What a year for technology! People are experimenting on the map of IOT (Internet of Things). We have seen almost every industry had invested in the IOT. I.e. Consumer products, Automobile, Warbles, and all electronics are becoming a huge part of our market. IDC examined that world’s data load will be increased by 10 times from 2016 to 2020, that will affect the GDP of the country.
This is the reason that IOT will be driving transformation for 2018. IOT is the buzzword of the moment and Prospective IOT projections state that it is gearing up to usher in “market effectiveness”. Also, aiding organizations is in making constructive choices on the basis of future prediction for where to place their investment.
As IOT has is a more active and the largest project for projects. There is still quite some work for both suppliers and organizations in reality. It serves two distinct user groups – businesses and individuals. It is classified into nine segments as follows:
– Use-cases for businesses:
1) Industrial IOT
3) Smart Utilities & Energy,
5) Smart City
– Use-cases for end-customer’s:
1) Connected Homes
4) Personal Health
The technologies predicted to make big news in the coming year is included IOT, AI, Blockchain and edge, this all technologies are collecting the data analyse and store the information. This technology will continue to develop the higher rates of products and solutions dominate market attention. But, do you know what is the actually big things that driving this year ahead?
• Areas where IOT worked as big thing:
o Warblers are highly adopted IOT technology among users.
o An increase in the level of infrastructure help Commuters currently use an IOT to route around congested traffic, using intelligence to interpret data to get from point A to point B.
o Schools are also one of the area were, learning experience is enhanced by the IOT for students.
o By using IOT retail stores can gather the customer behaviour pattern and generate the sale according to it. In
Retail stores IOT can help to attract more customer and make a use of higher Technology.
o An impact on their home life can be like adapting to the external temperatures, to their lights reacting to them entering the room, to their alarm clocks synching to traffic etc.
IOT can use anywhere in our way to revolutionary ideas and technology. There is a lot of products and scopes can be adopted by the people to grow more. So as this year is huge for the IOT some facts are associated with it. So, let’s dig more into details.
Top 5 Facts of IOT:
1. Big players have already used this Tech
– IBM – $200 million in the new global headquarters in Munich for Artificial Intelligence, IOT, Blockchain, and Security.
– Microsoft has also announced the IOT by taking involvement in huge, providing platforms as a service (PaaS) for IOT, particularly for connecting vehicles.
– Cisco- $1.4 billion for IOT platform vendor Jasper Technologies in February 2016.
– Hitachi- Reported 33 IOT-specific solutions generated $5.4 billion in revenues in 2015.
– Morgan Stanley via BI predicted that we will be surrounded by more than 75 billion it devices by 2020 which roughly means 7 devices per person alive at that time.
2. IOT is Running from Decades
The first time the network of smart devices was deliberated as early as 1982, with a modified Coke machine at Carnegie Mellon University. It was becoming the first Internet-connected appliance in the world of IOT.
Also, if we talk about the innovator of IOT that is Kevin Ashton. He is a Consumer sensor expert who coined the phrase “the Internet of Things”. His intention is to describe the network connecting objects in the physical world to the Internet.
As the future of IOT relies totally on the success of the mobile technology and infrastructure and in the 21st century, we have access to all tech we can imagine.
3. Promising ROI
It is true that today’s man business is feel hesitate to use this technology for their business. But, the cost of taking action against the risk of doing nothing at all deployment approach finding nothing but the good amount of ROI on their investments. Around 94% businesses who adopted IOT in some way have seen a return on their investment for their business.
4. $60 Trillion Investments
GE (General Electric) is one of the enormous name in the world. The company is using the IOT for years in building its jet engine technology. So, they claimed investment in the IOT (IIOT) would hit $60 trillion over the span of next 15 years.
5. The dark side of IOT
A study conducted by HP on, Internet of Things Security: State of the Union, says that 70 percent of its devices are vulnerable to attack. In recent times ransomware attacks have targeted healthcare IT systems successfully. The world of Its taken a huge mark on that attack.
As the rise of IOT devices, taking the step ahead the security breaches are becoming a thing of concern as well. On the data compromise, nearly half of the US reported the complaint against this.
A strategy consulting group Altman Vilandrie & Company scrutinize about 400 IT decision makers across 19 industries. The result shows the huge data breach because of the IOT.
At the End Future is unfolded and unpredictable:
The future is exiting with IOT. Everything is connected, and we can experience the bigger and better life style. But, how to use this technology is totally depend on us. In this era of endless innovation, you can be 100% assured that it will look different from today in the future.