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Trends That Will Be Shaping The IoT Industry in 2017

Trends That Will Be Shaping The IoT Industry in 2017

The Internet of Things refers to the huge network that connects devices (“things”) to the internet. These devices are embedded with unique identifiers which facilitate an exchange of data and information as well as the interaction between them. The technology is being adopted at a rapid pace, moving out from the realms of home automation. It is now being embraced by industries and businesses, helping them become more productive and profitable. IoT has revolutionized the way the world lives and works and it is poised to grow bigger and bigger with time. Amazingly, a recent McKinsey report has predicted that almost 50 billion “things” will become IoT-enabled by 2020. (https://www.cmo.com.au/article/617887/top-10-iot-trends-2017/)

Let’s check out the trends that will be shaping the IoT industry in 2017:

IoT Will Grow At An Unprecedented Pace: The IoT boom is unstoppable as it is going to grow at an unprecedented pace in 2017 and beyond. The reason is the plethora of benefits its adoption brings. The technology empowers organizations with value creation, cost savings, enhanced productivity, and much more.

Advancement Of Wearable Devices: IOT-based applications are powered by data and wearable devices feed this data to run them. There will be more emphasis on mobile apps for wearables for specific data picking purposes. These apps need to be empowered with features such as artificial intelligence and user analytics to yield relevant data.

Rise In Security Concerns: 2017 is seeing a rise in security concerns with the Internet of Things as these connections are susceptible to data breaches and hacking. For this reason, developers are being more careful and relying on concepts such as Blockchain to create apps that guarantee the security of devices and data.

Precedence Of Voice-Controlled Devices: Another trend that the IoT space is witnessing in 2017 is the precedence of voice-controlled devices. Most connected products are being integrated with virtual voice assistants that are changing the way these interact with humans. From turning on the lights to playing a specific music album, and locking doors, these smart assistants offer endless possibilities.

AI Is Becoming Powerful: The IoT is not a self-sufficient technology but has to be powered by other technologies. Artificial Intelligence and Machine Learning are the technologies that are making it bigger. A connected device is likely to perform better if it is able to analyze the data it collects and use it for sound decision-making. This is where AI can help by making smart use of data and creating more context with it.

Focus On Interoperability: Interoperability will be the most desirable aspect for IoT solutions as it makes the investment worthwhile. A greater number of connected devices translates into more powerful data and insights. On the other hand, lack of interoperability limits flexibility and creates fragmentation in the business ecosystem. Consequently, the organization is unable to avail complete benefits of the technology.

Smart Homes And Smart Workplaces Will Become Mainstream: This year will see smart homes and smart workplaces becoming mainstream. While manufacturers are working on creating better products, consumers are showing the willingness to embrace them. Smart lights, air-conditioning, coffeemakers, and alarms are becoming parts of homes and workplaces today.

Overall, these trends are poised to take the technology to an entirely new level. It is still in an evolutionary phase, but still changing lives for better. It can well be imagined that the adoption of the IoT will make the world a much better place to live in near future.