The Internet of things (IoT) is growing rapidly and 2019 will see IoT becoming more deeply embedded in our day-to-day lives at home and at work. IoT technology continues to advance at unbelievably express speed. It’s now swiftly becoming a part of our everyday life. Soon, it will be taken for granted that any device we possess – cars, TVs, watches, kitchen appliances can go online and connect with each other. Individual consumers and industries equally are expecting the next big revolution. In business too, tools and machinery are generating data that drives efficiency and enables new standards such as predictive maintenance to become an actuality, rather than a fantasy. It is expected that by the end of 2019 there will be 26 billion linked devices around the world. Here are eight trends about how it is likely to play out over this year as we become increasingly used to the fact that the internet isn’t just something we associate to using only computers and smartphones, but practically anything we can think of
Businesses will grow
According to research, businesses will steer the flow in IoT in 2019, with 85% of companies executing or developing IoT arrangements this year as it offers vast profits to businesses. For example, mannequins that can converse with customers’ smartphones in retail settings, transferring details about merchandises on display. In manufacturing sector, businesses will progressively see the significance in linked machinery that is adapted of reporting every aspect of its operating factors and productivity to other linked devices. Only recently projected maintenance has been achieved by the leading players who have spent heavily in IoT for several years now. With an understanding of when these results are or aren’t useful, these results will start to gradually benefit the smaller companies.
The IoT will give every device we own a voice. We’re getting familiar to using our voices to control smart home devices such as Amazon’s Alexa hub, or Apple’s Siri. But 2019 will be the year that the rest of our gadgets find their own voice. Practically every car company is working on virtual assistants to help drivers more safely and conveniently control vehicles while behind the wheel. The benefits of smooth communication will include human-machine interfaces such as voice user interface (VUI) or Chatbot. Voice control makes sense in many ways as it keeps our hands free to operate controls that still need manual input, and our eyes free to watch for dangers. Voice recognition and generation also known as natural language processing is the logical next step towards making technology that anyone can use to work more effectively or improve their lives.
Edge computing is about algorithms that are run at the “edges” of a network. This is usually at the point where the network touches the actual world, such as within sensors or cameras. The point is that the huge data collected by these devices will be redundant. A good example is a security camera, it may have to transfer terabytes of video data to a main server, but the only data of any significance will be the few megabytes screening suspicious or illegal activity. These devices are accomplished to transfer only their own computation, rather than merely handing over information on to the server/cloud. By this, networks become less blocked with traffic and more computing power is accessible for the tasks. Image recognition algorithms on hardware and software installed in the camera would examine the footage for any doubtful activity, and only useful video data would be permitted to run on the cloud for additional processing or storage.
This year should see the first consumer-ready 5G networks that could operate up to 20 times faster than existing mobile data networks. Ideas such as the “smart city” – where public facilities are networked and the data analyzed to create cleaner, more effective living surroundings – have become more feasible. Self-driving or autonomous cars and public transport vehicles will also greatly benefit from the increased bandwidth available.
AI will increase IoT development and deployment
When you have huge number of machines all communicating with each other in an industrial set-up, analyzing the mountains of data that are created is beyond the capacity of humans. As IoT set-ups increase in size and complexity, they will gradually become more dependent on new developments in AI and machine learning. AI also assists in keeping IoT systems protected, through programmed risk revealing systems.
Investments will increase
IDC predict that spending on IoT will reach nearly $1.4 trillion in 2021. This agrees with companies investing in IoT hardware, software, services, and connectivity. Until 2021 hardware especially modules and sensors will be largest spending category. It is however expected to be overtaken by the faster growing services category. IoT’s undeniable impact has and will continue to lure more startup venture capitalists towards highly innovative projects. Many businesses have assured adding IoT to their services model from the Transportation, Retail, Insurance and Mining industries.
The demand for skills will increase
Incorporating IoT data networks with AI to reclaim on call analytical understandings has already gained force last year and will grow exponentially in 2019. The need for Big Data and AI skills and services will increase, while most IoT service providers have emphasized on the shortage for expert candidates, internal learning programs in close vicinity with R&D has set to be introduced in many companies.
IoT as a service business model
Transformational business models will develop in many IoT verticals over 2019, and will be supported by Big Data and AI tools. The value is in the ease of the service for end customers, and the data that is collected, analyzed and fed back into suppliers’ business processes. However the capacity for IoT business model transformation spreads further to include a selection of more multifaceted business models for existing industries, such as heavy industry, transport and logistics, and smart cities. For these industries, IoT solutions can support more of an ongoing, managed service relationship with both technology providers and end customers.