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The expansion and evolution of the IoT sector will result in a plethora of transformational technologies. Our IoT gadgets, which range from houses to autos and wearables to drones, are poised to reach whole new heights very shortly. IoT technology will enable new levels of innovation in industries such as digital payments, industrial automation, and security applications, among others.
Healthcare Technology: 5G-enabled medical gadgets are poised to completely revolutionize the healthcare industry. To assist healthcare practitioners in managing the constantly expanding demand, phenomenal advances are being made in telemedicine technologies, remote patient monitoring systems, and wearable medical gadgets.
Wearables: Spending on wearable devices more than quadrupled between 2019 and 2022. This market is expected to increase at the same rate in 2023. The wearable technology industry is as extensive as our imagination, ranging from fitness monitoring applications and smartwatches to implantables and smart apparel.
Events Technologies: This increased degree of interconnectedness creates enormous opportunities for event organizers. They may leverage this cutting-edge technology to create an unforgettable guest experience, sustaining the value of in-person attendance in the face of ever-improving internet broadcasting.
Autonomous Vehicles: The average yearly increase of the connected automobile market is now estimated to be 17.1%, with its 2019 value ($63.03 billion) expected to expand to $225.16 billion by 2027. And it is the 5G connection that is driving the significant industry expansion.
Smart City Infrastructure: IoT technology has the potential to overhaul a whole city's infrastructure. These technologies will enable the development of smart energy grids, intelligent traffic control systems, and smart houses, to mention a few prospective applications.
VR and Metaverse Devices: The worldwide metaverse market is expected to reach $1.35 billion by 2025, and investment in the metaverse is increasing rapidly. For example, if we look at the previously established growth trend, we can see that, according to a CB Insights study, venture capital investment in metaverse firms hit $2.5 in the first three quarters of 2020.
AR Devices: Drone technology has a wide range of uses, covering everything from personal usage to architectural projects. Nottingham Forest, where they are growing the world's first 5G-connected forest, is one pioneering example of drone deployment.
Drones: AR technology are also expected to advance significantly in 2023. Along with the interest that AR devices are generating in CX experiences and virtual purchasing, they are also being aggressively invested in for usage in medical settings and training in severe conditions.
Smartphones: 5G connection is propelling significant advancements in our cell phones and their capabilities. With the fast growth in internet speeds comes the possibility of a plethora of new functions. As usual, the current iPhone release provides an excellent indicator of where the mobile market will be in 2023.
Manufacturing Robots: The factory robot industry is expanding, but not at the same rate as other IoT technologies. Robotics AI, and robotic depalletization are some of the most prominent trends in this field.
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