Security News > 2024 > May > 4 IoT Trends U.K. Businesses Should Watch in 2024
With help from Steve Statler, the chief marketing officer at IoT technology provider Wiliot, TechRepublic has identified the top four trends emerging in IoT that U.K. businesses should be aware of: the Product Security and Telecommunications Infrastructure Act, narrowband IoT, AI-augmented IoT and new memory technologies.
The following year, the IoT Cybersecurity Improvement Act, which came into force in the U.S., prohibits agencies from using IoT devices that don't comply with standards set by the National Institute of Standards and Technology.
"At the individual device level, IoT equipment is particularly vulnerable to common security pitfalls. Even one unprotected device can lead to a potentially damaging attack. These challenges need to be addressed to account for rising attacks on IoT devices."
The modus operandi of the majority of IoT devices is data collection and, according to the International Data Corporation, the total amount generated by IoT devices will be 80B zettabytes by 2025.
McKinsey analysts claim that predictive maintenance can increase production line availability by up to 15%, thereby reducing maintenance costs by up to 25%. Savings can also be made in energy efficiency, with IBM reducing the energy consumption of cooling systems in its commercial buildings by 30% since applying machine learning IoT. Jeff Torrance, senior vice president in industrial and embedded IoT for Qualcomm, said in the RB3 Gen 2 announcement, "Coming soon, we will be expanding our portfolio of IoT products to address high-performance, industrial grade solutions that will bring a new era of intelligence, functional safety, and robust high-performance compute and I/O capabilities to the most demanding industrial applications."
A number of non-volatile memory technologies are starting to be prepared for IoT devices, such as magnetic RAM and resistive RAM. These chips enable faster data access and lower power consumption during data storage and retrieval operations, enhancing the performance and efficiency of IoT devices.