Internet of things (IoT) is one of the fastest growing technologies of modern times. Furthermore, it keeps opening new areas of possibilities and innovation that was unimaginable a decade ago.
Development and Increase of IoT Devices
The continuous development of IoT has made it possible for almost everything to be connected to the internet. Currently, devices, infrastructure, and appliances can easily be controlled from anywhere with the use of an electronic device.
Already, there are more connected things in the world than people! Research findings have shown that the use of IoT devices went up by 31%, with 8.4 billion IoT devices in use in 2017. By 2020, that number will reach 20.4 billion. Additionally, it’s predicted that total spending on IoT endpoints and services will hit almost $5 trillion in 2020, with most of the devices in China, America, and Western Europe. More than half of these devices will be consumer products. To be precise, smart TVs, speakers with commercial security cameras, and smart electric meters will be the most-used enterprise devices.
Top Predicted IoT Trends for 2019
Microsoft, leader of the Forrester’s Industrial IoT Software Platforms, recently announced a 4–year investment plan of $5 billion in IoT technology. Moreover, their goal is to drive business and world transformation using connected solutions. Recently, this was revealed by the tech giant on its blog’s top IoT stories, and drove excitement and interest in IoT for 2018. In addition, Microsoft gave some IoT technology predictions for 2019.
Smart spaces are used for home, office, and building automation by using IoT and AI technologies. Typically, the smart-spaces-based projects are focused on the operational factors of building management, like power usage, water and infrastructure maintenance.
More people now explore smart spaces with the aim of understanding its potential in influencing day-to-day productivity and causing an increase in positive interactions. They are looking to expand smart spaces beyond just buildings, to schools, stadiums, banks, hospitals, and other places.
Microsoft has also provided Azure Sphere and Digital Twins to help its customers and partners in further exploration. These solutions work in real time, and assist users to manage and improve the built environment. This is one area the experts at Charter Global specialize in.
Edge computing is a new trend that is driving the IoT concept further. To clarify, it does this by reducing IoT solution costs, lowering latency, improving security, increasing reliability, and making the devices interoperable with traditional devices.
With Edge computing, dynamic communication can now be possible between devices, among several other things. IT teams in companies and organizations are using this technology to make IoT a reality, in order to address infrastructure and security issues. Consequently, this will improve greatly in 2019.
Open Standards and Interoperability
Enterprises have seen the need for interoperability and have been looking for comprehensive solutions that can connect IoT devices with traditional equipment. Most of all, manufacturers have been using open standards to make machines interoperate openly, while at the same time, maintaining security standards.
IoT and Digital Transformation
IoT today is contributing immensely to digital transformation. So, as new ecosystems and solutions are rising up under the IoT space, with the potential of unifying data and insights, new possibilities are enabled.
This is our passion here at Charter Global; we closely study the trends of newer technologies in IoT. Newer solutions that address the challenges in IoT will aim for providing real-time performance, better connectivity, and security.