In the world of tech, the year 2023 will be remembered for the rise of AI, with ChatGPT and other Large Language Models (LLMs) taking over many tasks.
Meanwhile, as the superconductor shortage is mostly over, new challenges arise, including increasing competition with China, new regulations limiting the use of artificial intelligence, and our inability to contain the climate crisis..
Last year, I predicted that cellular service providers (CSPs) would move to 5G Standalone, enabling critical IoT features. While many CSPs have launched pilot trials of the enhanced 5G services, only some commercial networks are taking full advantage of those yet.
CSPs continue sunsetting 2G and 3G networks, leaving many legacy devices without connectivity. Many industries are now having a renewed discussion about moving from cellular IoT to other low-power-wide-area networks (LPWANs), such as LoRaWAN.
Finally, 2023 saw the consolidation of the Matter smart home standard, as most connected devices in the market support the new protocol.
Here are the five trends that I believe will dominate the IoT market in 2024:
1. Cellular service providers (CSPs) start testing 5G Advanced and NR-RedCap
According to the latest Ericsson Mobility Report, cellular IoT connections are expected to reach 3 billion in 2023 and to have a CAGR of 12 percent through to 2029, with the number of Broadband IoT and Critical IoT (4G/5G) connections expected to double in 3–4 years.
Credit: Ericsson
The growing demand for enhanced IoT connectivity and the emergence of NR-RedCap as a cost-effective and energy-efficient solution for low-complexity devices are driving adoption among CSPs. 5G Advanced, with its expanded capabilities and higher data rates, will enable new IoT applications and use cases. At the same time, NR-RedCap will cater to the vast IoT ecosystem of low-power, low-bandwidth devices.
As a result, CSPs will increasingly invest in 5G Advanced and NR-RedCap infrastructure next year, expanding the reach and capabilities of their IoT networks.
2. Matter 1.2 enhances smart home connectivity with video support
The introduction of Matter 1.2, the second major update to the Matter smart home standard, will introduce support for video devices, particularly surveillance cameras. This enhanced functionality will enable seamless integration of video monitoring into smart home ecosystems, facilitating enhanced security and remote surveillance capabilities.
As Matter consolidates its position as the default standard for smart home connectivity, including video monitoring support in Matter 1.2, it is expected to accelerate its adoption further and drive the development of innovative smart home applications that leverage video technologies.
Credit: Atomi Smart
The Matter standard unified connectivity and security for smart home devices, bridging the gap between various platforms and applications. Since its first public release, launched in December 2022, it has been considered the default platform for smart home devices across different vendors.
3. OpenRAN adoption accelerates, challenging traditional 5G vendors
OpenRAN, a modular and open architecture that separates the radio access network (RAN) from the core network, allowing for multiple suppliers for different components, is gaining momentum as a more cost-effective and flexible alternative to traditional 5G infrastructure.
Credit: Ericsson
The ban on Huawei equipment and rising component costs are further driving the adoption of OpenRAN, with CSPs increasingly testing OpenRAN solutions. This trend will continue into 2024, challenging the dominance of traditional 5G infrastructure vendors and opening up new opportunities for OpenRAN and vRAN developers.
5. AI moves to the Edge, leveraging IoT devices’ enhanced performance
The convergence of IoT and AI drives the development of Edge AI, where AI processing is performed on the devices rather than in the cloud. This approach offers several advantages, including reduced latency, improved data privacy, and better scalability.
Credit: NXP
As IoT devices become more powerful and AI algorithms become more efficient, edge AI will become increasingly prevalent. This trend will further revolutionize the IoT ecosystem, enabling real-time decision-making and new, previously impossible applications.
4. AI regulation slows down deployment of new applications
A surge in AI-related regulations accompanies AI’s growing adoption in IoT applications. The European Union AI Act and President Biden’s executive order on artificial intelligence are just two examples of the tightening regulatory landscape.
Credit: European Parliament
These regulations aim to ensure the ethical and responsible development and deployment of AI, but they also pose challenges for enterprises developing new AI-powered IoT solutions. As a result, some enterprises may only launch new AI applications once the regulatory landscape becomes clearer.
Happy 2024!
The post Five IoT Predictions for 2024 appeared first on IoT Times.
This post originally appeared on TechToday.
