Top Trends in IoT Hardware Development: What You Need to Know in 2024

The Internet of Things (IoT) is advancing at a rapid pace, revolutionizing industries and transforming everyday life. From smart homes to connected healthcare and industrial automation, IoT is reshaping how we interact with the world. Behind every IoT application lies sophisticated hardware that enables devices to collect, process, and communicate data. As we move into 2024, the landscape of IoT hardware development is evolving, bringing new opportunities and challenges for businesses, developers, and consumers.

This article will explore the top trends in IoT hardware development in 2024, highlighting emerging technologies, key advancements, and the role of IoT consulting services in shaping the future of connected devices.

1. The Rise of Edge Computing in IoT Hardware

What is Edge Computing?

Edge computing refers to the processing of data near the source of data generation, rather than relying solely on centralized cloud servers. In the context of IoT hardware development, this means that devices can process data locally (at the "edge") to reduce latency, increase speed, and improve security.

Why It Matters in IoT Hardware Development

As IoT devices become more prevalent in critical areas like healthcare, industrial automation, and autonomous vehicles, the need for real-time data processing is growing. Edge computing allows devices to make instantaneous decisions without waiting for cloud-based processing. For instance, a smart sensor in a manufacturing plant may detect a potential machine failure and initiate corrective actions in real time, preventing costly downtime.

Stats:

According to a report by Gartner, by 2025, 75% of enterprise-generated data will be processed at the edge, up from just 10% in 2020. This shift highlights the growing demand for edge-enabled IoT hardware.

How IoT Consulting Services Are Helping

IoT consulting services play a crucial role in implementing edge computing solutions by providing expertise on optimizing hardware for local data processing. Consultants can help businesses select the right edge devices, ensure compatibility with existing systems, and design architectures that balance efficiency and scalability.

2. Smarter Sensors for IoT Applications

The Role of Sensors in IoT

Sensors are the backbone of IoT hardware. They collect data from the physical world, such as temperature, humidity, motion, and even air quality, and relay it to other devices or centralized systems for analysis. The smarter these sensors become, the more useful they are for a range of applications.

What’s New in 2024?

The trend in 2024 is the development of more intelligent, multi-functional sensors capable of higher accuracy, lower power consumption, and better connectivity. For example, smart sensors are now able to detect a wider range of environmental factors (like pollution levels or biometric data) and process them more efficiently.

Biometric sensors: These sensors are used in healthcare devices to monitor heart rates, blood pressure, or even glucose levels in real time. In 2024, they are becoming more compact, accurate, and power-efficient.

Environmental sensors: These sensors are used in agriculture and smart cities to monitor air quality, temperature, and soil conditions. Advances in wireless communication and energy harvesting are driving their adoption in remote areas.

Stats:

The global smart sensor market is expected to grow at a CAGR of 18.2% from 2021 to 2028, according to Grand View Research. This growth is driven by demand from industries like healthcare, automotive, and smart cities.

The Role of IoT Consulting Services

IoT consulting services can assist businesses in selecting the right sensors for their IoT applications, ensuring optimal performance and cost-effectiveness. Consultants help in the integration of these smart sensors with cloud platforms or edge devices, providing advice on data management, security, and system scalability.

3. Energy-Efficient IoT Hardware

The Push Toward Sustainability

Energy efficiency has become a critical factor in the design and development of IoT hardware. As more devices are connected to the internet, power consumption is becoming a growing concern, particularly for large-scale IoT deployments in smart cities or industrial setups.

How 2024 is Different

2024 IoT hardware development trends are focusing on creating low-power IoT devices that can operate on minimal energy. Technologies like energy harvesting (using ambient energy sources like light or vibrations to power IoT devices) and low-power wide-area networks (LPWAN) are gaining popularity.

For instance, LoRaWAN and NB-IoT are low-power, long-range communication protocols used for IoT devices that don’t need to be constantly connected to a power source. This makes them ideal for remote locations where running power cables is impractical.

Stats:

The IoT energy harvesting market is expected to grow from USD 290 million in 2022 to USD 1.14 billion by 2028, with a CAGR of 25.9%.

How IoT Consulting Services Can Assist

IoT consultants help businesses integrate energy-efficient IoT solutions by recommending the best power management techniques, such as low-power hardware and battery-free devices. They also assist in designing systems that maximize energy efficiency, contributing to both cost savings and sustainability goals.

4. AI-Driven IoT Hardware Development

AI and Machine Learning in IoT

Artificial Intelligence (AI) and machine learning (ML) are increasingly being embedded into IoT hardware to enable devices to learn from data and make autonomous decisions. This fusion of AI with IoT hardware is being referred to as AIoT (Artificial Intelligence of Things).

How AI is Impacting IoT Hardware Development

In 2024, IoT hardware is becoming smarter due to AI and ML capabilities. IoT devices can now process data locally and adapt to changing conditions. For instance, AI-enabled smart thermostats can learn a user’s preferences and automatically adjust temperature settings to optimize energy use. Similarly, AI-powered industrial sensors can predict equipment failures and suggest maintenance schedules before any breakdowns occur.

Stats:

The AIoT market is projected to reach USD 76.5 billion by 2028, growing at a CAGR of 30.4%, according to Market Research Future.

How IoT Consulting Services Play a Role

IoT consulting services are vital in integrating AI and ML technologies into IoT hardware. They assist businesses in selecting the right AI algorithms, sensors, and data analytics platforms, ensuring that the hardware is capable of processing and learning from data efficiently.

5. 5G and IoT Hardware Development

The Impact of 5G on IoT

The rollout of 5G networks is significantly impacting IoT hardware development. 5G provides faster speeds, lower latency, and more reliable connections, making it ideal for IoT applications that require real-time data transmission.

How 5G Is Shaping IoT Hardware

In 2024, the adoption of 5G-enabled IoT devices is accelerating. With 5G, IoT devices can communicate faster and more reliably, making applications like autonomous vehicles, remote surgeries, and smart cities possible. 5G IoT devices can support a much larger number of connected devices in a given area, offering low-power and high-efficiency connectivity, which is essential for large-scale IoT deployments.

Stats:

The global 5G IoT market is expected to grow from USD 4.47 billion in 2022 to USD 34.7 billion by 2030, at a CAGR of 29.9%, according to Fortune Business Insights.

Role of IoT Consulting Services in 5G Integration

As IoT hardware continues to evolve with 5G, IoT consulting services will help businesses develop solutions that take advantage of this new connectivity. Consultants provide guidance on how to design hardware to be compatible with 5G infrastructure and ensure that it meets the necessary performance and security standards.

6. Security Concerns in IoT Hardware Development

Why IoT Security is Critical

As IoT devices proliferate, security concerns are becoming a major issue. IoT hardware is often vulnerable to cyberattacks, with hackers targeting devices to gain unauthorized access or disrupt operations. In 2024, addressing security in IoT hardware development is a top priority.

Key Security Trends in IoT Hardware

In 2024, hardware manufacturers are focusing on building secure IoT devices with integrated security features like end-to-end encryption, secure booting, and hardware-based security. IoT devices will also use blockchain technology to ensure that data shared between devices is tamper-proof and verified.

Stats:

According to Cybersecurity Ventures, the cost of cyberattacks on IoT devices will exceed USD 6 trillion globally by 2025.

How IoT Consulting Services Address Security

IoT consulting services help companies assess the security needs of their IoT hardware and develop solutions to prevent cyberattacks. Consultants can assist in implementing best practices for device authentication, encryption, and data privacy, ensuring that all IoT devices comply with the latest security standards.

Conclusion

As we move through 2024, IoT hardware development is evolving rapidly, with new technologies and trends emerging that will shape the future of connected devices. From edge computing and AI-driven devices to 5G integration and energy-efficient hardware, the possibilities for IoT hardware are expanding.

Businesses that wish to stay ahead in this competitive landscape should consider leveraging IoT consulting services to ensure their hardware development is optimized for performance, security, and scalability. With the right consulting support, companies can effectively navigate the challenges of developing and deploying IoT hardware solutions, positioning themselves for success in an increasingly connected world.