The Big Internet of Things Trends for 2018
IT’S the start of a new year and everyone is looking at what’s coming in 2018. Businesses across the world have been assessing the big trends coming this year, and top of many people’s list is the Internet of Things.
We’ve pulled together five of the big IoT predictions from across the globe to kick off the new year:
1. According to IBM, the number one trend and the “huge next step” with digital data is the Digital Twin, a key tool to improve operations. The digital twin is “a virtual doppelganger of the real-world thing”, which will help organizations bridge the divide between the physical and digital.
2. TechTarget says that IoT will drive business transformation, claiming that increasingly “companies that have adopted IoT see the technology as mission-critical to their business”. Pointing the Vodafone’s “IoT Barometer 2017/18” (registration required), which claims that 74% of companies that have adopted IoT agree that digital transformation is impossible without it, TechTarget argue that “businesses that implement IoT systems in the next year will have a clear advantage over competitors when it comes to evolving their digital capabilities”.
3. The retail, healthcare and industrial/supply chain industries will see the biggest growth in IoT capability, according to Forbes. “Forrester Research has predicted the IoT will become “the backbone” of customer value as it continues to grow. It is no surprise that retail is jumping aboard, hoping to harness the power of the IoT to connect with customers, grow their brands, and improve the customer journey in deeply personal ways. But industries like healthcare and supply are not far behind.”
4. Network World points to Blockchain and cryptocurrencies being high on the agenda. It says: “2017 saw digital currencies like Bitcoin and Etherium become household names, but 2018 will see new innovations in the blockchain technology that’s driving these and other cryptocurrencies forward. Massive investments in blockchain are already expected in the coming year, and this new type of digital ledger could stand to become the new norm in financial markets around the globe.”
5. IoT Business News is looking at LP-WAN solutions to play a major part in innovation this year. It says: “New connectivity options like Low-Power Wide Area Networks (LP-WAN) are making innovation possible. LP-WAN technologies, like Narrowband IoT (NB-IoT) allow for increased network coverage over a wide area at a low cost, making them an ideal solution for adding connectivity in hard-to-reach places. According to the analyst firm Analysys Mason, once there is greater awareness and understanding of LP-WAN, there will be new wave of growth in this area. LP-WAN technologies will begin to open the IoT market to applications that have not previously benefited from connectivity.