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The Evolution of Internet of Things (IoT) Platforms
Platforms for the Internet of Things (IoT) have been rapidly evolving. In 2023, the development of reliable interoperability between two radically different IoT systems was a primary focus of IoT platform companies. This approach is crucial in today’s market space as there is a surge in demand for the integration of machine learning and AI for the analysis of data collected by IoT devices.
IoT platforms simplify the process of adding new devices to the network, configuring them, and updating their settings remotely. They also collect data and have tools for analysis. The prerequisite data formats enabled by these IoT platforms simplify the initial hurdles in conducting analytics. They also have scope for customization and integration of multiple IoT systems, if necessary.
Innovation in IoT platform development has shifted towards an industry-driven approach. Efforts are being made to develop IoT platforms in isolation while also understanding and addressing specific use cases prevalent in target industries. This has been particularly evident in the launches associated with Edge IoT and AIoT–major branches of technological advancements in IoT.
Security in IoT is a pervasive concern since each connective device is a potential entry point for invasion. These devices are also of diverse types and pose challenges in implementing standardized security measures. Inadequate authentication mechanisms, coupled with the vast attack surface, make unauthorized access and data manipulation more likely.
Looking ahead, IoT adopters will focus on building the IoT software backbone, developing IoT applications, and infusing AI in the coming five years. It is expected that 47% of IoT applications will have an AI element by 2027. The integration of AI and machine learning in creating intelligent IoT systems, the rise of edge computing, and the integration of blockchain for enhanced security are some of the emerging technologies transforming the industry.
The evolution of IoT platforms is a testament to the relentless pursuit of innovation in the digital world. As we move forward, the integration of AI and machine learning, enhanced security measures, and the development of industry-specific solutions will continue to shape the future of IoT.
