The Internet of Things (IoT) is one of the fastest growing areas in the tech world.
World-leading analyst firm Gartner predicts the number of connected devices will reach 8.4 billion by the end of 2017 and is set to exceed 20 billion by 2020.
The proliferation of IoT technology has given rise to a number of home automation companies across the globe who promise to give consumers control over all their devices.
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What is likely to happen to IoT in 2018?
1. New European guidelines will enable the commercialising of IoT data
The European Commission is set to create a huge market for data in the next 12 months when it issues guidelines aimed at encouraging the shared use of data from all devices.
2. Marketers will become more aware of the huge opportunities IoT brings
The growing influx and adoption of intelligent agents such as Google Assistant or Amazon Alexa will open up new ways of marketers being able to interact with newand existing customers. Examples include new interfaces within smart home speakers or smartwatches.
3. IoT will suffer from broader and more damaging cyber attacks
Despite the growing awareness around IoT security, a number of other criteria (i.e. customer demand, cost, etc.) are still taking precedence over security requirements. This means we are likely to see more IoT attacks on devices as well as on the data held in the cloud.
4. Blockchain-based IoT adoption will rise
Despite it not yet being ready for mass deployment, IoT and blockchain technologies and their products are likely to drive blockchain adoption significantly.
5. Key use cases will drive the deployment of ‘edge’ solutions
A significant momentum will be seen in 2018 amongst firms deploying business processes that require local data analysis near to the connected devices themselves. They can use this local ‘edge’ whilst also using the cloud for security, deployment, configuration, and management.
6. Bespoke IoT platform offerings will become more common
Product designers who build IoT into products require capabilities to allow remote management, control, and monitoring. Organisations need software that integrates all their specific IoT-enabled assets into one process as they don’t have the resources to manually manage these.