IoT Predictions for 2018: Data Ownership, Edge Computing and More
Here are a few ways in which the Internet of Things landscape will likely evolve this year.
Jan 21, 2018—
During the past few years, Internet of Things (IoT) technologies have made some impressive advancements, while simultaneously becoming more accessible for a wider range of industrial organizations. As a result, the IoT has given countless businesses the power to channel unruly oceans of device data to realize operational benefits, like enhanced device health and lower operating expenses. To achieve these goals, companies have advanced to various levels of maturity in their IoT deployment. But for the overwhelming majority, these solutions remain underdeveloped, leaving extensive unrealized potential on the table.
That being said, as IoT awareness and understanding continue to rise, organizations are preparing to bridge this shortfall to optimize their return on investment (ROI). In fact, a recent study found that 73 percent of businesses plan to increase their IoT investment throughout the next year. As this shift continues, here are a few ways I foresee the IoT landscape evolving in 2018:
Up until now, IoT platforms have received the lion's share of the spotlight. But while they come in many shapes and sizes, all IoT platforms suffer from the same shortcoming: they're incomplete solutions. This means that to realize any business value, companies must build on top of them. This has greatly held back enterprises and industrial companies from deploying the IoT on a larger scale. During the year ahead, the transition away from platforms, toward business-focused IoT applications that can deliver business value from day one, will take center stage.
2. Composite digital twins will gain momentum.
3. Edge computing will emerge.
4. Centers of Excellence will unite IT and OT.
5. Data ownership and privacy will remain a challenge.
Dave McCarthy is a leading authority on the Industrial Internet of Things (IIoT). As the senior director of products at Bsquare Corp., he advises Fortune 1000 customers on how to integrate device and sensor data with their enterprise systems to improve business outcomes. Dave regularly speaks at technology conferences around the globe and recently delivered the keynote presentation at Internet of Things North America. He is also a frequent contributor to IT publications, including IoT Evolution and TechTarget. Dave earned an MBA degree with honors from Northeastern University.
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