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Four IoT Trends To Keep An Eye On

Forbes Technology Council
POST WRITTEN BY
Kurt Dykema

With the development of mobile, cloud and security technologies, the internet of things (IoT) has become a mega trend. Many experts have even named IoT as the next Industrial Revolution. As we move further into 2017, we will see it grow even more, and its impact will become indispensable for businesses, governments and consumers. The IoT is a multifaceted industry that seems to be touching every area of the marketplace, and the following are a few trends I expect we'll see emerge within the next year.

The Cloud

The evolving nature of the cloud is instrumental in predicting where the IoT is moving. In fact, the key to IoT growth can be seen by closely observing bigger platforms and the scale in which they invest and develop. Cloud platforms such as the Google Cloud Platform, Microsoft Azure, Amazon Web Services and IBM Cloud are ramping up, but this is making it harder for IoT platforms to demonstrate value. In the new year, the market will reward (or punish) these four major cloud offerings to the extent that they deliver on their promises.

Today’s innovation becomes tomorrow's commodity. I remember working on wireless keyless entry systems for Oldsmobile in the early 1990s. We built them out of transistors (not ICs), and were able to sell them at healthy margins. Today, the keyless entry feature is widely adopted: volumes are high, and the margins are low. The same scenario is playing out in the world of IOT platforms -- it’s a race to the bottom.

Monetization Of IoT Through Data

The cost of moving and storing data continues to decrease, as cellular and cloud service price points drop. Expect to see more of a spotlight on mesh radio protocols built on top of Bluetooth in the year ahead. These technologies drop the price point of the hardware while still enabling the edge devices to connect directly with mobile phones. This may be the year that we begin to realize the value of the data derived from these connected devices and see consumers begin to pay for them.

Last June my company demonstrated this technology at a trade show event, and I think we'll see the production release of this IOT product sometime in 2017.

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Increase In IoT Security

The security of IoT has been a hot topic in the past few years. In 2017, we now understand that if an organization is intentional and proactive, then the security gap is not in the technology -- the gap in is the technology implementation. For example, if your car has a capable lock but you leave your keys in your car door, is the automotive company negligent when your vehicle is stolen?

The same concept is true for IoT security. Advanced device security technology is available in the marketplace, but it needs to be designed in from the beginning. In 2017, we will begin to see embedded security features as a necessary means to using a device, such as touch identification. The touch feature has been implemented very well on the iPhone product and a variety of laptops, so Apple’s production volume should drive down the price point of the hardware for the IoT industry.

Convergence Of IoT, Image Processors And Smart Sensors

Image processes and smart sensors are crucial in developing IoT applications, especially in the manufacturing industry. Aside from transforming how businesses implement IoT, they are particularly useful in keeping track of and identifying items in complex or organic processes, such as soil content or water waste. As image processing and smart sensor technology advances, we will see their size and cost decrease while their capabilities and overall performance grows stronger. This will lead to more applications that create new business value.

For example, we've been seeing interest from companies who make IoT supplies for the home. They see value in using cameras to help consumers keep track of what they have in our homes, and making the process of replacing these items easier for us. With low-cost imagers and the computing resources available in the cloud, some of these scenarios will begin to make business sense.

The IoT will only continue to influence market trends in the years to come. It's important to stay informed on these emerging trends to ensure your organization is ahead of the game. This knowledge will make sure you are moldable, and able to embrace future trends as they hit the technological market.