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10 relevant IoT trends in 2023.

The IoT is in its golden age and the IoT-mindset has now entered organisations of all sizes. What can we expect in 2023?

Welcome to the 10 most relevant IoT trends in 2023!

As technology continues to evolve and shape our daily lives, the Internet of Things (IoT) plays a crucial role in driving innovation. In this post, I aim to provide insights into the latest IoT trends and how they are shaping the future. Whether you are a seasoned IoT professional or just starting to dive into this exciting field, this post will give you a comprehensive overview of the key trends to watch in 2023. If you're already familiar with the basics of IoT, feel free to skip the first chapters and dive right into .

So, let's get started and discover what's in store for the IoT landscape this year.

What is the Internet of Things?

The Internet of Things (IoT) is a revolutionary technology that has changed the way we live and interact with our environment. IoT refers to the interconnectivity of physical devices and everyday objects, such as home appliances, vehicles, and even wearable devices, through the internet.

The concept of connecting everyday objects to the internet dates back to the 1980s, but it wasn't until the late 1990s that the term "Internet of Things" was first coined. The idea behind IoT was to create a network of connected devices that could communicate with each other and with people, providing valuable insights and increasing efficiency in our daily lives.

These connected devices are embedded with electronics, software, sensors, and other technologies that allow them to collect and exchange data. The result is a network of devices that can communicate with one another or to a server where data is used to provide insight and help desision making processes.

For example, imagine a smart agriculture system that can monitor and control various aspects of crop growth and management. With IoT sensors placed in the fields, farmers can gather data on soil moisture levels, temperature, and other factors that impact crop growth. This information can then be analysed to optimize irrigation and fertilization, leading to increased crop yields and improved farming efficiency.

What sectors does the IoT apply to?

Agriculture is just one of the sectors that IoT is disrupting.

In fact, IoT has many other applications in different industries such as healthcare, transportation, manufacturing, retail, energy, and smart homes, and more. Overall, IoT has the potential to greatly improve our daily lives and transform the way we live and work.

Main benefits provided are:

  • Improved decision-making: IoT provides real-time data and insights that can inform and improve decision-making in various industries.
  • Increased efficiency: IoT devices and sensors can automate various processes, leading to increased efficiency and productivity.
  • Enhanced customer experiences: IoT technology is used to enhance customer experiences in industries such as retail and healthcare through personalized services and improved accessibility.
  • Cost savings: IoT can lead to cost savings in various industries by reducing waste and optimizing resources.
  • Improved safety: IoT technology can be used to improve safety in industries such as transportation and energy through the use of connected devices and sensors.

These are just a few examples of the benefits of IoT, and its impact will only increase as it becomes more integrated into our lives.

The possibilities are limitless and to me, it's clear that IoT will play a significant role in shaping our future.

IoT Evolution

The rapid advancement of IoT technologies such as sensors, connectivity devices, transmission protocols, and hardware has made IoT more accessible and widespread. Miniaturized and low-cost sensors, standardized communication protocols, long-range low-power technologies, satellite connectivity, a variety of different network topologies that better fit different use cases, as well as the deployment of both private and public IoT networks have made IoT more accessible, scalable and reliable.

The integration of Artificial Intellicence (AI) and Machine Learning (ML) into IoT devices and platforms has added more intelligence to these systems.

These advancements have made it easier and more affordable for a wider range of devices to be connected to the internet, contributing to the growth of the IoT market.

In 2020 the number of connected IoT devices exceeded the number of non-IoT connected devices to the internet, for the first time ever. A symbolic event that, in my opinion, marks the beginning of the Golden Age of IoT.

IoT in 2022: Overview

The global COVID-19 health crisis in 2020 and the socio-political crisis produced by the conflict between Russia and Ukraine have had profound and long-lasting negative effects on the global economy. Certain sectors have been particularly affected and, as one might imagine, the IoT was no exception.

In the case of IoT, however, the above named crises have had a double effect and impacting it negatively and positively. On the one hand, the uncertainty generated by the crises, the chip shortage (not resolved yet) and, more recently, the rising cost of energy (and the consequent reduction of resources for innovation and digital transformation) has held back its growth, which, since 2022, has been lower than expected.

On the other hand, the global situation has made it extremely clear to everyone that the Internet of Things is capable of mitigating the negative effects and responding to the new needs that have emerged from the crisis. This resulted in a high demand for IoT solutions.

In this non-positive international context, the sector ended 2022 with a plus sign. As reported by IoT Analytics, the number of connected IoT devices grew to approximately 14.4 billion, with roughly $202 billion in IoT enterprise spending. Forecasts show further optimism. According to Fortune Business Insights, the global IoT market is expected to grow from $478.36 billion in 2022 to $2,465.26 billion by 2029, at a compound annual growth rate (CAGR) of 26.4% in the forecast period.

After a slowdown in recent years, the #IoT has returned to growth at a fast pace and is expected to grow from $478.36 billion in 2022 to $2,465.26 billion by 2029, at a CAGR of 26.4%, according to @FBInsightPvtLtd
click to tweet.

It’s interesting to notice that IoT penetration is also very high. Already in 2020, one-third of companies are exploring this area and investigating potential benefits. Many of those projects are now moving from a PoC phase to a production phase and, in the course of 2023, to one of wide deployment. Some verticals are becoming relevant and more large companies understand the need to invest in IoT (this is what I define IoT mindset).
Mckinsey estimates the overall impact is estimated to reach $12.5 trillion globally by 2030.

Looking at the LPWAN (Low-Power Wide Area Network) market that concerns us more closely, we can provide very positive data. The market size in 2022 surpassed $5 billion according to Global Market Insights that estimates that it will reach $350 billion by 2030 with an impressive CAGR of 50%. As high as this number is, it is not surprising, as the LPWAN market has been growing at a much higher rate than the entire IoT market in recent years. From our privileged vantage point, we have also been able to first-hand experience the growth of the market and, fortunately, of our own business. As we reported in more detail in our 2022 review, last year we celebrated an extraordinary year with the closing of a series A investment round and the launch of version 8 of our Network Management System featuring a hybrid multi-collector approach (LoRaWAN® + mioty®) for the first time.

The TOP 10 IoT trends

Now that we have established a clear picture on the state of IoT, let's get down to the point.

The 10 trends gathered in this list were identified by experts, practitioners and industry leaders with whom we had the opportunity to exchange views and visions of the future of the IoT and by looking at the major venture capital operations that have affected the IoT sector over the past year as well as the movements of the industry giants that always act as a market litmus test.

Let’s get started!

  • 10 relevant IoT trends in 2023
  • Artificial Intelligence
  • Edge Computing
  • 5G Connectivity
  • Massive IoT
  • Industrial Internet of Things
  • Healthcare
  • Supply Chain
  • Smart Cities & Utilities
  • Environment & Sustainability
  • Security

Tech trends

From a strictly technological point of view we have identified 4 main trends:

  • Artificial Intelligence (AI).
    Artificial intelligence has just entered a new phase. The technology is now mature and its disruptive potential is enormous. Just like IoT, the fields of application are countless, so AI and IoT are natural allies capable of solving the most complex problems with a new simplicity. Soon, and this is certainly a trend that will greatly develop for years to come, we will see AIoT solutions thriving where a huge amount of data from connected objects will be collected, processed and enriched by artificial intelligence able to improve processes as well as the digital experience.
  • Edge Computing.
    The IoT devices' lower cost and, on the other hand, their higher computational capacity, enable them to process data collected at the edge (on the device itself, prior to passing the data over), which results in faster processing and significant bandwidth savings preventing network congestion and simplifying high-density deployments. Additionally, it frequently ensures greater compliance with privacy regulations. This trend, which started at the beginning of this decade already, is far from slowing down.
  • 5G Connectivity.
    5G, as an IoT connectivity stack, is finally growing and we expect it to gain significant market share in the coming years, especially as a replacement for other cellular technologies, starting in 2023. In contrast to low power technologies, 5G offers broad bandwidth for use cases that need to transmit large amounts of data at very low latency (e.g. mobility solutions, autonomous driving and healthcare). We look forward to seeing this new class of services widely deployed.
  • Massive IoT.
    Massive IoT refers to the large-scale deployment and interconnectivity of IoT devices, sensors, and systems. The number of IoT devices grows and so does their density. On top of that, new applications and use cases emerge as well. The advancements in areas such as 5G networks, edge computing, artificial intelligence, and low-power wide-area networks (the rise of the new mioty protocol is worth mentioning here) have made it possible for massive IoT to be a reality. In fact, these technologies enable IoT devices to communicate and exchange data more efficiently, effectively and at a larger scale. In 2023, we can expect to see continued growth and innovation in this space, driving new business opportunities and transforming industries.

Vertical trends

Which sectors will see an IoT explosion in 2023, according to experts?

  • Industrial Internet of Things (IIoT)
    Some have already started talking about the fifth industrial revolution or Industry 5.0. Beyond the buzzwords, the Industrial Internet of Things (IIoT) is now an established and growing reality. Process optimisation, cost reduction, predictive maintenance and preservation of process integrity and business continuity remain the main drivers in the deployment of IoT solutions in the various sectors of industry. IIoT guarantees an extremely fast ROI (on average less than 2 years) and protects against the enormous financial damage that would be caused by having to stop production due to a fault.
  • Healthcare - Internet of Medical Things (IoMT).
    The healthcare sector, including both home health solutions and medical facilities, has seen significant growth as a result of the COVID-19 pandemic. This growth has been driven by increased investment in research, leading to the creation of innovative solutions and technologies to improve patient care. The advancements in medical technology aim to improve patient outcomes, streamline processes for healthcare providers, and enhance the overall delivery of healthcare. These innovations range from smart devices for chronic disease monitoring, post-operative monitoring, early warning systems, smart tricorders, wearable technology, and medical diagnostic tools, to the integration of technology in hospital rooms.
  • Supply Chain.
    Looking at the IoT landscape, the supply chain sector increased its growth rate (nearly doubling it) in 2021 and 2022 and will continue to grow in 2023 onwards. The main applications in this area are asset tracking / monitoring solutions that enable the monitoring and optimisation of logistics processes, and digital twins that, by measuring essential process metrics, allow different situations to be simulated in order to plan and optimise every component of the chain. To these are added solutions that make use of AI and robotics, with their enormous innovation potential.
  • Smart Cities & Utilities.
    About 60% of the world's population lives in cities, making it a prime location for the implementation of IoT solutions. These solutions can have a significant and threefold impact on society, the environment, and the economy. The four technical trends discussed earlier can also be widely applied in urban settings, in cities where existing solutions will give way to completely new ones. Additionally, smart utilities are also becoming increasingly important in cities and will be a growth driver for the sector. The aim is to optimize energy usage, improve resource allocation, and reduce waste, thus contributing to the overall sustainability and efficiency of urban environments.

Cross-industry trends

To the previous 8 trends, we add 2 more (we said there were 10, didn't we?).
These are two trends common to the technologies and sectors highlighted above.

  • Environment and Sustainability.
    Climate change and the resulting issues are nothing new in 2023. Consciences and political agendas are already awakened to this issue. The topic is also central for companies, from small ones to large corporations, and is an integral part of their growth and digital transformation strategies. This is what we call the Triple Positive Impact of IoT. Its ability to generate value from an economic and productive, social, and environmental perspective. Today, these three elements are taken into account right from the design phase and often also factored into the return on investment.

    Addressing these global challenges and preserving the planet can no longer be postponed and IoT can play a vital role. This also includes dedicated solutions for monitoring and protecting endangered animal species and their habitats, as well as disaster solutions (floods, fires, avalanches) prevention and management.
  • Security.
    These days, cyberattacks are happening all the time. It seems like there's a new breach or hack reported every other day. The targets are the IT infrastructures of large and small companies, or even the public sector. The IoT and its strategic role will certainly be targeted by hackers and cybercriminals. Large investments are concentrated in this area and companies will increasingly demand guarantees on security aspects when embarking on new IoT projects. A chain is only as strong as its weakest link, so it is necessary for the entire IoT value chain to take these issues seriously.


In conclusion, the Internet of Things is a pervasive and growing technology trend that has already established a strong presence in the world.

Throughout this blog post, we have explored various trends and predictions based on data, our direct experience and the opinion of thought leaders. One thing is clear: IoT is here to stay and will continue to grow and evolve. The IoT mindset has become well-established, and it is evident that IoT devices and technology will play a significant role in shaping the future.

Regardless of what the future holds, the growth and development of IoT is inevitable, it will develop to its full potential as a commercial technology in the coming years, and it will continue to impact and transform our daily lives in ways we can only imagine.

Dario Maccarrone

Dario Maccarrone
Chief Marketing Officer