Five trends in IoT for 2017— and how you can profit

Syed Zaeem Hosain, chief technical officer, Aeris

The Internet of Things (IoT) will continue its phenomenal growth into 2017 and beyond, however, what does that mean for your business? The overall hype would make this seem like the gold rush days, but the reality is many companies have either failed or not achieved anticipated results.

The Google Nest is one example. That’s why it is important to understand the underlying trends driving this paradigm shift in 2017 and not become “another good idea that didn’t make it.”

According to studies by Machina Research and other research firms, the following five key trends are to watch for in 2017:

    • Rapid growth: IoT is exploding into every marketplace, and everyone from consumers to investors are demanding more. 45% of IT budgets will be dedicated to IoT by 2020, and 69% of enterprises (80% in manufacturing) intend on collecting user/customer data through smart devices vs. indirect and conventional means, says Syed Zaeem Hosain, chief technical officer, Aeris.
    • New support demands: The data overload IoT creates is putting tremendous pressure on infrastructures, and this requires all-new levels of support to ensure speed, operating status and overall reliability. And since the majority of enterprises, service providers and original equipment manufacturers (OEMs) don’t have the budgets or expertise, they are actively engaging third-party vendors for solutions.
    • Maintenance: “Things” break down, especially if they are not properly maintained. Many IoT-based companies have already gone out of business due to buggy products and/or inadequate maintenance. Even for a viable business, lack of maintenance can result in huge total cost of ownership for both end users and companies having to fulfill warranty obligations.

79% of manufacturers surveyed said predictive maintenance was their No. 1 reason for adopting IoT, and enterprises in all industries said maintenance via IoT offered the best opportunities for growth. Tesla is a prime example of this trend, as they easily (and cost effectively) remedy maintenance issues simply by pushing a software update to the affected cars.

    • Bimodal IT: It’s tempting to “start fresh” with IoT, but the fact is many traditional IT practices (as well as legacy systems depending on your company’s size) still work . . . well. The best approach is to seamlessly incorporate the old and the new. 70% of short-term IoT budgets will be spent on legacy integrations.
    • Ever-increasing mobility: This is, and forever will be, endemic to IoT. To be successful, you need to deliver wherever and whenever smart devices are needed. Otherwise you risk missing out on growth opportunities.

What’s key to turning these trends into your competitive advantage is having the right foundation. You need an IoT infrastructure that’s reliable and easy to support, can instantly scale, makes maintenance both “boring” (no surprises) and cost effective, and can seamlessly coexist with your existing operations. Once in place, such a foundation empowers you to rapidly grow in any market without any drawbacks.

The author of this blog is Syed Zaeem Hosain, chief technical officer, Aeris

Comment on this article below or via Twitter: @IoTNow_ OR @jcIoTnow

FEATURED IoT STORIES

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, iot home automation is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more
RECENT ARTICLES

Infineon and Rainforest Connection create real-time monitoring system to detect wildfires

Posted on: October 22, 2021

Munich and San Jose, California, 21 October, 2021 – Infineon Technologies AG a provider of semiconductors for mobility, energy efficiency and the IoT, announced a collaboration with Rainforest Connection (RFCx), a non-profit organisation that uses acoustic technology, Big Data and Artificial Intelligence / Machine Learning to save the rainforests and monitor biodiversity.

Read more

Infineon simplifies secure IoT device-to-cloud authentication with CIRRENT Cloud ID service

Posted on: October 21, 2021

Munich, Germany. 21 October 2021 – Infineon Technologies AG launched CIRRENT Cloud ID, a service that automates cloud certificate provisioning and IoT device-to-cloud authentication. The easy-to-use service extends the chain of trust and makes tasks easier and more secure from chip-to-cloud, while lowering companies’ total cost of ownership. Cloud ID is ideal for cloud-connected product companies

Read more