In­ter­net-of-Things (IoT) in 2018

It was pre­dicted that IoT will be the back­bone of fu­ture cus­tomer value and will have a tu­mul­tuous im­pact on the world as a whole, with the num­ber of con­nected de­vices set to ex­ceed 11 bil­lion.

Distinguished Magazine - - CONTENTS - KOEL CHAT­TER­JEE

As the year started most in­dus­try ex­perts pre­dicted that In­ter­net-of-Things (IoT) will have a mas­sive out­break in 2018, given the state of in­fra­struc­ture and im­pact it al­ready made. It was pre­dicted that IoT will be the back­bone of fu­ture cus­tomer value and will have a tu­mul­tuous im­pact on the world as a whole, with the num­ber of con­nected de­vices set to ex­ceed 11 bil­lion. As we come close to the end of 2018, it is safe to con­clude that the pre­dic­tions were more than true, and cur­rently the num­ber of con­nected de­vices glob­ally ex­ceeds 17 bil­lion.

As it be­comes clear from the above fig­ures, the pri­mary gamechang­ing as­pect of IoT is the sheer num­ber of con­nected de­vices world­wide, rather than the ca­pa­bil­ity of each de­vice. As a mat­ter of fact, IoT is all set to over­take smart­phones in con­sump­tion of in­ter­net traf­fic, by the end of this year. Dur­ing the first two quar­ters of this year, due to an un­ex­pected hike in the mar­ket of IoT, the num­ber of IoT-en­abled de­vices went upto 7 bil­lion, and is ex­pected ac­cel­er­ate fur­ther. And while this stag­ger­ing statis­tic far ex­ceeded the rev­enue tar­gets of IoT soft­ware, cloud and ser­vices com­pa­nies, it mostly con­sists of in­dus­try ap­pli­ca­tions, and not in­di­vid­ual or house­hold de­vices. A sig­nif­i­cant ac­cel­er­a­tion in the ap­pli­ca­tion of IoT in the large scale busi­ness projects meant smart en­ergy, smart fac­to­ries, smart cities, a con­nected world where com­mu­ni­ca­tion flows from ma­chine to ma­chine, and a sig­nif­i­cantly im­proved health­care sys­tem. Although most of these or­ga­ni­za­tions have only just started out their course from plan­ning to ac­tual de­ploy­ment, there is a clear shift from the num­ber of con­nected de­vices towards this broader vi­sion in which busi­ness goals, peo­ple and value are the main con­cern.

When the in­dus­try trends and mar­ket stud­ies of the state of IoT In­tel­li­gence in 2018 are ob­served, it can be safely said that the most ac­tive early adopters of IoT In­tel­li­gence are sales, mar­ket­ing and op­er­a­tions sec­tors. The in­dus­tries which are view­ing IoT as the most crit­i­cal up­grade in their op­er­a­tions are man­u­fac­tur­ing, in­surance, fi­nan­cial ser­vices, health­care and tech­nol­ogy. In the year of 2018, we wit­nessed a surge in the IoT mar­kets with nu­mer­ous new ini­tia­tives and launches, with proper ecosys­tems of in­te­gra­tors. These new de­vel­op­ments, which man­i­fest the ma­tur­ing mar­ket of IoT, have as­sisted in a rise in in­vest­ments in IoT an­a­lyt­ics, ap­pli­ca­tion de­vel­op­ment and in­fra­struc­ture. As we are cur­rently still in the first gen­er­a­tion of IoT, we can ex­pect a much broader and busi­ness and value con­text in which IoT can be a crit­i­cal com­po­nent.

Ac­cord­ing to a re­cent sur­vey by Voda­fone, more than 60% of com­pany ex­ec­u­tives felt that any kind of dig­i­tal trans­for­ma­tion is not pos­si­ble with­out IoT in the cur­rent sce­nario. Given that the cur­rent global IoT mar­ket has ex­ceeded the $150 bil­lion mark and ex­perts do pre­dict a rise of ten times the rev­enue by 2025, it can be safely said that IoT soft­ware and plat­forms are ex­pected to con­tinue to drive the mar­ket. With time, more and more data will be moved to the cloud, new IoT ap­pli­ca­tions will be launched in the mar­ket and an­a­lyt­ics will con­tinue to gain im­por­tance. Also, the cur­rent mar­ket trends high­light that the cloud ven­dors are gear­ing up for mass man­u­fac­ture of cloud-ready hard­ware to ease the in­ter­op­er­abil­ity and per­for­mance be­tween IoT de­vices, and the data which is moved to, stored and an­a­lysed in cloud stor­age plat­forms, both pub­lic and pri­vate. Ama­zon, Mi­cro­soft and a num­ber of other lead­ing IoT cloud stor­age providers have an­nounced the same. This, in turn, might have a detri­men­tal ef­fect on the ex­ist­ing hard­ware man­u­fac­tur­ing in­dus­tries.

Be­ing in the first gen­er­a­tion of IoT, we are still con­fined to us­ing it as medi­ums of col­lec­tion of data from de­vices and stor­ing and analysing the same on cen­tral­ized cloud plat­forms. As we move for­ward, this rev­o­lu­tion­ary tech­nol­ogy is all set to of­fer us edge an­a­lyt­ics and in­tel­li­gent, self-suf­fi­cient net­works. From data col­lec­tion and stor­age, the IoT-en­abled de­vices will be trans­formed to ac­tu­a­tors, which will have an im­pact on vir­tu­ally ev­ery in­dus­try and mar­ket. It is just a mat­ter of time.

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