The Internet of Things, once a niche technology for startups, is now a technology that multimillion corporations are built on. IoT has already changed the way we live and 2019 promises to be a significantly transformative year.
IoT Practice experts at global technology consultancy DataArt predict that the following trends will dominate the IoT landscape in the year ahead:
Devices will become more and more powerful enabling local data processing and AI capabilities. It will reduce data transfers volumes and cloud dependencies and will provide more flexibility and agility for business. Edge computing will significantly affect those industries where immediate action is needed based on complex real-time data analysis (Manufacturing, Public Security) and where cloud connectivity may be restricted (Shipping and Logistics).
Security race heats up
A key step towards the transformation of the industry, the race will be on to develop the smartest and most secure IoT solutions. Industry experts will focus on tackling the major security concerns and vulnerabilities surrounding IoT that have thus far subdued widespread adoption.
Big players will dominate
We will see intensified competition from industry giants such as AWS, Microsoft and Google, as large IoT platforms become the norm. These big players will acquire a large portion of the market and will continue to increase their footprint as organisations flock to them for the promise of simplification at scale. While big IoT platforms battle for market share, we’ll see smaller players focus on niche areas to survive (e.g. data movement, industry-specific challenges, certain types of devices, etc.).
Smart device application will rise
Across industries, smart devices will become decisively more popular. There will be a sharp rise in smart devices in a wide range of areas including automotive, transportation, healthcare, hospitality and manufacturing solutions.
Automotive business model will shift
Data is becoming the lifeblood of the automotive industry. The automotive industry will continue to progressively adopt IoT technologies to enable vehicles to seamlessly gather and monitor data and communicate with smart city services and other vehicles. As a result, the automotive industry will shift further towards data-driven business models. We can see the shift specifically with OEMs (original equipment manufacturers) that are investing significant amounts of money in innovative startups to analyse and process data.
The era of 5G is upon us
One of the most anticipated technology trends in the industry, 5G networks will usher in a new era for IoT, supporting an increasingly interconnected world that will drive IoT innovation further. It will allow gathering, managing and analysing data almost in real-time. 5G will also significantly broaden the IoT market into areas where time and bandwidth speed are crucial – unlocking unrealised revenue and potential.
In a few years, the Internet of Things has had a profound effect on the day-to-day world we live in and the hotly anticipated rollout of 5G promises to dramatically alter the IoT world in the coming year. From reshaping how we drive to managing our cities to transforming entire industries, 2019 will be a busy year for IoT.