The business world has seen a huge technological revolution in the year 2015-16. We have witnessed Smart Cars, Smart Homes, AI, Machine Learning and even Robots started booming in the global market. All these innovations have given an opportunity for the physical world to integrate with computer-based programs.
According to many industry experts, Internet-of-Things (IoT) is the next industrial revolution or the next internet. Different technical experts have different definitions for IoT, but to describe it- We can say it is a huge network, which connects devices using electrical sensors and the internet. A network of interrelated objects and devices such as vehicles, work places, homes with unique identifiers that aid in transferring data over the network without relying on human efforts.
The Internet of Things (IoT) will include 26 billion units installed by 2020. By that time, IoT product and service suppliers will generate incremental revenue exceeding $300 billion, mostly in services.
Gartner Report
IoT Trends
The predictions and numbers may sound unreal, but this is where IoT is driving us in the near future. We have seen an amazing trend of IoT in 2016, it will get even better in 2017 with a greater impact. Let’s discuss some of the most defining aspects we are expecting from IoT in this year.
Automated Smart Vehicles
We all heard about self-park or self-drive vehicles with a very little human intervention. This is possible because of IoT. You must be wondering how? Depending on the technology used, a car might be connected to a Google map that lays down the directed routes to the destination and algorithms are used to estimate minimum distance.
All you need is a controlled engineering architecture to make the entire thing working. IoT is the core framework of the entire automated system. You have to input your destination in the smart car and it will do the rest. Many automobile companies are expected to build cars embedded with the 4G-LTE capacity to ensure they can stay connected everywhere. This will defiantly boost the sales for the company as well as it will take automobile industry to a different level.
Smart Manufacturing Industry
We are going to see a fundamental shift the Industrial IoT adoption. In 2016, 38% of the organizations have already started their IoT journey, and 57% are currently planning to implement.
2017 is going to be an inflection year for industrial IoT adoption. We can see a significant increase in investment in IoT by industrial organizations. In a survey, 69% of the respondent organizations plan to increase their annual IoT investment in coming one year. With the help of IoT, machines are programmed to do multiple tasks with better performance and lesser time.
Security and Privacy
The number of devices connected to the internet to share information will keep growing, and more businesses will look into launching integrated solutions. This growing number of connected devices will also increase new security concerns. We can expect many companies to emerge and offer security for these new devices, and many conversations around the content being shared. It is very important to choose the right IoT platform. Organizations are very much aware of security concerns that could come with IoT and will invest in solutions that can offer a robust security measures for devices and also cloud data.
IoT in Healthcare
The healthcare industry is one the early adopters of IoT. The reason for this trend is the revolution IoT brought to the healthcare sector. Because of IoT, the quality and effectiveness of service, added a lot of value to many patients who needs constant supervision. As per an estimation, spending on the Healthcare IoT solutions will reach a high $1 trillion by 2025 and, will introduce personalized, and on-time healthcare services for everyone. IoT is constantly introducing new tools that build an integrated healthcare system with the view of ensuring better patient care, and reduced healthcare cost.
It is an opportunity for healthcare service providers to tap into IoT solutions, even as they optimize business processes through automated workflows as well as process excellence. Many hospitals use IoT for asset management and controlling humidity and temperature within operating rooms.
Impact of IoT in Predictive Analytics
In the last couple of years, we have seen a huge growth of unstructured data generated in many industries that have been using IoT and data analytics. But, unfortunately many companies are unable to fully utilize this unstructured data, before it loses its value. Data is perishable. You need to utilize it at the right time to get deep insights. Organizations are losing business insights as they fail to follow a structured data collection technology. Decoding the data collected through IoT-enabled devices and wearables will help companies to accelerate business processes and enhance decision-making ability.
There is a need to digitalize the process to predict future. In this new digital business world, IoT feeds in data from the real world. Then AI techniques are applied to this data to help businesses to get better results. 2017 will witness an innovation of IoT analytics. We can see more and more point solutions which will drive the need for a platform. The complexity of analytics will increase, as will the resulting business value.
Impact of IoT on Augmented Reality and Virtual Reality (AR/VR)
Previously the primary focus of AR/VR was limited to gaming and entertainment app development. However, when combined with IoT services, AR and VR have got the potential to become a crucial business tool. In 2017, we might see the deployment of AR/VR in connected manufacturing. Combined IoT/VR solutions will enable factory workers to view the operational efficiency of all connected robots and equipment. Workers can predict if that machine is working fine or needs maintenance by looking at a robot.
Augmented Reality minimizes the line between our physical world and the internet. Though some write AR off as a lot of blusters and no substance, we see the combination of AR and IoT revolutionizing the way we do business.
IoT and Mobility Integration
IoT will create many new opportunities for businesses to grow in current and upcoming markets. IoT connects every single dot related to technology. The best example of IoT and Mobility integration is in home automation systems which we call “Smart Homes”. All systems inside the house like security, lighting, air conditioning and even cooking devices are intelligent, which mean they are programmed to receive instructions from the users in the house and operate accordingly. All appliances involved in these systems are interconnected through cloud-based technology to the main hub which can be controlled by an app on user’s smartphone, tablet, and wearable. Mobile connectivity and in-built sensors strengthen the IoT ecosystem creating a new world of opportunities.
What’s ahead in IoT?
IoT is the next level of automation of every object in our life. Innovation of new technologies will make IoT implementation much easier, faster and secure. This will improve many aspects of our life at home as well as at work. From kitchen to parking spaces to smart offices, IoT is adding more and more things into the digital world every day, which will likely to make IoT a multi-trillion dollar industry in coming years. 2017 is certainly going to see “IoT-as-a-Service” Technology. It will offer business solutions in the same way as SaaS, PaaS and IaaS. But to achieve these technological milestones, the business world need to overcome many obstacles and barriers to witness benefits of such technologies.
In the scale of hype to reality, can the IoT profit business owners, suppliers and end users? What are the process required to enable the IoT and widespread deployment of wireless sensor networks that are feasible and based on a RoI? Who is buying IoT in the short term? To find the answers and to know how it can transform your business by optimizing your productivity Contact Us.
As a premium IoT service provider, Apogaeis has got the expertise and technology to use it for your business to witness the magical transformation.
