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Published On: Tue, Nov 13th, 2018

IoT trends in 2018: what you can’t miss

If you are not familiarized with IoT (Internet of Things) this article will answer many of your questions in just a few words. You may wonder what does IoT has to do with your daily life. Well, IoT is the one concept that connects basically everything – all things that come to your mind are somehow included in this concept. This network of things is – of course – the beginning of a new era. You probably wonder why, and the easiest way to explain it is this: IoT brings new opportunities to the table. From new types of transactions to various data sources and new revenue streams, IoT has it all. The contextualized finances that have to do with IoT will influence the way people perceive and use some services. IoT will help with decreasing the cost of hardware, will upgrade data storage options, will bring new modalities to process frameworks and will easily shift in consumer’s lifestyle. These are the trends related to IoT that were followed in 2018:

photo/ Jan Alexander

Connected devices

Technology advancements are continuously appearing, so there’s no wonder why devices became such an important part in people’s lives. Interconnecting devices is a practice that makes the life of people easier. Since 2015, the number of connected devices doubled. These devices are IoT connected, and the predictions regarding future years are truly amazing. Besides the fact that the IoT market is worth millions of dollars annually, it is said that by 2025, it will be worth a billion dollars each year, with a total global worth of 6 trillion dollars.

The expectations are pretty high for the following years and they are very likely to be met. Regarding the number of connected devices, around 5.5 billion devices are added to the IoT network. Of course, interconnectivity comes with a series of benefits that simply can’t be ignored. Forbes predicted that blockchain adoption will influence the IoT market for the better, leading to a collaboration between the two.

Artificial Intelligence

Many people question the role of Artificial Intelligence in IoT, when – in fact – it might be the most important part of it. More and more enterprises focus their attention on implementing Artificial Intelligence in their business tasks. Deploying Artificial Intelligence to make better decisions and to automate some processes that previously took a lot of time, effort and attention will lead to amazing results from these companies. But what is the relationship between Artificial Intelligence and IoT? There are many tech upgrades that combine both the benefits of IoT networks and Artificial Intelligence. One of the applications of both of these technologies that caught the attention of everyone in 2018, as it boomed like never before is represented by facial recognition and biometrics in general. As mentioned before, device interconnectivity is a major trend, but it is backed up by something much more relevant – cybersecurity. IoT must be protected wisely, and one way to do it is by including biometrics on all devices. People already see this change, since most smartphones are equipped with biometric facial recognition or at least fingerprint authentication. Even laptops are now featuring such systems, which transform device interconnectivity in a safer medium.

LPWAs

Low Power Wide Area Networks also known as LPWAs are analyzed thoroughly at the moment. The huge number of IoT devices that are supposed to come online in the future years will impact the industry in ways that were not predicted yet. The current wireless solutions won’t meet the needs of the emerging devices, so a new option must be taken into account. For a high-coverage solution to the problem that’s about to come, analysts brought LPWAs to the table. This is a standardized approach that is most likely to become reality in the future years. Connecting the billions of devices requires truly powerful resources, and LPWAs can offer people just that. In fact, LPWAs are specifically designed for low-power IoT applications.

There is a clear value chain that is in direct relation to IoT and LPWAs. It all starts with hardware components, which will become more accessible to the large public. Hardware components include sensors, chips, advanced routers and so on. The chain continues with smart devices, that are already part of people’s daily lives. The increase in smart devices will be visible from all points of view. Next, network infrastructure will be changed, as mentioned in the first paragraph. Interconnectivity will be the focal point of this architectural change. System integration might raise some problems for specialists, and back-end support will become a must for people who are not up to date with the latest technological upgrades. Finally, the biggest change will be seen in UX (User Experience). Service bundling, interactive platforms, clear visualization, and transparency will become the base of customer service.

Security trends

Security is key to IoT, and that’s no secret. People are worried about cybersecurity anyway because tech advances but so do hackers. Thus, analysts started to focus on security in a growing competitive IoT market. Since it was discussed that the IoT market will grow exponentially, cybersecurity becomes a must have for all companies. The tech sector will host both winners and losers in terms of IoT services. Some won’t be able to cover all the security requirements because they are simply too expensive at the moment. Even so, opportunities exist to include cybersecurity in one way or another in the IoT market. Privacy and the customers’ trust will become key factors in this direction. To secure the IoT ecosystem in its entirety, companies must collaborate between them. As you can read in the article posted here, security is a problem that must be tackled somehow, before IoT reaches the enormous level it is supposed to.

It’s highly important to understand that serious vulnerabilities will be present. Insecure software, insecure interfaces, insufficient authentication security, and similar factors will influence the way people perceive IoT services. The many perceived downsides can be battled through highly effective cybersecurity measurements. IoT adoption grows and so will cyberattacks. The IoT world will raise requirements that might be difficult to respect at times.

Author: Cynthia Madison

About the Author

- Outside contributors to the Dispatch are always welcome to offer their unique voices, contradictory opinions or presentation of information not included on the site.

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  1. […] If you are not familiarized with IoT (Internet of Things) this article will answer many of your questions in just a few words. You may wonder what does IoT has to do with your daily life. Well, IoT is … (read original – story…) […]

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