The Internet of Things (IoT) is expected to transform a great many things after the world finally realized its technological merits and vast potential. Apparently, IoT has already started doing its thing transforming not only the way businesses operate but also how people live. IoT’s most recent evolution was triggered by the advancements in various technologies including the cloud, edge, AI, analytics etc. As of now, it is still considered to be in its infancy which makes it a gamble that many enterprises are reluctant to consider.
Forrester however sees great things in store for enterprises that are willing to invest in IoT. According to the famous research company, owing to the presence and influence of IoT, enterprises are on course for a major overhaul in 2019.
Here are 5 predictions from Forrester on how IoT will remodel enterprises next year.
Enterprises will make a big move to motivate the consumer market
Enterprises pitch IoT for the average consumer as a vision of a centralized, interconnected ‘smart’ home. But so far the response is lukewarm at best. Consumers are not just there yet and are exploring options for the so-called ‘smart home’ by buying one app-enabled device at a time. If it’s allowed to go this way, things will remain the same next year as well.
This is why Forrester predicts that enterprises would make a big move next year, most likely by bundling IoT services together and presenting them with discount offers to motivate the consumer market.
The focus will be more on use cases
At present, the Internet of Things is more of a hazy jargon for people – something that’s hyped to do big things in due course. Michele Pelino, the Principal Analyst of Infrastructure & Operations Professionals at Forrester, told TechRepublic that in 2019, the buzz around IoT will focus more on the actual use of the technology.
The conversations would be about the many use cases of IoT, the solutions, the applications etc. The world will be more aware of IoT’s true potential of combining different kinds of solutions in a secure, analytics-driven ecosystem to solve a problem.
More IoT platform partnerships and competition
IoT platform vendors will be targeting specific use cases next year according to the Forrester report. Business professionals won’t be looking for one single platform for managing various business processes in an organization, and would instead seek platforms with specific specialties.
The approach is already commonly practiced by organizations who did their fair share of research on IoT and the cloud. It’s safe to assume that major platform vendors would be putting in an effort to appeal to more people and outpace increasing competition by specializing in more use cases of the Internet of Things. We can certainly expect the birth of more IoT platform partnerships next year.
Managed IoT services market will flourish
With IoT expected to considerably influence how enterprises operate next year, many organizations with IoT expertise will attempt to capitalize by establishing a managed IoT services market. They will be focusing on helping companies manage their fragmented IoT assets.
The whole idea of managing the lifecycle of interconnected devices will be given more importance as more connected products are made available in the market. This would subsequently lead to more managed services opportunities. As the trend gains momentum, IoT will get some extra boost next year to go mainstream faster.
Cybercriminals will get more opportunities to cause damage
Cities have started becoming smarter by using connected devices to implement various ‘smart’ actions like smart traffic controls, smart lighting, smart transportation etc. Such an ecosystem with a variety of connected devices will most certainly have security vulnerabilities that can be exploited. This has always been one of the major concerns associated with the Internet of Things.
Forrester analysts expect targeted ransomware attacks next year by cybercriminals exploiting the vulnerabilities in successful smart city or smart neighborhood implementations. The attack can push back the growth of IoT and might give consumers second thoughts about using IoT devices. There will also be some disruption to services. The repercussions of cybercriminals exploiting security vulnerabilities of an IoT ecosystem will force the public to seek better security, while organizations invest more in beefing up security and minimizing the risk of cyber attacks.
IoT will be turning a lot of heads next year, and we will see enterprises not only competing to meet consumer demands but also teaming up to specialize in specific use cases and be more marketable in the process. IoT waves will also impact several other industries including mobile app development. For the connected devices to do what they are designed to do, an app should be overseeing them. IoT app makers have their work cut out for them.
AOT Technologies have been preparing for this scenario for a while now, slowly yet steadily polishing our skills with IoT and a number of other ‘new-gen’ technologies. Feel free to talk to us to learn more about IoT and IoT apps.