We hear about the Internet of Things or more commonly IoT technology every day now. But what is it? What are the benefits of its implementation? And what are the expected trends for 2023?

The Internet of Things (IoT) concerns the networking of physical objects equipped with sensors, software, and other integrated technologies with the purpose of exchanging data with other devices and systems over the Internet.

In 2022, more than 10 billion devices worldwide were connected to the Internet and the market is estimated to reach a value of $1.6 trillion by 2025.

IoT technology is widely adopted everywhere, both by consumers and industries, and the number of connected devices grows every day. Want to learn more about what the trends of 2023 will be? Keep reading this article!

The IoT technology market in Italy

The report of the “Osservatorio IoT” of Politecnico di Milano revealed that the IoT market is expected to experience strong growth in 2021, with a 22%  increase compared to 2020 (reaching a total value of EUR 7.3bn).

As the market continues to expand, the supply level of IoT solutions and technologies is also growing, reaching 110 million active connected devices.

36% of large enterprises and 40% of SMEs have decided to increase their investments in IoT technologies.

More and more companies are aware of the potential of IoT: in fact, about 96% of large companies and 46% of SMEs claim to be familiar with this technology, percentages that are expected to continue growing in the coming years.

Types of connected IoT devices

The number of devices connected to IoT technologies has been steadily increasing in recent years and will continue to grow in the future (Fig.1).

Fig.1 IoT and non-IoT devices from 2010 to 2025

IoT devices can be divided into consumer and industrial groups according to their field of use. Here are some examples of IoT devices.

Consumer solutions

The most popular and well-known Consumer IoT technologies are smartphones, smartwatches, trackers, wearable devices, smart assistants, and home appliances.

The Industrial IoT

Industrial IoT (IIoT) technology helps to improve the efficiency of industrial systems in various sectors such as mining, manufacturing, medical, agriculture, automotive, logistics, and many others.

IIoT devices are lower in quantity than consumer IoT devices,  but they are generally more expensive.

The long useful life of these systems places high demands on the reliability of software, parts, and assembly, resulting in increased device costs.

IoT trends in 2023

As mentioned above, the use of IoT technologies is set to grow again in 2023. It’s becoming the third most popular technology that North American and European companies have implemented or plan to implement. But what are the main trends in 2023?

Smart city

IoT technology is being used to enhance city infrastructure and solve numerous problems, such as traffic, congestion, and safety, thereby improving the quality of life in urban areas.

By 2025, global revenues for IoT in Smart Cities are expected to exceed 241 million, with a 61% increase compared to 2022.

IoT healthcare solutions

Through the use of IoT technology and various trackers, such as smartwatches and other smart devices, doctors can readily obtain information about their patients’ health status.

For example: a skin-sensing device, connected to a smartphone, uses image processing and recognition algorithms and enables the self-diagnosis of skin neoplasms with up to 80% accuracy in the shortest possible time.

IoT energy management

Investing in IoT technologies for energy management can provide companies with a competitive advantage over their competitors.

In particular, the main benefits of introducing IoT sensors and analyzing energy consumption are:

• Optimization of production processes
• Development of more efficient smart electricity grids
• Optimization of consumption
• Reduction of environmental impact
• Reduction of final costs

Zerynth’s solutions make it possible to reduce the energy consumption of both new and old machinery and industrial plants. In fact, using Zerynth’s solution, Armal was able to reduce the energy consumption of legacy machinery by 60% and modern machinery by 40%. Read the case study to learn more.

Smart manufacturing with Industrial IoT

The growing demand for manufacturing automation is driving the development of Industrial IoT technology. This trend is expected to continue in 2023.

To help industries to remotely control their real-time production, Zerynth offers several solutions through its IoT & AI platform.

The platform enables companies across various industries to monitor production, and reduce tooling times, downtime, and energy consumption, resulting in benefits such as improved efficiency of production processes and reduced final costs.

For example, a company in the engineering sector chose that chose Zerynth’s services obtained tangible results in no time, including optimized production, reduced energy consumption, and decreased machine downtime thanks to early detection of anomalies.

Cybersecurity

Cybersecurity is one of the main concerns with IoT technology, and addressing this issue is a key trend in 2023. IoT Security focuses on making this technology more secure. One of the reasons  IoT systems are vulnerable is because they store sensitive data, which hackers can steal, making them a prime target for cyber attacks.

Zerynth technologies are designed with both privacy and cyber security in mind, aiming to offer maximum protection against cyber attacks and data leakage. Here is an in-depth look at this topic.

Why Zerynth

Why choose Zerynth? Our  Industrial IoT & AI platform offers several advantages, including:

• a plug-and-play functionality, for easy and quick implementation
•  automated data aggregation  and processing seamless integration  with third-party systems, MES, and ERP

As the market for IoT technologies continues to grow in the industrial sector, it will be necessary for companies that want to remain competitive to implement an Industrial IoT solution. Don’t fall behind! Contact us to learn more about our solutions and stay ahead of the game.