Why 2020 Is A Pivotal Year For IoT

  • By Arun Goyal
  • 24-07-2019
  • Internet of Things
internet of things
Back in the mid-80s and early 90s, most of us imagined robots as a killing machine sent back in time to end human civilization as we know it. But, what we didn’t know at that time was that we would actually be living in a future where technology would be not only become a part of our daily lives so quickly, but it will also be loyal enough to work on our commands.
 
The internet of things, most commonly abbreviated as IoT, has already radically changed our lives by making devices more intelligent, connected and efficient through a combination of machine learning, data science, commodity centres, and embedded systems. However, with the ability to process sizeable data in real time, there are also a few concerns about the high risks involved in data security and privacy threats.
 
Despite all that, predictions are high for the exponential growth of IoT connected devices in the coming days, with industry leaders like Gartner and Forbes putting the numbers between 30 to 50 billion in the year 2020. So, what’s in it for IoT in the coming year? Let’s find out!
 
Roles That IoT Could Take Up in 2020
With the ever complex nature of technology in IoT, it is somewhat daunting to forecast the exact turns that it will take in the year 2019 and beyond. But, here are some predictions based on the upcoming trends that are expected to roll out in the year 2020.
 
1. Focus on Industrialization
Over the years, IoT has seen tremendous growth in the investment sector, with IDC estimating the figure of $745 billion to be spent on IoT connected devices.
 
Although there have been some recent failures with the integration of technology ( as seen in the case of Lily Robotics, Juicero, Jawbone and more), the boom for IoT devices in the infrastructure industries is at an all-time high with names like Veniam and Better view getting actively involved.
 
That, combined with the reduced costs of deploying the technology all across the landscape, can be expected to create new opportunities in industries such as telecommunications, healthcare, transportation and more.
 
2. Security Enhancement
With recent data breaches in big shots like Google, Quora, and Facebook, companies are becoming more and more cautious in handling their consumer data.
 
With issues of data fragmentation and security still waiting to be addressed from developers’ end, the next few months can see data security being the centre of attention for system integrators.
 
The introduction of automated machine learning and IoT will help gain more trust as a result of long term deployment of technology in the industrial infrastructure.  Additionally, mandatory security checks and procedures driven by IoT will help ensure that developers don’t compromise with data security standards in any way.
 
3. Disaster Management
IoT is quickly moving towards the application of methods which will help avert disasters and security breaches at a global scale by rapidly decreasing the response time in the enterprise security domain.
 
Every day, developers of IoT products are gaining more and more insights into how to implement preventive measures that could turn out to be life saviours in disaster management scenarios, where all other security plans go down.
 
Although the cost of implementing these security measures is not so subtle, the intervention of government regulations can help in keeping the prices of IoT products levelled.
 
4. Insightful Computing
With the integration of IoT, devices are becoming smarter by the day. They are not just tracking and collecting data about consumers, but also analysing and reporting minuscule shifts in trends and behavioural changes.
 
This is pushing us towards a more interactive and insightful technological experience. We can expect that this interaction will go beyond numbers in the near future and evolve into an intelligent conversation. Skynet, anyone?
 
5. Collaborative Framework
With the absence of a unified framework and a lack of collaboration between industries, the growth of IoT has been significantly reduced over the years.
 
Due to this issue, different industries developed different and virtually incompatible frameworks which lead to more integration challenges in the past.
 
Blockchain can help resolve these issues by providing a centralized platform for data-intensive high performing apps to be developed which are more compatible with each other, thus providing more precise and relevant IoT driven solutions.
 
6. Smarter cities
In the year 2020, we can see more cities adopting IoT integrations than ever before. With successful examples of world-renowned cities such as Singapore and Boston availing exceptional ROI with such rollouts in the past, we can envision a world with smarter sensors and data management technology.
 
As a plus, these incorporations are barely noticeable to the general public, meaning least resistance scenarios and a better standard of living.
 
7. Decentralized Workflow
With enterprise systems becoming smarter, optimized and self-governing, we can expect a decentralized workflow of essential processes. This will substantially lower the cost of ownership (and maintenance) of a fully functional and AI driven automated systems.
 
In the coming year, complex modules are expected to be disintegrated and distributed into small, self-reliant automated systems, further driving down the cost of owning and managing an IoT solution.
 
Conclusion
From the look of things, IoT is here to stay and evolve. With blockchain becoming more robust, IoT will become more functional as well as compatible with other forms of technology. And its ability to decentralize the complex processes and adjusting scale makes it a better option for industries to be a part of the integration while incurring a relatively reasonable cost.
 
The picture will get clearer as we move towards 2020, which has already been deemed as one of the most pivotal years in the technological advancement of this century.

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Author

Arun Goyal

Arun Goyal is Founder & Managing Director at Octal Info Solution, leading web and mobile app development company in Singapore, offering platform to hire dedicated developers.

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