20 billion IoT devices connected by 2020. IoT it is still a hot topic. What should you be aware of when working on it? Check our summary.
IoT consumption will grow.
20 billion devices connected to the IoT by 2020. More than $1.29 trillion will flow into IoT solutions. Spendings will concern all aspects: hardware, software, and sensors. 74% of companies agree with the statement that digital transformation will be impossible without the implementation of the Internet of Things. This data leaves no doubt – the vision of remote control of objects from the SF classics and available only for the Jedi Masters has not only become a reality but also will revolutionise the way how most industries work.
Companies will gradually increase their awareness of using business opportunities and expanding IoT efficiency. From the pilot project, which has some abilities, IoT will be implemented directly to maximise ROI. According to Gartner IoT products and service suppliers will generate more than $300 million in revenue by 2020. The main factor to success will be providing the exceptional user experience. There are no exceptions – this applies to every industry.
AI, RPA, Big Data in the service of IoT.
Artificial Intelligence, Machine Learning, Big Data – new technologies harnessed to support IoT will make IoT solutions more intuitive, user-friendly and safe.
The driving force of IoT is data. Sensors can collect thousands of data, but efficient processing and transmission are the base for creating useful applications. However, the amount of data which should be processed will not be able to be handled by a human. Using Big Data, AI and RPA technologies will allow connecting more devices, let exchange data effectively, analysis them, and last but not least – extract insights. At the moment convergence IoT, Big Data, RPA, and IA seems to be a necessary element for the development of software and applications, and we can assume that in the future it will be difficult to look at them other than permanently integrated components.
Data security will be a priority.
The increasing number of connections and the amount of data that will be processed through various platforms will force focusing on the issues of systems and data security. Companies can’t afford to lose customer trust by leaving their systems vulnerable to hacker attacks. We all were brought back to reality in October 2016 when the malware Mirai attacked hundreds of accounts for popular sites (including Twitter, Netflix, PayPal). Therefore, a proactive and dynamic approach to the implementation of security enhancement strategies will be necessary. According to Gartner, global IoT security expenditure will increase by 28% compared to 2017. Increasing the level of consumer data protection is also enforced by legal requirements. Implementation by the European Union of the General Data Protection Regulation – GDPR enforces a revolution in the approach to guaranteeing the security of IT systems. But in this case, Blockchain comes to the rescue. The Blockchain operation consists in creating a distributed, and thus safe, data storage and verification model. By using blockchain technology, data processed can be stored and transmitted transparently and with the high level of protection.
 According International Data Corporation Turner, Vernon, “The Internet of Things: Getting Ready to Embrace Its Impact on the Digital Economy,”
 According “Gartner Says 6.4 billion connected “Things” will be in use