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IoT (Internet of Things) Solutions: Perspectives and Forecasts

 

IoT (Internet of Things) is no longer just a buzzword. This notion is becoming a new trend in app development industry! Developers believe that IoT will turn into the next Industrial Revolution and will change the way people interact with physical world. Globally, people clearly see its perspectives and market opportunities it offers.

IoT has been grown tremendously during the last two years. Nowadays, the IoT ecosystem allows governments, businesses, and customers to control and to connect their devices in 16 spheres of life, for example, connected car and smart homes. IoT was recognized by such spheres as logistics, healthcare, manufacturing and others. In 2015, many companies invested in IoT and are getting benefits in 2016.

Internet of Things exists like a perfect ecosystem. BI Intelligence offers the scheme how this IoT ecosystem operates:

Perspectives of the IoT ecosystem for 2016 are:

 $6 trillion will be spent on the IoT during the next five years;

 IoT services will play the main role in IoT development;

 30% increase in using IoT devices in 2016;

 Governments will be able to improve life of their citizens, increase productivity cut down costs with the help of IoT;

 Consumers will tail away the government in the adoption of IoT solutions. Nevertheless, they will invest enormous amounts of money in IoT ecosystems;

 $34 billion devices will be connected to the Internet by 2020, as compared to 10 billion in 2015. Furthermore, the IoT devices will comprise 24 billion and traditional devices (tablets, smartphones) will amount only 10 billion.

 Businesses will take all advantages of IoT. They will adopt three ways to do that: the first one is to increase productivity; the second one is to lower the costs and the third one is to expand to new markets and introduce new offerings.

 6 layers are predicted to get investment in IoT: System integration; Security; Device hardware; Connectivity; Data storage; Application development.

The predictions from Forrester are the following:

During the last years, IoT has become the most lucrative opportunity for enterprises. Only IBM invested over $3 billion in its IoT inventions. AT&T invested $1 million only in IoT connected cars. Samsung is going to connect everything it sells by 2020.

So, what will be the IoT predictions for 2016?

1. Security

In 2015, we witnessed the tremendous growth of connected devices. And in 2016, this tendency will be on the rise. Security of IoT connected devices will take the central place. Who will benefit the most from it? Of course, solution providers who will offer not only connected services but also reliable security for them.

2. Service – Not Things

The focus of IoT is not only on ‘things’, but the main part is assigned to services – premium and of the best quality. IDC plans to have 22 billion of things installed by 2018. And this will cause the development of more than 200 thousand of new IoT services and applications.

3. Real boost of the IoT connected cars

There are 1 million connected vehicles on the road in the United States. In 2016, we will see that this trend grows greatly. GM is working hard to make this tendency develop – every car produced by them has 4G-LTE marking. In the nearest future, that will be a norm for every produced car in the world to be IoT connected.

4. LPWAN (Low-power wireless area network) will decline

In 2015, LPWAN was not ready to turn into the mainstream and we did not see its wide deployment. Meanwhile, 2016 may become the year when LPWAN will gain new partnership, open new marketing horizons and find its beneficial ways of development.

5. Florescence of IoT market

2015 became the year when IoT technologies went through their hype cycle and turned into the mainstream. On the wave of this success, many technology providers used IoT acronym in their names to make benefit of the situation. The result is that savvy businesses have to face all demands providing IoT solutions according to their sphere of activity – analytics, management, application enablement. Now their main task is to demonstrate how they can help enterprises to launch, organize and produce a profit with the help of IoT technologies. Under the IoT successful development, new business models emerged and the old ones were transformed into more lucrative versions. We may see how it works in practice:

Smart factories move into top gear

In other words, manufacturers have all chances to be those who will benefit from IoT the most, as consulting company McKinsey and Company predicts. No wonder that factories became the first to adopt the Internet of Things. Their success can be explained by savings of energy, optimization of production, worker health improvement conditions and labor safety. As the example, we may take Stanley Black and Decker company. It is a traditional manufacturing organization that used IoT innovations to improve its production line and labor efficiency. To understand the production process, they used routers with WiFi. Every material was marked to inform the workers about its status and place in real time. So, the production line was transformed into a perfect system. As a result, their effectiveness increased to 24%.

Logistics seems to become more efficient

The logistic industry was also smart enough to adopt IoT technologies. The best player in this sphere is The Port of Hamburg. It is the second largest port in Europe. The daily flow is approximately 40,000 of trucks. The task was to find the perfect solution to handling all freight having limited space. And the only one way out was to adopt new technologies. Together with SAP and Deutsche Telekom, the port authority developed a project and called it Smart Port Logistics. With the help of it, became possible to connect people, trucks, ships and every component in the port through mobile business Cloud and perform all operations inside. Thus, they economized 5,000 hours spent by trucks in the harbor; drivers could reach their destinations faster. These are the advantages of connected people, machines, and industries.

Absolutely New Business Models Appear

The Internet of Things opens new horizons for existing industries, but it also boosts the formation of new business models.

Semios company has found the way to face the rising demands with the help of IoT innovations. It offers orchard services to farmers in order to get fruit crops of the highest value. Before the innovations were introduced, growers had to hire inspectors to check the pests every two weeks. Now, after Semios connected pest management system, farmers are able to lower the labor costs and automate their pest checking system. Thus, they have the timely data and accurate analysis daily instead of bi-weekly.

Wearable Technologies Guard Our Health

Wearable devices have become extremely popular after Apple released the Apple

Watch. The huge potential of this health care technology made wearables be in the public eye.

Today, the most popular wearables are fitness trackers. The example is Swiss company Roche and its invention Accu-Chek View. They enabled the wearable device to connect with medical professional in order to monitor the health aspects. This device consists of the fitness tracker, blood glucose monitor, and a mobile app. Doctor uses

Cloud to spot every change in the organism of the device owner. This tool is one more proof that the Internet of Things can improve our lives and health.

At the conclusion, we may say that IoT offers great benefits and opportunities for those who are savvy enough to take advantage of them. With the help of IoT technologies, people can improve their health, life conditions, and business routine.

Business owners have the unique chance to generate their infrastructure with IoT innovations to make their organizations work smarter and faster. 2015 has already showed us what perspectives the Internet of Things has. And 2016 is predicted to involve great investments in IoT industry and everyone can join the team of winners.

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