Saturday, 12 March 2016

Predictions for IoT Solutions in the Global Market in 2016

Global Market in 2016

Businesses around the world are investing millions of dollars in IoT solutions so that they can meet their target by 2020. With advancements in technologies, IoT solutions are growing as we speak. The motive here is to connect everything and bring them in sync for a better and more convenient world. Plus, the amount of data that will be collected from the IoT implementation will open up countless opportunities for upgrades and further developments.

The year 2015 has been fairly good for global implementation of IoT solutions. Let’s find out what’s in store for 2016.

The “Security of Thing” Will Gain Prominence

The year 2015 witnessed a lot of connections via the IoT implementation, but there were obviously a lot of security concerns. 2016 will see a rise in the security aspect of the IoT solutions where the leading providers of IoT solutions will be the ones who can help enterprises not only deliver connected services, but secure them, too.

Success Metrics Will Be Defined

The Internet of Things will no longer counted in terms of “things”. IoT is not about things. It is about the service and this year, more important success metrics will definitely be defined. In fact, IDC added an amendment to its recent device count forecast to say that “by 2018, there will be 22 billion internet of things devices installed, driving the development of more than 200,000 new IoT apps and services”. This will shift the focus to the quantifiable impact of new services instead of tallying the quantity of devices. With the clear definition of success metrics, it will be easier to understand the actual impact of IoT solutions. 

More New Cars Will Be Connected

Connected cars will definitely be the norm in 2016 with more new cars being given the IoT solution. GM already has 1 million connected cars that have 4G LTE integration. The majority of the growth is expected to be in the United States, but there should be noticeable growth in other parts of the world. The trend should gradually pick up pace over the next few years and soon become the global industry standard.

Wide Deployment of LPWAN (Low Power Wireless Area Network) Won’t Be There This Year

The LPWAN market is still in its infancy and is not ready for wide deployment. Despite its immense potential in contributing to the continued proliferation of IoT, a wide deployment can only be done when it meets the requirements for a commercial implementation. Although deployment may be limited, 2016 will be the year of LPWAN partnerships, consolidation and marketing wars. This will pave the way for the future of LPWAN deployment in the years to come.

The IoT Market Will Align Around a Precise Lexicon

The year 2015 witnessed the rise in prominence of IoT and lots of technology providers attached the IoT acronym to their names in an attempt to claim relevance. In order to deter such usage of the IoT acronym, companies will be required to articulate exactly what their IoT solution enables. They will also be required to show how their IoT solutions will help enterprises to launch, manage and monetize IoT. By clearly defining the use and benefits of IoT solutions, companies will be able to justify the association of the IoT acronym with their offerings.

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