Our Top 5 IoT Predictions for 2018
The Internet of Things is still one of the most discussed topics in the tech sphere. With IDC predicting that worldwide spend on the Internet of Things will hit £568 billion worldwide, it’s no wonder that both consumers and providers are interested in it. The IoT is changing the way we go about our daily lives, whether it’s from a business perspective, or from how we organise our homes.
It is estimated that 70 billion IoT devices will exist by 2025, so it’s obvious that we are still on the precipice of the monumental changes it will bring to the world. So, what does it look like for IoT in 2018?
Here are our top 5 predictions:
Blockchain Adoption in IoT
Blockchain technology is still not quite mainstream, however this year is probably going to see it become more and more popular because of its use in IoT. All interconnected IoT systems could use blockchains to organize, share and store data more efficiently and securely. Because of the growth of Big Data due to the IoT, blockchain technology will allow organisations to target customers more efficiently.
It’s predicted that in 2018 blockchain technologies are going to become pivotal in a wide range of industries.
Manufacturing and IoT
The manufacturing industry is predicted to spend the most on the IoT this year. The report by IDC stated that manufacturing organisations will spend £139 billion across the world on IoT solutions. The spending will be mainly focused on solutions that support production asset management and manufacturing operations.
Focus on Interoperability
One of the biggest issues that Internet of Things devices face is interoperability. Most of manufacturers based their devices on protocols like Thread, Bluetooth and WiFi, but didn’t focus on others. In 2018, manufacturers are predicted to focus on and make a much bigger effort in standardizing their IoT solutions software and hardware around pivotal protocols.
Edge Computing and Machine Learning
With more and more consumers adopting IoT applications, they are rapidly evolving to be powerful enough to run complex algorithms and can be fully-fledged operating systems. Solutions providers say that in 2018 edge computing will become more and more widespread. Edge computing refers to the fact that data is processed and analysed at the edge of the network where the IoT connects the Cloud to the physical world. This is where connected devices and sensors collect and analyse data locally, no longer being dependent on internet connectivity or the internet for certain situations where the data needs to be processed securely and quickly.
The next wave of resource-efficient ML algorithms will develop the potential for Edge Devices to take over a higher percentage of computing requirements. Thanks to its ability to reduce latency and increase privacy, edge computing is predicted to grow and evolve massively in 2018. According to IDC, it’s predicted that by 2019 somewhere in the region of 40% of IoT-generated data will be processed, stored, analysed and acted upon at the edge of the network.
Security: The Main Focus & Risk
As with any internet-based tech that grows, security risks and challenges increase. The same can be said about the IoT and this will be a critical challenge for customers in 2018. Security experts will be faced with new levels of threat from hackers as more and more devices become interconnected.
The potential for vulnerabilities will grow together with industrial IoT. These will be found in worldwide infrastructure systems, therefore creating fresh new challenges for security experts to overcome in order to prevent attacks on individuals, businesses and governments.
It’s clear that there will be both challenges and positives arising from the IoT in the future. It remains to see how experts will respond to the evolving challenges and how businesses will adapt to growing consumer needs. One thing’s for sure, like with any evolving tech, the future looks pretty exciting!