The Internet of Things (IoT) is preparing to transform the way we live, from work to entertainment to transportation.
And as the IoT creeps toward mass adoption, a handful of trends have started to emerge with the space. AppCarouselrecently attended IoT World in Santa Clara, California and the Internet of Things Summit in London.
From those conferences, AppCarousel came away with 10 of the hottest trends within the space.
- Security is key. As more and more devices become connected, the security of those devices, as well as their networks and data, will be of paramount importance for companies within the industry.
- The sale is not the end. Each category of the IoT is pushing to get devices onto the market, but manufacturers are focusing on the services that prop up those devices to enhance their businesses. To do this, they are developing ecosystems and service delivery platforms in order to get more mileage out of the devices beyond the sale.
- Everything as a service. AppCarousel believes devices will become a means to an end and will actually be secondary to the services they offer. For every piece of hardware (cars, wearables, etc.), a company is trying to come up with a way to transform it into a service.
- Companies want developers on their platform. Many of the presenters at the conferences pointed to their open APIs to try to lure developers.
- The IoT is fragmented and proprietary. This creates an opportunity for companies such as Kii, Xively, SeeControl, and ThingWorx, which are trying to rectify this situation.
- There are behemoths that conquer every aspect of the IoT. Many companies specialize in one subsection of the IoT, such as smart home or connected cars. But some titans (such as Intel, Samsung, GE, Honeywell, and Bosch) have the resources, manpower, and legacies to get their hooks into almost every aspect of the IoT.
- Government money and grants are flowing toward smart transportation and smart cities. These are the most complicated problems to solve, but they also hold the greatest benefits for the public. Many governments are also doing this in order to secure the future of tech companies within the IoT.
- Consolidation is taking place. Nokia has acquired wearables company Withings. Under Armour is buying companies left and right. Intel Wind River purchased Arynga. AppDirect even bought AppCarousel. And acquisition in the IoT should continue through the remainder of 2016.
- IoT companies need places to show off their products. App stores, marketplaces, and catalogs are the current favorites and should fill up with more devices as companies ramp up production.
- Data will be king. The IoT is already generating tremendous amounts of data, so now companies are trying to figure out how to monetize it.
From connected homes and connected cars to smart buildings and transportation, every aspect of our lives will be affected by the increasing ability of consumers, businesses, and governments to connect to and control everything around them.
Imagine “smart mirrors” that allow you to digitally try on clothes. Assembly line sensors that can detect even the smallest decrease in efficiency and determine when crucial equipment needs to be repaired or replaced. GPS-guided agricultural equipment that can plant, fertilize, and harvest crops. Fitness trackers that allow users to transmit data to their doctors.
It’s not science fiction. This “next Industrial Revolution” is happening as we speak. It’s so big that it could mean new revenue streams for your company and new opportunities for you. The only question is: Are you fully up to speed on the IoT?
After months of researching and reporting this exploding trend, John Greenough and Jonathan Camhi of BI Intelligence have put together an essential report on the IoT that explains the exciting present and the fascinating future of the Internet of Things. It covers how the IoT is being implemented today, where the new sources of opportunity will be tomorrow and how 16 separate sectors of the economy will be transformed over the next 20 years.
The report gives a thorough outlook on the future of the Internet of Things, including the following big picture insights:
- IoT devices connected to the Internet will more than triple by 2020, from 10 billion to 34 billion. IoT devices will account for 24 billion, while traditional computing devices (e.g. smartphones, tablets, smartwatches, etc.) will comprise 10 billion.
- Nearly $6 trillion will be spent on IoT solutions over the next five years.
- Businesses will be the top adopter of IoT solutions because they will use IoT to 1) lower operating costs; 2) increase productivity; and 3) expand to new markets or develop new product offerings.
- Governments will be the second-largest adopters, while consumers will be the group least transformed by the IoT.
And when you dig deep into the report, you’ll get the whole story in a clear, no-nonsense presentation:
- The complex infrastructure of the Internet of Things distilled into a single ecosystem
- The most comprehensive breakdown of the benefits and drawbacks of mesh (e.g. ZigBee, Z-Wave, etc.), cellular (e.g. 3G/4G, Sigfox, etc.), and internet (e.g. Wi-Fi, Ethernet, etc.) networks
- The important role analytics systems, including edge analytics, cloud analytics, will play in making the most of IoT investments
- The sizable security challenges presented by the IoT and how they can be overcome
- The four powerful forces driving IoT innovation, plus the four difficult market barriers to IoT adoption
- Complete analysis of the likely future investment in the critical IoT infrastructure: connectivity, security, data storage, system integration, device hardware, and application development
- In-depth analysis of how the IoT ecosystem will change and disrupt 16 different industries
Source : Business Insider