5 IoT trends that 2018 will bring
December 15, 2017
During the past couple of years, the Internet of Things (IoT) has spread quickly across the globe. Each day, more and more people are getting connected, and IoT devices are opening new opportunities for individuals as well as businesses. According to forecasts, the global IoT market will grow from 157 billion in 2016 to approximately 250 billion in 2018. With the fast-paced development of the IoT world, it can be difficult to navigate through it and keep track of the most prominent trends. Based on our long-term experience in the IoT industry, we have gathered 5 IoT trends that we believe will define 2018.
1. The number of connected devices will expand worldwide
The year 2017 has proved that the world of IoT continues to spread far and wide. In 2018, even more connected devices will be deployed worldwide. Statistics show that the number of connected devices will exceed 23 billion in 2018. With the increase in the number of connected devices, more ways of using the IoT will become a reality. The possibilities opened by IoT devices will spread across industries, and the advantages of being connected will become available to more and more people.
2. The road from IoT ideas to deployment of solutions will become even shorter
The continuous growth in the number of deployed devices has brought an increase in the maturity level of the IoT technology. This means that instead of mainly pilots being rolled out, more and more real-life IoT solutions have been deployed the past years. For businesses wanting to enter the world of IoT, the main consequence is that the road from getting an idea to actually having a deployment-ready solution with a high ROI is now shorter. In the years to come, it will be easier and easier for businesses to realize their IoT vision without spending a vast amount of resources. Predictions even indicate that 65% of companies will adopt IoT devices in the next couple of years compared to 30% today.
3. Data, data, and more data will be created
With the increase in the number of devices that constantly gather and share information, the volume of created data is growing exponentially. Actually, the amount of data created worldwide is doubled every two years. In this sense, the production of data keeps reaching new heights, and it is not slowing down. This means that in the year to come the increasing datafication of our world will continue.
4. The focus on security will increase
As more and more IoT devices become embedded in our world and everyday life, concerns about security will inevitably increase. It is more important now than ever to ensure that the data transferred between the connected devices are kept safe. IoT security has previously been downplayed, but the past year has shown that the security awareness is growing. In 2018, security will be an issue of high concern.
5. Interoperability will become a key factor
With the growing amount of IoT devices being deployed, connectivity between people and things is established in more and more ways. With regards to the connectivity, it is highly important that it is implemented across different devices and platforms. In this sense, interoperability is crucial to the IoT world. In 2018, stand-alone solutions will face great competition from open platforms, capable of creating a connection regardless of the product or manufacturer.
The 5 trends point towards one direction; the IoT is not only here to stay - it is growing to new heights in the future. At Develco Products, we are pleased to experience an increasing interest in our IoT hardware platform and the possibilities that the white label concept bring to our customers. In the year to come, we look forward to helping our customers move from IoT ideas to ready-to-launch solutions fast and easy.