How Next-Gen, Connected Products Are Changing The World?

The emergence of wireless technologies, broadband Internet, and smart products, along with increased smartphone penetration, is fostering a conducive environment for next-gen connected products. These products are reshaping communication dynamics and providing valuable insights into consumer behavior through IoT data. Integrating high-end connected technology into product lifecycle management (PLM) solutions enhances visibility and traceability throughout the product lifecycle, driving efficiency and innovation. The global PLM market is poised for significant growth, fueled by the evolving hyper-connected environment.

Manufacturers without a formal PLM framework risk being left behind as disruptive technologies reshape product innovation and development. The integration of connected PLM enables seamless data integration, providing stakeholders with enhanced visibility into product development processes. This transformation allows for efficient configuration of similar products with multiple variations, necessitating the establishment of a new technology infrastructure comprising various layers such as hardware, software, connectivity, security tools, and integration with enterprise systems.

Connected products offer unprecedented capabilities, including self-monitoring and reporting, user-controlled operations, optimization through algorithms, and autonomy. These capabilities are enabled by a technology stack comprising mechanical, electrical, and digital components, as well as connectivity, software updates, and remote control features. Products can evolve over time through software updates, providing continuous improvements and turning hardware into a platform for delivering services.

IoT facilitates the development of smart, connected products by integrating mechanical, electrical, and digital components with connectivity and software. Internet-connected devices can receive software updates, enabling them to improve over time and deliver enhanced services to consumers. This shift towards product-as-a-service models reflects consumers' expectations of continuous improvement and customization. Connectivity will drive significant growth in internet traffic and data consumption, enabling businesses to leverage enhanced broadband, LPWANs, ultra-low latency, and strong security for mission-critical applications and infrastructure systems.

The future will see widespread adoption of connected devices for various applications, including health monitoring, home security, pollution detection, and transportation optimization. Privacy and data sharing concerns will rise with the proliferation of connected devices, necessitating the implementation of standards, encryption, and data laws to ensure safe and secure connectivity. Despite the potential hazards, the connected future holds promise for innovative deployments and transformative advancements, ushering in a new era of connectivity-driven innovation.