The astronomical scale of the Internet of Things (IoT) market is set to expand in the coming years. By 2025, it is estimated that the number of IoT connected devices will skyrocket to 75.44 billion. In other words, regardless of the type of business that is being run, the IoT industry is one that all business executives will need to keep a close eye on.

But, why is it that this market is set to escalate so rapidly in just a few years? There truly are dozens of innovations and new implementations being developed every single day to spearhead the industry growing at a rate too fast for most to adapt.

A plethora of the most popular trends are terms and ideas that most businesses are at least somewhat aware of. The following will soon need undivided attention as they are set to change the game.

Edge and Fog Computing

The rise of edge and fog computing is going to have a direct correlation to the IoT platform. While cloud-based solutions are helping more and more businesses efficiently analyze data more efficiently than ever before, an overreliance on these cloud platforms can be problematic.

Both edge and fog computing are similar concepts as they function in very similar manners. To mitigate some of the traffic that can cause latency issues on the cloud, these technologies allow data to be calculated and filtered on local devices. This data progression enhances the efficiency by which companies can analyze practical data. Expect to see the adoption of this type of computing technology continue to rise.

Artificial Intelligence

Every day people are being affected one way or another by the influence that artificial intelligence (AI) has had on society. In the world of IoT, AI is one of those technologies that is mandated. Given the sheer amount of IoT connected devices that are being estimated in the future, this only means more data will be generated.

This surplus of data becomes reliant on AI algorithms. The beauty of such algorithms is they can produce logical results that businesses can utilize in positive ways. It is a two-way street, however, as AI technologies would be impractical without the countless amounts of data that IoT devices generate.

They need each other to thrive and with the AI market being spurred by juggernauts such as Google and Microsoft, it will only have a greater influence on the IoT as time moves on.

Improved Data Analytics

The improvement of data analytics for major corporations is a byproduct of AI and similar technologies. Businesses would be lost without data analytics, as physical, real-world data is one of the best resources that any company can possess to enhance their success.

The retrieval and subsequent application of this type of data in the IoT platform is only going to advance with innovations such as Big Data and AI. In addition to improvements in the workplace, this means a better experience for consumers too.

The IoT platform is going to continue to shift and evolve and organizations need to constantly adapt to it. IoT affects our day-to-day operations and we understand that it always changes. We are an analytics-driven company and use data to better all companies that we partner with. If you would like to learn more about what we can offer your business, please reach out today.