With the rise of smart devices, we have opened a doorway to an interconnected world. From tech-enabled cars and homes equipped with smart kitchen appliances like kettles, fridges, and alarm systems to industrial machinery in workplaces - our surroundings are becoming more connected daily! We're witnessing cities transform into "smart" versions that feature digital infrastructure capable of gathering data from its citizens while providing valuable insight on how they can improve their environment continuously. The Internet of Things (IoT) is paving the way for limitless opportunities as physical objects become increasingly integrated into networks that allow them to communicate and share information quickly within seconds or minutes.

By 2023 it's expected there will be an astonishing 43 billion devices linking up across networks worldwide – poised to captivate us all with how they generate data from every area imaginable. To make sense of what comes next year for these gadgets, let's explore some intriguing trends about their use set to take hold.

1. Increased use of AI and Machine Learning

Artificial intelligence (AI) and machine learning are impacting our lives today, but what will the future hold? We’re seeing the potential of how AI and machine learning can shape and improve businesses through the internet of things. By 2023, AI and IoT will be intertwined.

The applications for AI and ML within the IoT space are vast, ranging from connected home appliances to smart manufacturing services. As more devices connect to the internet, it becomes increasingly important for data to be collected, organized, analyzed, and acted upon quickly and accurately. AI and ML can help facilitate this process by providing predictive analytics that allows companies to anticipate customer needs before they even arise. This allows them to provide better service while improving efficiency and cost savings.

Additionally, AI-powered virtual assistants like Siri or Alexa can control various aspects of an IoT system, such as setting alarms or playing music. In addition to responding intuitively when given commands or asked questions, these virtual assistants can also learn over time based on user preferences or past behavior—allowing them to become increasingly helpful.

As AI advances into the IoT space, we can expect even more automation across all aspects of our lives. For example, Autonomous vehicles will become commonplace on the roads; voice-activated home hubs will enable users to integrate multiple devices into their households easily; factories will use robotics combined with 3D printing technology for faster production times; drones will be used for deliveries; healthcare systems will employ predictive analytics for preventative care; etc. In short, AI-driven solutions will be everywhere—making life more accessible than ever before.

2. Advances in AR and VR Technology

In just a few short years, augmented reality (AR) and virtual reality (VR) technologies have made remarkable advances. The impact of AR/VR on the Internet of Things (IoT) landscape is already being felt, and it promises to become more powerful and prevalent in the future.

By 2023, AR/VR technology will be even more deeply embedded into everyday life than it is now and will profoundly impact how users interact with IoT-driven products and services. For example, customers can experience virtual product demos in their homes using AR and VR technology. This will revolutionize how industries like furniture manufacturers sell their products, as customers can “try before they buy” without ever leaving their living rooms.

In addition to improving user experiences, AR/VR technology enables IoT manufacturers to develop new solutions for businesses and consumers. By allowing developers to prototype quickly and test ideas in real-time, AR/VR technology can minimize costly mistakes and help them bring new products to market faster than ever before, opening up a whole new world of possibilities for innovators in the field of IoT.

Finally, AR/VR technology advancements make it easier for businesses to monitor their connected devices remotely. With new tools like remote monitoring dashboards, companies can keep an eye on their connected products from anywhere in the world — helping them identify potential problems before they become major issues. This level of transparency can go a long way toward improving customer satisfaction levels while reducing costs associated with maintenance and repair work on faulty devices.

3. More Widespread Use of 5G Networks

5G is the fifth generation of cellular network technology. It offers significantly faster speeds than its predecessors (think 2G, 3G, and 4G technologies), with peak speeds of up to 10 gigabits per second. This means a user can download a full HD movie in just a few seconds rather than minutes. In addition to speed, 5G also offers enhanced capacity and reliability thanks to new technologies such as carrier aggregation and beamforming.

There are many potential applications for 5G technology. One of the most exciting use cases is the internet of things (IoT). With 5G, it will be possible to connect billions of devices to the internet at extremely low latency enabling new applications such as autonomous vehicles, smart cities, and remote healthcare.

5G will impact businesses by bringing the power of edge computing closer to them. Edge computing is when data processing and storage happen at or near the data source instead of a centralized location (like in the cloud), reducing latency and making data transfers quicker and smoother. With edge computing powered by 5G networks, businesses can take advantage of new opportunities for real-time data processing and reaction times that were not possible before.

Another exciting application for 5G is virtual reality (VR). With current 4G networks, VR experiences are often laggy and unreliable. However, with 5G, VR users can enjoy smooth and responsive interactions in virtual worlds hence revolutionizing gaming, entertainment, and many other industries.

4. IoT Governance and Regulation

Governments worldwide have begun introducing to ensure that data is collected and used responsibly. EU’s legislation, in particular, will look at data collection restrictions and security breaches; additionally, they'll tackle edge computing – an approach that processes user-collected information "at source" rather than sending it back offsite for analysis. The same is happening in other countries, too—in India; for example, the government has introduced the Personal Data Protection Bill, which ensures that any data collected by an organization is done with the consent of its customers or users. China also is taking a major leap forward as the government's three-year plan finally comes to fruition. Across the country, they are opening up access and adoption of 'Internet of Things' (IoT) technology - promoting economic prosperity while exercising caution on important privacy concerns.

Businesses must also comply with sector-specific regulations when operating in specific markets such as healthcare or finance. These regulations can include provisions on data encryption standards or mandated reporting requirements and can vary considerably from country to country. It’s essential for businesses operating in these spaces to understand their local laws thoroughly before engaging in any activities related to digital technology or IoT.

It's hard to believe that we are already almost at the end of 2022 and that 2023 is just around the corner. But as they say, time flies when you're having fun – or in this case, when you're busy keeping up with the latest trends in technology! We looked at some of the top IoT trends experts predict will be big in 2023. All of these trends point to one thing – an even more connected world where IoT devices play an even bigger role in our everyday lives. If you want to stay ahead of the curve and be prepared for what's to come, register at IoT2Market for a free account today so we can help you get started with developing your own IoT solutions and take advantage of all the opportunities that will arise from these emerging trends.