cars, but that’s what the whole game is about. It has mindblowing learning abilities and high-powered AI mechanisms that will give priority to the passenger’s life at all costs. 

Amazon Go

This is truly a masterstroke in AI technology use. To support its retail outlets, Amazon uses IoT to make the shopping experience more convenient for the user. With no cashier or even cash counters, the sensors present will optimise the entire process. For example, sensors are used to determine your activities. Like a supermarket or retail outlet, items are arranged and when you pick up any product, it automatically adds it to your cart and the moment you keep it back, it’s removed from your cart. It connects to your payment mode(s) so when you leave the store with the items, the total amount is debited from your account or online wallet. Just like self-driven cars, they used computer vision, deep learning algorithms and sensor fusion, procreating the ‘Just Walk Out’ technology.

Healthcare

This is currently the need of the hour. With the Coronavirus pandemic, everyone has become extra cautious with their health and technologies like AI and IoT are leveraging the entire healthcare system. The IoT applications and deployments powered by AI help in collecting data to provide preventive measures for a person/patient, early detection and providing drug administration. It draws data from internet-powered medical devices, medical records, fitness trackers, healthcare mobile apps, etc. Many healthcare companies around the globe are making IoT investments so that people stay safe under such hazardous conditions.

Smart Cities

This is the biggest example to show the prowess of the AI and IoT pair. If it is able to maintain civic decorum, then it speaks volumes about technology’s success. Things like smart traffic management, smart parking, smart waste management, smart policing, smart governance and many other factors are the components which constitute a smart city. The Internet of Things for smart cities  changes the way cities operate and delivers amenities to the public which includes transportation, healthcare, lighting, etc. Smart cities are arguably a futuristic concept and have a lot of ground to cover. The above video explains how three cities have successfully implemented it.

There are many IoT application development company who have done a tremendous job of integrating the technology into various business types and creating something unconventional out of the banal scheme of things. AI is truly reinventing IoT along with other modern-day techs, and businesses that are vigorously using this technological emergence only have good things to say. No second thoughts need to be spared to explain — The future of IoT is AI and will remain so.

FAQs

Q) How is AI related to IoT?

IoT or the Internet of Things is about connecting various devices/machines and accumulating the data collected from all of them. AI or Artificial Intelligence is the technology to instil intelligent behaviour which is at par with or beyond the capabilities of the human brain. Together they form connected intelligence which is a brute force of technology and that’s why you have so many Internet of Things companies coming up.

Q) Does IoT use AI?

It certainly does! The gargantuan data collected via connected or IoT devices is then taken over by the AI systems to determine result-oriented outcomes. With each passing day, both the technologies are getting more flexible and with smoother AI applications for IoT, from vehicles to entire cities can be controlled with the amalgamation of this concept.

Q) How does AI help IoT?

IoT’s job is to allow devices to connect and create an interface for a free flow of information. AI senses this data and uses it to create optimized results. AI’s subset Machine Learning helps in understanding the process and gives output based on guided learning. The IoT Machine Learning combination powered by AI is something that changes every existing business type from its traditional roots. Smart cities, autonomous vehicles, smart homes, smart retail, etc. are a few prominent examples.

Q) Which is the best — AI or IoT?

They are two different technologies which when combined become even more powerful. With Cloud, IoT has become bigger than ever. Since they are so much in demand, AI-focused IoT start-ups are on the rise. 

Q) Why is artificial intelligence important to business?

For both internal and external purposes, AI is an apex need for all kinds of organizations. It gives a competitive advantage, improves efficiency, reduces redundancy, gives automated responses and helps in maintaining order within various functional areas of the organization. The great thing about AI is that despite being around for so many years, it always seems futuristic.

Conclusion

So, as discussed in this article, the future of IoT and AI is bright ahead. These modern technologies have wider scope in almost every business vertical. The amalgamation of AI and IoT will help organizations in better decision making with zero errors. But, if you still have any doubt or wish to design an AI and IoT-based solution for your business, now is the time to get in touch with an IoT development company or AI development company. We are one of the top AI and IoT app development company in USA that offers top IoT application development services along with AI development services.

The post AI and IoT: Two Powerful Entities That Will Change the Way You Do Business appeared first on Appinventiv.

Wondering how is that possible? 

Well, it’s nothing but a real-life example of IoT. 

Confused about what is Internet of Things (IoT) technology? How IoT works?

Let’s talk about it in detail in this article – starting with some exciting statistics.

What is Internet of Things?

IoT, also referred to as the Internet of Everything (IoE), is an ecosystem of interrelated computer devices, digital machines and objects that has the ability to transfer data to each other in real-time, with minimum human intervention.

These devices include coffee makers, washing machines, music system, TVs, wearables and other electronic devices that can communicate with each other using what is called Machine-to-Machine (M2M) communication. 

While this was all about what does IoT mean  and what are IoT devices, let’s talk about a few stats that show the uprising market of IoT:

• By 2022, 100% of the population is predicted to have LPWAN coverage.
• By 2025, there will be more than 75.4B Internet of Things devices worldwide.
• 54% of enterprises invested in IoT app development because of its cost saving factor.
• The global internet of things data market size stood at USD 250.72 billion in 2019 and is projected to reach USD 1,463.19 billion by 2027, at a CAGR of 24.9%.
• 94% of businesses will use some form of IoT by the end of 2021. Among current IoT business adopters, 88% believe IoT is critical to their business success.

Now that we have seen what  IoT devices are and the potential of emerging IoT technologies and concepts in the future, let’s turn towards how does the internet of things work and IoT working principle.

How IoT Works

When talking about how does IoT works, the process begins with devices that have built-in sensors. These devices are connected to IoT platforms which store data from all the connected devices. The important data is then used to perform tasks that fulfil the needs of people.

When we say the data is stored in the IoT platforms, it doesn’t mean that all the data is useful. Devices carefully select only particular data that is relevant to execute an action. These pieces of information can detect patterns, recommendations and problems before they occur.

This is how an IoT application works with smart systems that automate tasks to address specific needs.

Moving further, let’s dive deeper into the Internet of Things concept and see what are the prime components of Internet of Things technology.

Major Components of IoT Ecosystem

1. Sensors/ Devices

The foremost component to consider in Internet of Things technology is sensor/devices. A sensor picks up all the minute details from an environment. The environment can have many complexities. What makes IoT security so great is these sensors that pick up even the most sensitive changes. These sensors are built in the devices which collect all the data to be used later. For instance, our phone is a device with built-in sensors like GPS, camera, etc.

2. Connectivity

Once the data is collected it is transferred to the cloud infrastructure (also known as IoT platforms). But to transfer the data, the devices will need a medium. That’s when connections like Bluetooth, Wi-Fi, WAN, cellular networks, etc come into play. These mediums are all different and must be chosen wisely for best results.

The effectiveness of IoT security highly depends on the speed and availability of these mediums.

3. Data Processing

After reaching the cloud infrastructure the data has to be analysed so that the right action can be taken. This process is however considered one of the most crucial obstacles in front of IoT app development. The analysis can be as simple as checking the temperature of the AC or a complex one such as a situation where an intruder comes in and the device has to identify it through cameras. The IoT application is made such that it can process all the data at a fast rate to take immediate actions. 

4. User Interface

The last step is when the user is notified about the action with the help of a notification or an alert sound sent to the IoT mobile apps. This way the user will know that his command has been run through the systems. 

However, this isn’t as easy as it seems. It all depends on what is IoT technology and how it has been developed. It becomes crucial for Internet of Things (IoT) app development companies to develop a system that can also be manually adjusted. In a situation where the temperature of the fridge is not cold enough to freeze ice cubes, users should be able to do that manually without the system backfiring.

{Also read: How to Use AI to Design Better Mobile App User Experience?}

Now as you have gained an insight of the internet of things concept, why Internet of Things is important and how does the internet of things work, let’s take a look at what are the uses of Internet of Things in the present world – besides backing the concept of Smart Homes and cars.

What IoT Means to the Business World

1. Healthcare

IoT in Healthcare has opened new doors of opportunity for medical specialists and patients. The purpose of  internet of things data is to enables doctors to get real-time access to patient medical data, store them on cloud, and share with others. It also cuts down the waiting time, helps to check for the availability of hardware and equipment, and simplifies the process to identify chronic diseases and take the right actions to mitigate the risk.

2. Education

Internet of Things technology is also revolutionizing the education sector. It is connecting people worldwide to ease the process of sharing knowledge, reduce the barrier in gaining access to any data, introduce security in education system, and more – a glimpse of which you can take from the video shared below:-

3. Retail

Another domain that is enjoying a myriad of opportunities and facilities after getting an understanding of what is Internet of Things technology and how to incorporate it in their processes is Retail.

The industry, with the help of what we call Internet of Things applications, is finding it easier to deliver personalized experiences to their user base, automate checkout processes, perform maintenance effortlessly, and more.

4. Sharing Economy

The combination of IoT and Blockchain, i.e, (Blockchain of Things) is reshaping the Sharing economy. The dual technologies are helping to build an online marketplace where data from all the companies and stores can be stored and shared securely and effectively using the concept of Smart Contracts. And eventually, used by others with the motive to cut down the efforts required from the user end.

5. Real Estate

IoT technology is also reshaping the real estate economy by speeding up the decision making process, offering more energy-efficient options, making space smart, and more.

6. Travel

Here, IoT is empowering travel agencies to deliver real-time information, automate most of the processes, and send electronic key cards on guests’ smartphones. And in this way, adding convenience, ease and security to their experience. 

Frequently Asked Questions about Internet of Things Technology

1. What is IoT simple explanation?

IoT, in simpler terms, is a technology that connects all electronic devices together and prompt them to exchange information without any human intervention

2. Can IoT work without the Internet?

Yes, it is possible in some cases. 

3. What does IoT mean and what are its uses?

IoT refers to an ecosystem of interconnected devices that share information with each other without human intervention. Different IoT applications that exist in the market are Smart homes, Smart Grids, Connected Health, Wearables, etc.

4. What are examples of IoT devices?

The Internet of Things examples include smart TVs, speakers, toys and wearable devices.

5. What are IoT devices?

IoT devices are the nonstandard computing devices that connect wirelessly to a network and have the ability to transmit data over the internet or other networks

6. What devices are considered IoT?

Wireless sensors, Computer devices, Software, and Actuators are considered as IoT devices.

7. What is the future of IoT?

The future of Internet of Things is bright. In 2018, there are only 7B IoT devices in the market. But in 2025, there will be more than 64B Internet of Things devices available globally.

Final Note – IoT Explained

So, as discussed in this article, the future of Internet of Things is bright ahead. It has a wider scope in almost every business vertical. The IoT ecosystem connects vendors and companies and makes solution planning simple for an efficient, reliable, and secure IoT system. But, if you still have any doubt related to how does IoT work, what is IoT devices, or wish to design an IoT-based solution for your business, connect our IoT mobility experts today.

The post Explained: What is Internet of Things (IoT) and How it Works? appeared first on Appinventiv.

The application of IoT in healthcare can improve the way things work in the medical world. From improved machine control to virtual medical assistance, IoT use cases in healthcare is the future. It can save the lives of patients with a fast diagnosis of diseases as well as finding an apt cure for it. 

The application of the technology has become so far-fetched that there is hardly a question on What is IoT or how it works. 

Like every new piece of technology, it has both advantages and disadvantages associated with it. IoT in healthcare has its own challenges and limitations which can impede the usage of the technology. But going by the joint advancement efforts of skilled IoT app development company and healthcare application development company, it can be ensured that we are reaching a time when the solution will remain safe.

Where Does IoT Fit in Healthcare?

A lot of times it happens that patients don’t get medical attention on time which can harm their health severely. The delay is caused due to many reasons- unavailable rooms in the hospital, traffic on the road, unavailability of extra doctors, delay in the identification of diseases, etc.

Most of the time, people have no idea that they are suffering from an illness. To identify any signs, a visit to the doctor is required. If heart rate checkups, blood pressure level, sugar level, etc. are regularly monitored then patients can be alarmed about any upcoming threats to their health.

Also, sometimes going to the doctor for something as simple as a stomach ache and paying a heavy fee is just not worth it. These could be easily solved if there was a way to connect doctors and patients virtually.

Internet of Medical Things (IoMT) is a network of connected devices that collect data in real-time. Internet of Medical Things is one of the key applications of IoT in healthcare, impacting the industry in a positive way and has the potential to solve medical issues. According to the IoT trends 2021, the IoT in healthcare market size was $22.5 billion in 2016 and is expected to reach $72.02 billion in the year 2021. It will provide personalized care and individual data-driven medical solutions.

Not only will IoMT be able to prevent any upcoming diseases but also will be able to cure the ones that have already been caused. The technology has been made as wearables so that patients can be monitored easily without visiting the doctor.

The Internet of Medical Things has divided segments for each medical issue being faced by the healthcare industry. The on-body segment focuses on customer health wearables and other medical-grade wearables. Some products used in this segment are Fitbit, Samsung medical, etc.

The in-home segment aims at an individual’s personal health tracker solutions. This segment includes personal emergency response systems (PERS), telehealth virtual visits, and remote patient monitoring (RPM).

The community segment consists of five components: Kiosks that dispense products and provide services, mobility services to patients’ vehicles, emergency response intelligence, point-of-care devices that act like medical camps, and logistics that keep a record of all the medical equipment and goods.

Another segment is the in-clinic segment. This segment includes IoMT devices that can be used inside a clinic to provide services. The medical solutions of the in-clinic segment also provide point-of-care devices.

The last segment of IoMT is the in-hospital segment which includes various solutions for several areas of management. Asset management monitors, personnel management, patient flow management, inventory management, and environment and energy monitoring are some of the devices in this segment.

If we look at the role of IoT in healthcare sector at a stakeholder level, we can see the technology making an industry-wide impact. 

For patients 

Wearable devices like glucometer, heart rate cuffs, fitness bands, etc. give patients access to personalized attention. The constant tracking ability that these devices offer can have a major impact on people who live alone as it can send alerts to their family members. 

For physicians 

Through the mode of wearable and home monitoring devices embedded with IoT technology, physicians are able to track patients’ health a lot more effectively. The data gathered from the IoT devices can help doctors identify the best treatment and monitoring process for patients. 

For hospitals 

In hospitals, IoT devices embedded with sensors can be used for tracking the real-time location of medical enablers and equipment such as defibrillators, wheelchairs, oxygen pumps, nebulizers, and other similar monitoring devices. In addition to equipment, it also enables the analysis of the deployment of the medical staff at multiple locations.

These devices can also help with asset management such as environmental monitoring and pharmacy inventory control, for example, refrigerator temperature and humidity control.

Through its multi-stakeholder involvement, IoT solves a number of pain points that are prevalent in a healthcare ecosystem. 

• Inefficient patient care
• Medical process mistakes 
• Supply chain management
• Medical research 
• Rural healthcare management

What are The Benefits of IoT in Healthcare?

IoT in healthcare is helping the way hospitals attend to the patients. While the rapid population growth is not helping to control the increased illness, old age, and other health issues, the introduction of IoT in healthcare may do it. IoT can also reduce the cost of medical treatment to a great low. The following are a few of the most noteworthy advantages of the Internet of Things:

Simultaneous reporting and monitoring

IoT in the healthcare industry has enabled doctors to monitor the real-time conditions of a patient which can prevent any emergency situations like heart failure, diabetes, asthma attack, cardiac arrest, etc. The impact of IoT in healthcare has made it easy for doctors to attend to multiple patients in a matter of minutes.

The medical reports of patients including blood sugar levels, ECG reports, X-rays, etc. are stored in the cloud and can be accessed with a mobile device whenever needed.

End-to-end connectivity and affordability

The Internet of things in healthcare applications can allow a better connection and use of the latest technology to enhance connectivity and data sharing. With technologies like Bluetooth, Wi-Fi, and other features, tracking and identifying illness becomes easy and less time-consuming.

This also reduces the overall time and cost of treatment. With technology, the cost of treatment will reduce by a huge sum, allowing patients to be treated easily.

Data analysis and data assortment

The use of IoT in healthcare involves storing massive data about the patient’s medical history. The IoT device also has to send data to other devices without any issues occurring in the process. Manually analyzing such huge data is impossible but devices can do it.

IoT devices can gather, analyze, track, send and receive data with the help of a cloud base. The cloud base is required as the size of data is huge and cannot be saved on the server. What can help make this adoption further and make it more efficient in terms of data storage and transfer is the Blockchain of Things. 

Real-time tracking and alerts

Imagine how many lives can be saved with emergency alerts sent by patients. The Internet of Medical Things has made this possible. With the help of a device, a patient’s medical information is recorded in real-time and can be sent to the doctor. In the case of any threat, the doctor will be informed immediately and can provide assistance accordingly.

Check-up on the go

With the help of IoT healthcare devices, patients can easily contact doctors on their mobile devices and get immediate assistance. With the latest IoT devices, doctors can identify any ailments on the go all the while saving travel costs and time. IoT in healthcare will also be able to dispense medicines from machines as per their prescription. This will be done by connecting the patient’s device with the medicine dispensing machine.

IoT Use Cases in Healthcare

The Internet of things healthcare is being used for some great work in the healthcare industry. From monitoring the patients to virtually assisting them, applications of the Internet of Things are immensely vast and diverse. Here are some of the use cases of IoT technology in healthcare:

Remote patient monitoring

It is one of the most common use cases of the technology in healthcare that an IoT mobile app development company works around. The applications are built to collect health vitals like blood pressure, heart rate, temperature, etc from the patients that are not physically present in the healthcare facility. The algorithms can then help analyze the vitals and recommend treatment or simply create an alert. 

Reducing wait time

Often a patient’s condition gets worse while waiting for things to be arranged or rooms to clear out in a hospital. With IoT in the healthcare industry, the waiting time can be reduced by more than 50%. When it comes to occupancy, IoT can track all the rooms and find the empty ones for the incoming patients who need immediate assistance.

Keep track of hardware maintenance

Every hospital has devices, machines, and equipment that are used to sustain human lives. Availability of these tools is necessary in order to save as many lives as possible. With IoT technology, hospitals can not only track the types of equipment but also be informed when a piece of equipment is about to fail. This helps the hospital in getting new devices before it’s too late.

Tracking employees and patients

A hospital has huge buildings and it becomes impossible to track where each and every employee or doctor is at a particular moment. It is the same for all the patients as well. With IoT technology, tracking the patients and the staff is easy.

This technology is also being used to track the assets of the hospital for security reasons. It is a highly efficient technology to track objects or people without any additional cost or efforts.

Drug management

Medicines are now being monitored by IoT devices to ensure the proper dosage and tracking of the effects of the medicine. It can also remind patients to take their medicine on time and in the right amount. If there is an overdose or underdose of medicine then the patient will be alerted.

Identification of chronic diseases

The Internet of things healthcare technology identifies any chronic illness a patient is suffering from. How that works is: a patient enters his symptoms and the device matches it with the already existing information to identify the disease.

Wearable devices like Fitbit are great trackers of heart rate, sugar levels, and blood pressure levels. Healthcare app development solutions for wearables and mobile apps have made people more health-conscious and aware of their medical conditions.  

A few examples of the Internet of Things applications in healthcare

Healthcare IoT devices are specimens of technical brilliance. These come in handy with loads of benefits of IoT like minimizing the waiting time for emergency rooms, patient, staff, and inventory tracking, discipline in drug management, and checking that critical hardware is available at all times. 

Hearables

The hearing aid has been around for ages thanks to the genius of Miller Reese Hutchison. With time, these devices underwent massive changes and are the ones currently powered by IoT have transformed the manner of interaction for people with hearing loss. These hearables are synced with smartphones via Bluetooth. Sounds can be filtered, equalized, and tailored to create real-world sound. 

Moodables

Stress can often cause declining mental health and there are times when patients with mental disorders or neurovascular problems need to uplift their moods. They are wearables mounted on the head that pass low-intensity currents to the brain. These electrical impulses help to alleviate the pain and lighten up the mind.

Smart pills

Smart pills are edible IoT pills that are used to monitor our body functioning and alert if any anomaly arises. They have micro-sensors that are ingestible and dissolve in the stomach. The body too is attached to a device that accumulates the data transmitted via the sensors. One can easily access the data through their smartphones. This is one of the IoT advantages which proves how powerful the technology is.

Healthcare charting

Patient charting by doctors requires a lot of time and effort. It’s a fascinating thing to know how IoT is implemented and through voice commands, doctors can summon a patient’s vital clinical information like medical history, demographics, diagnoses, medications, treatment plans, progress notes, immunization plans and schemes, allergies, tests (X-Ray, cardiology, radiology, urine, blood, etc.) and the results. Augmedix is one such device that does that.

Computer vision technology

A major development of IoT in healthcare projects is the drones which have proven to replicate visual perceptions ergo influencing decision making. These drones are powered by AI and have been known visually impaired people to alert about obstacles and avoid them. 

Challenges Faced in IoT Based Healthcare System

Even though IoT is being helpful in the healthcare industry, it has its limitations and challenges. Let us look at the adoption challenges of IoT in healthcare:

Privacy and security

Though the IoT benefits in healthcare are many yet we cannot ignore the challenges it is facing. The biggest threat to healthcare in IoT is data privacy and security. The massive data that is being transferred and stored on a regular basis can be hacked and used against the patient and the doctor.

Hackers can create fake IDs to buy drugs and medicines only to misuse them further. A solution to this pestering issue, however, lies in following the compliance set up by the government for healthcare application development USA.

Multiple devices and protocol integration

Everyone owns a different device and this difference in devices is causing problems with the performance of the technology. The internet of medical things has yet to find a solution regarding the compatibility of different devices with the IoT network. The connectivity of different devices slows down the entire process of data transfer, analysis, and retrieval.

Overloading and inaccuracy

Storing patient data means storing an impossible amount of data. Even with the internet of healthy things, the huge amount of data is becoming difficult to manage by the doctors. If this continues then the decision-making will be affected putting many lives in danger all at once. The more devices being connected to the network, the more will be the inflow of data.

Cost of the technology

It must be a surprise to see IoT cost in the challenges section. But the truth is IoT can reduce the treatment cost for a common man but hasn’t been able to do it yet. The Internet of things and healthcare have yet to make things cost-effective and it will take time. It has created the medical tourism situation where people travel to developing countries to get the treatment at a much cheaper cost. The cost of IoT app development is also higher than the usual cost of mobile app development.

The Future Scope of IoT in Healthcare

IoT has a lot of potentials and it’s not only in healthcare. Many IoT healthcare companies are working on new ways to use this technology to help our medical world. According to the IoT healthcare market trends, the industry is expected to grow to $8.9 trillion in the year 2020.

Even though IoT has challenges and limitations, it will not stop the technology from growing. The need for IoT in healthcare is huge and it can help the industry immensely. It can reach every patient from all over the world and connect doctors with patients. There is no denying that IoT has already made a huge impact and is only set to grow further.

It is a matter of time when the medical industry will be run mostly by IoT technology and will be treating patients in less time and low cost of treatment. Google and Apple are companies trying to make IoT and healthcare success and soon we shall see iOS and Android devices interacting with our medicines.

We at Appinventiv have  IoT app developers in New York and India that are ready to help you with your app idea. We have a proven track record for making IoT real-time applications. Contact us today!

FAQs

Q) How is IoT used in healthcare?

There are many applications of the Internet of Things that can be used by people for their benefit.  Patients, doctors, medical staff, families, insurance companies can use them to track important data and updates that are important for the concerned person(s). It makes healthcare professionals more keen-eyed about the patients so that no negligence occurs.

Q) What effect will the Internet of Things (IoT) have in healthcare?

With state-of-the-art healthcare mobility solutions, IoT enhances the patient care process in many ways like-

• Real-time Monitoring
• IoT Smart Pills
• Controlling Diabetes
• Smartwatches to cure Major Depressive Disorder (MDD)
• Monitoring of blood pressure

Q) What is smart technology in healthcare?

Smart technology or smart healthcare conforms to modern technology methodology of improving the patient workflow. The technology uses wearable devices with the IoT technology that can access copious information with automated responses and also catalyze the communication between to concerning parties (which include people or institutions). With more accuracy and speed, the healthcare ecosystem has truly benefited from this technology. 

Q) Why is IoT important in healthcare?

With healthcare progressing rapidly with the help of technology, IoT adds important value to it. 

The Internet of Things in healthcare makes it convenient for patients to be watched and monitored carefully and come up with preventive measures. The data collected through devices/wearables help in prognosis and diagnosis by a medical expert.

Q) What are the benefits of using IoT?

IoT is one of the most sought-after technologies at present. Every field, every industry is looking for the best IoT solutions to augment its growth opportunities. It has many advantages like

• Increasing the scope of communication
• Collecting huge amounts of data
• Generating automated responses
• Monitoring activities and habits
• Saving precious time and money
• Improving the quality of life

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Blockchain technology which was earlier seen as the driving force behind cryptocurrencies has now entered into every business vertical and process. The technology has transformed the complete economy and made it imperative for everyone to look ahead to a decentralized future. It has come up as a major disruptive emerging constituent of the contemporary internet-enabled era of technology. 

But, what’s more interesting is that this technology has proven to hold the potential to be the catalyst for other technologies. Aka, help other technologies bring out the best of their possibilities.

Now while, we have looked into how it helps Artificial intelligence in our blog, titled: Blockchain and AI – What happens when the technologies merge, let’s talk about the alliance of blockchain and IoT, aka, Blockchain of Things here.

To start with, let’s take a quick recap of what the terms ‘Blockchain’ and ‘Internet of things’ mean.

In a hurry? Jump directly to –

A Brief Introduction to What is IoT and Blockchain

IoT challenges that blockchain resolves

Use cases of Blockchain in IoT

10 Blockchain of Things Projects Transforming the World

Challenges Associated with Merging Blockchain and Internet of Things

A Brief Introduction to What is IoT and Blockchain

When talking about the Internet of things (IoT), it is basically an ecosystem that connects digital devices and objects to each other for interacting and transferring information in real-time, and that too without any human intervention. The technology is gaining a huge momentum in the market, a result of which is that it has been predicted that there will be around 75.44 Bn IoT connected devices worldwide by 2025.

Likewise, Blockchain is termed as a shared digital ledger that records all transactions in public/private peer-to-peer networks, such that every member of the network can access the records but can’t change them anonymously.

Now as the definition of the two trending technologies is cleared to you, let’s look at what challenges the IoT ecosystem is facing and what are the benefits of merging Blockchain with IoT.

IoT Challenges that Blockchain Resolves

Despite the growing advancements in this ecosystem and businesses & investors showing an interest in learning about IoT trends, the market is still suffering from various issues. A few of which are as follows – 

1.  Poor security

IoT enables multiple devices to access, exchange, and share data within the ecosystem. However, in the absence of human supervision and any authentication standards, it becomes much easier for hackers to hack any of the devices and use it as an entry point in the network and steal private and confidential information. In other words, the following types of security concerns are possible to exist-

• Software attacks – The connected device is infected via some kind of malware such as viruses.
• Physical devices attack – This involves unauthorized device control.
• Network attacks – Here, wireless vulnerability and denial of service attacks are considered for ruining the IoT ecosystem.
• Encryption attacks – Activities related to password cracking are brought into practice in this scenario.

Blockchain, in this scenario, helps with keeping a real-time track of history of all the connected devices and sensor data, checking for content duplicacy from harmful data sources, and providing consensus algorithms into the process to ensure identity verification and security advantages.

What’s more, blockchain acts as a decentralized database, making it difficult for anyone to gain access to sensitive information by hacking a particular centrally controlled system.

2.  No liquidity

Though IoT has come up with innovative ways to make communication possible between industrial and domestic appliances, devices, and machines, the technology is still naive in terms of empowering machines to order their own replacement supplies and parts. This is yet another area where the potential of cryptographic blockchain for IoT can be applied.

3.  Lack of trust

Another challenge prevailing in the IoT marketplace is lack of trustability.

Since every digital device can connect in the IoT network and gain access to information independently, there is a higher risk of collusion and distrust. The top IoT development companies fill this gap and add trust to the ecosystem with the involvement of blockchain in the IoT ecosystem. Aka, the technology having the characteristics of transparency, immutability, and decentralization.

4.  Lower scalability

Since IoT systems operate via centralized architecture, it is becoming increasingly tougher for one to connect billions of devices into the same network. An impact of which is rise in network issues and hacker attacks. 

Blockchain technology, here, introduces smart contracts in the networks that enable devices to function anonymously and securely by creating agreements that executes only when a specific task is completed. 

5.  Higher processing overhead cost

Currently, various third-parties are being asked to check and authenticate each micro-transaction  to ensure security in the IoT network. This is not solely a time consuming process, but also an expensive affair. 

Blockchain-based smart contracts mitigates these challenges by introducing the power of automation and eradicating the third-parties dependency.

Now while we have studied what Blockchain means to IoT, let’s take a look at some of the Blockchain of Things applications across industries.

Use Cases of Blockchain in IoT

1.   Supply chain and logistics

As you might have been already aware of, a global supply chain entails many stakeholders like brokers and raw material providers, and multitude of payments and invoices. This makes the process complicated, time consuming, and with less-to-no transparency. Besides, the risk of delivery delays is also common.

Here, the adoption of blockchain in the supply chain management process introduces transparency, ease of payments, and saves time & cost by removing intermediaries and decentralizing the ecosystem. The technology empowers the businesses to enjoy a secure data exchange and a tamper-proof repository for cargo documents and shipping events, eventually resulting in less delays and frauds.

Whereas, IoT enhances traceability throughout the shipment process by empowering machines to share details in real-time across the network. 

This way, the combination of Blockchain and IoT (aka Blockchain of Things) helps companies cope up with the challenges related to supply chain and logistics.  

2.  Smart Homes

Various smart home organizations are embracing Blockchain technology to make the data gathered and shared by smart devices immutable and prevent the risk of hacking.

They are also turning towards the idea of collaborating blockchain and IoT technology to provide users with an opportunity to share specific areas and devices with others safely and securely with giving them access to everything. For example, Comcast employs a permission-based ledger that enables smart home product users to grant access permissions remotely to others from their devices, such that these permissions can be revoked at any point of time. This could be particularly useful in situations like giving a virtual key of your house to a friend.

3.  Healthcare and Pharmacy 

Another industry that is revolutionizing with the adoption of Blockchain and IoT is Healthcare and pharmacy. The two technologies are helping the industry mitigate their traditional challenges like lack of data security, longer waited time, data inconsistency, and higher attached cost.

While the former technology eases the clinical research and drug development, supply chain management, and patient medical verification impact by introducing the power of decentralized distributed  ledger and immutability of data, the latter ensures end-to-end connectivity and data sharing in real-time.

Likewise, Blockchain speeds up the processes by replacing third-party intermediaries with smart contracts. Whereas, IoT makes it possible for healthcare practitioners and pharmacists to get familiar with any uncertain medical signs and prepare for new chronic diseases quickly and efficiently.

4.  Automotive  

Automotive is also one of the business verticals experiencing the impact of blockchain on IoT. The industry depends on the two disrupting technologies to leverage a wide range of benefits such as – 

• The two technologies are easing the process of finding a vacant space for parking and is automating the payments via crypto wallet; making it termed as smart parking.
• Using RFID tags, car manufacturers are finding it easier to ensure proof of provenance for the spare auto parts and track the exact location of any particular car in the IoT-connected world. Whilst, blockchain is helping with storing and sharing this information globally in the form of a public distributed ledger.
• Blockchain of Things (BIoT) is also making it possible for customers to claim for insurance immediately and effortlessly using the power of smart contracts.

Learn more about the use of blockchain and IoT in the automotive industry via this video – 

5.  Fintech 

Again, Fintech is also experiencing a significant change in its working environment with the advent of Blockchain and Internet of Things. 

When talking about the role of Blockchain in Fintech, the technology is helping with reducing paperwork, making data immutable and publicly accessible, performing transactions in the form of cryptocurrencies, identifying money laundering issues, and much more.

At the same time, IoT is changing the fintech scenario by offering a myriad of benefits such as immediate support and personalization services, introducing smart banks and ATMs, enhancing spending visibility, and assessing risk related to insurance and loan. An example of this happening is Hyundai, who showcased its ad in IIFA, is developing a platform where Blockchain supports the payments that happen between the devices, making the web of devices immune to hacking and malware attacks.

6.  Sharing economy 

Another industry that is gaining a huge momentum on integrating IoT with blockchain is the sharing economy.

The technologies are enabling companies to consider each property and device, be it house, car, washing machine, or bed as an IoT-connected device and share or sell on lease to others in the network without involving any third party intermediaries. Something that you will be able to understand better by looking into the working of Slock.it, a real-life use case of blockchain and IoT in the sharing economy.

With such potential, the Blockchain of Things (BIoT) market is growing exponentially. It was recorded to be valued USD 113.1 Mn in 2019 and is anticipated to be worth USD 3,021 Mn by 2024, growing with a CAGR of 92.92% during the forecast period.

Seeing this, if you are eager to harness the power of the convergence of blockchain and IoT in your business, it is likely that you wish to come across some existing projects so as to be fully sure about the investment.

Taking the same into consideration, let’s take a look at the existing projects working with the alliance of blockchain and internet of things.

10 Blockchain of Things Projects Transforming the World

Now as you know the types of BIoT projects ruling the marketplace and the type of competition you are going to face, it is obvious that you would be eager to connect with a reputed blockchain app development company and enter this space. 

However, it is not easy as it seems. When talking about merging the two most disruptive technologies into the traditional business model, developers face various challenges that often delays the process or demands higher fundings. 

So, with a motive to make you aware of those challenges and support your development team in the right way, let’s wrap up this article focusing on the same.

Challenges Associated with Merging Blockchain and Internet of Things

1.  Scalability 

The foremost challenge being faced in Blockchain and IoT convergence is the ability to scale the requirements of services over a dynamic network of devices. The consensus mechanisms followed by the blockchain technology saves us a lot of time and offers services like information neutrality, authentication, and fault tolerance. However, it also leads to issues like unsustainability of processing a wider network of nodes for every transaction, limited bandwidth, cloud-based architecture, and traditional data storage structures. 

2.  Varied Processing Time 

In an IoT ecosystem, a wide range of devices with varied computing capabilities operate. These devices have different potential and thus, run the encryption algorithms at differing speeds. This makes it difficult to maintain a particular processing power consumption and time.

3.  Wider Storage Requirements 

Blockchain technology reduces the need for a central server to store transactions and device IDs. However, it demands storing data on the nodes, which increases the size of the ledger. This makes it difficult for smart devices to manage the data.

4.  Legal Issues  

Since the convergence of blockchain and IoT is still a new territory to explore, IoT manufacturers and service providers have to follow certain legal compliances. This is yet another challenge that scares off various businesses from introducing blockchain into their IoT-powered system.

5.  Interoperability

Another challenge faced during the blend of blockchain and IoT is interoperability. This is so because the integration of private and public blockchains, maintenance of common standards for compliance, and integration of multiple open source platforms is still not possible.

6.  Security  

Blockchain-based architecture serves the world with a promise of data security. However, it is still challenging to meet other blockchain for IoT security parameters like privacy, authentic identity and prevention of data theft, unless a new design consideration is considered.

The post Blockchain of Things – The Perfect Fusion of Blockchain and IoT appeared first on Appinventiv.