Last Updated on March 2, 2020
In 2020, the Internet of Things is going to further disrupt and shape the industries. IoT sensors, blockchain, and food-sensing technologies fuse, to give the food industry new possibilities and make it more advanced. Along with IoT, blockchain technology is going to make the solution of food-connected problems simpler.
Safe and transparent food supply has all chances to cover the global market, leveraging the starvation statistics. That’s why IoT isn’t only about smart tech that brings comfort. It is about the power to start a business that contributes to global welfare.
However, like any new industry, IoT can pose some risks. The cybersecurity market is full of antivirus solutions, like TotalAV antivirus, but we still don’t know how they can be applied to the newly emerging branches of the digital world.
The Internet of Things is based on inter-machine interaction (M2M) technology. The model enables machines to use mobile networks to exchange or transmit information unilaterally. ?2? technology is effective in health and safety systems, production, utilities, energy, banking systems.
IoT tech is famous for its convenience. First of all, it is about security and control. Wherever you are, you have complete control of your home.
On a city-wide scale, the benefits are even more apparent: technology optimizes urban transportation and utility spending. The examples include urban facility optimization with the help of IoT. Smart garbage cans send a signal to garbage trucks only when filled.
The system analyzes the data and lays an optimal route for garbage trucks. And instead of driving as scheduled, cars only arrive when there is a need.
IoT Business in 2020
The solutions with the Internet of Things applied have gained traction on the particular market segments.
Smart Cities. The prospects of smart cities are the rosiest. McKinsey’s research says that the number of IoT-connected urban areas will grow to 600 globally during 2020-2021. By 2025, the cities are going to produce more than half of the world’s GDP. Therefore, a smart city is an emerging business opportunity where IoT brings value.
The rise of IoMT. The adoption of IoT in healthcare isn’t new. What is new is the research by Frost & Sullivan predicts a 26% growth rate of the IoMT market that will have reached $72M by 2021. Wearable sensors & devices, navigation technology, real-time supply chain traceability in drug export. Moreover, the IoT of today is going to improve the light and temperature control of the devices used for comprehensive patient care.
In fact, IoT is a source of power for lighting systems linked to scanning monitors. The emerging combination of mobile health applications with the virtual assistants and AI wearables defines a patient’s parameters and provides health monitoring at home. In fact, this is a shift from vertical solutions in medicine to people-oriented technology. With the fast implementation of telemedicine, IoT opens access to remote healthcare services.
Blockchain. Internet of Things needs blockchain to solve data security issues. As a decentralized, traceable, and hack-resistant data structure, the blockchain acts as a “trust factory” for device authentication and security. The influence of blockchain is evident throughout the IoT data life cycle:
- device registration in blockchain;
- transparency and traceability of data from peripheral to gateway to the blockchain;
- secure data processing and transmission.
Food value chains. Scientists develop the ways to combine data on industrial and farm processes connected with the content, as well as on the transportation of goods to shops into a single ecosystem. IoT for real-time supply chain transparency will reduce up to 4% of global food loss. According to the WEF Report on Food Value, blockchain-enabled traceability will reduce food loss by 2% globally.
Meanwhile, the Internet of Things collects comprehensive data about food products along the given supply chain. The traceability technology includes sensors that facilitate food safety & condition tracking (e.g. temperature, pH level, etc.). The approach will also ensure food safety and eliminate fraud supply.
Unique food-sensing technologies identify & analyze product information via ML and image-processing algorithms.
IoRT (Retail). Supply chain management has transformed under the impact of IoT. In 2020, the development of sensing technology enters our daily shopping experience. In particular, IoT is going to personalize commercial presence and, therefore, contribute to the customer experience strategy.
And the smart stores empowered by radio frequency identification tags (RFID) prove the point. RFID enables both inventory management for the employers as well as easy map navigation for the visitors. At the same time, lighting systems are going to analyze the way visitors behave in the store, which will help the retailers to build customer-oriented experiences.
Preparing IoT Product for Time-to-Market
Since the technology applies to a variety of industries that have a broad impact. Therefore, the market requires quality products and service solutions not only for home connectivity but also for addressing global problems. That’s the reason why security, usability breaches have to be prevented before the launch to prove the reliability of modern IoT technology.
- Usability Mode “On”
First, it is necessary to make sure the customer is comfortable with daily use. While the hardware has to display notifications, error messages, warnings, the software should record the activity. The stable operations of hard- and software help users to intuitively apply the product and control the database access.
Besides, it is essential the notifications are displayed on the monitor and provide the possibility to transfer data to the screens of other devices. That means new IoT products unify data display, data processing, task input from different devices.
- Data Safety
Data safety is one of the most discussed issues in the realms of technology. Before IoT products ship out to stores, the security check is a compulsory part of business strategy. When it comes to cross-device data flow, there is always the possibility that data may be available or read when transmitted.
The data has to be protected/encrypted when moving from one device to another.
- Flawless Connectivity
Connectivity plays a vital role, especially for healthcare solutions. Regardless of how reliable the system and network are, a dropped connection is always a risk. It is crucial to check the stand-alone working conditions.
Once the system is unavailable online, the warning message should appear. Moreover, a reliable temporary data storage mechanism is also a part of the connectivity aspect. The feature enables recollecting the most recent data in case of a connection drop.
The thing to remember: once the system starts operating, saved data must be distributed to prevent leakage.
- Flexible Compatibility
Assuming that the IoT system architecture is complex, checking the product for compatibility is mandatory. This involves multiple operating system versions, browser types, and associated versions, device generators, communication modes (WI-FI. Bluetooth 2.0, 3.0, 4G, 5G, etc.).
- General Performance
The purpose of businesses is to make sure the IoT app deals with massive data loads and emergencies. Simulated loads and abnormal situations are intended to check the IoT performance under the heavy traffic load.
Since IoT starts to mature, the application process will differ in every business area. While manufacture and healthcare will use IoT for operational improvement, retail will develop customer experience excellence. That’s why it is crucial to prepare your business to ripe the benefits from the emerging technology. 2020 is promising to start.