The Internet of Things (IoT) is beyond the buzzword. The technology is already in use in the US markets and other parts of the world. It is the norm of any new technology that the business community is the early adopter before it spreads to the consumer segment.
According to the latest stats, IoT will reach around 70 billion devices by the end of 2025. A survey estimates that there are 20 billion connected devices globally this year, which is expected to increase in the future. If you want to know the five trends in IOT that have dominated 2018, keep reading this blog post.
In recent times, lots of businesses have relied considerably on the internet of things (IoT). IoT is undoubtedly making an impact across industries that include; Healthcare, Manufacturing or Retail, Beauty, transport services and a lot more. With challenges and barriers to adoption, 2018 has been a year of consolidation for IoT. Based on a large number of interactions with end clients across sectors, business and technology partners across the ecosystem, we have collected some of the trends that have dominated in 2018.
1. IoT for Enterprises:
Until now, many of the IoT initiatives within organizations remained popular, and the trend is still increasing. In the coming year, we believe that IoT platforms and IoT initiatives will go increasingly mainstream, and get the required focus and budget allotment within the organizations.
In the previous years, various companies have got the assurance that IoT platforms have the potential to bring about operational improvements within a business. As many organizations have already adopted that path and validated the ideas, large number of organizations are turning to engage with the leading technology system integrators to develop and deploy IoT solutions.
Now that IoT platform deployments are being predicted regarding the increase in scale and scope, now the prime focus of IOT includes; data privacy, ownership of data, and contingent liabilities. The solutions for resolving these issues would increasingly decide the success of the IoT programs.
The year, 2018 showed the growth regarding trends in IoT. Furthermore, companies worked on potential data breaches and security issues for ultimate security using IoT. Now, lots of companies invest in IoT to boost their business.
IoT security solutions are available for the technology adopters, especially, the firms are taking the initial steps regarding the selection of gateways and protocols to use communication mechanism.
3. Key Technologies Will Spur Adoption of IoT:
Technological advancements are rising, and we will continue to see the evolution of the techniques to help increase the adoption of IoT. On the whole, the technology is maturing, but we recognize that IoT systems are growing, getting the attention of the majority of tech organizations. Institutional and governmental support by standardization and agreements on legal issues will go a long way in supporting the adoption of IoT across the world.
4. The IoT Growth:
The IoT will continue to expand in the next years. Innovative devices are coming online every single day. The retail, healthcare, beauty, tutoring, Airport shuttle services, laundry, home services, and more industries will grow by adopting these latest technologies.
Research has predicted the IoT will become “the backbone” of customer value as it is overgrowing. It is by no surprise that retail is utilizing the power of the IoT to connect with customers, increase their brand awareness, and improve the customer journey in deeply personal ways. Most of the companies will use IOT in the coming years as more retail players will increase their usage of IoT to market and sell their products.
And, industries like healthcare and delivery are also adopting the new technology. They’re using the technology to connect with patients via wearable devices, and track products from factory to retail stores. In many ways, the full potential of the IoT is still being realized; we’ll likely see more of that in the years to come.
5. The IoT In the Healthcare Industry:
IoT is now giving access to patients, the best doctors and health centers for their healthcare services. Nowadays, there’s a significant trend of wearable tech to monitor the heart rate or level of stress in your body. As the technology is becoming more pervasive, it is going to revolutionize the healthcare systems across the world.
Most of the customer and businesses have got benefits from the technological advancement in the form of IoT, as it gives a platform to companies to promote their products to the target customers. The benefits of technology has lead the business owners to invest in IoT to target a wider customer base.
Considering the predictions of using the innovative technology depending on facts and figures, we can say that there’ll be a significant change in the world of digitally connected devices in the next year. As per the reports of business Intelligence, more than $5 trillion will be spent on IoT solutions in the next five years, and IoT gadgets will be developed at a rapid pace.
According to statistics, connected devices will become smarter, and expectations will increase to convert IoT data to insights and financial values. We offer solutions for businesses related to IOT for small medium enterprises as well as large corporations. Check our portfolio from the website to get the idea of our quality work. We have provided IOT related programs to a large number of companies across the globe. If you want to get reliable solutions, contact us today.