With the development of mobile, cloud and security technologies, the internet of things (IoT) has become a mega trend that we believe needs to be implemented in every industry. Many experts have even named IoT as the next Industrial Revolution. I recently wrote an article for Forbes highlighting the IoT trends that we believe will gain momentum this year.
The evolving nature of the cloud plays a major role in forecasting where IoT is headed. I believe the key to IoT growth can be seen by closely observing bigger platforms, like Google Cloud Platform, Microsoft Azure, Amazon Web Services, IBM Cloud, and the scale in which they invest and develop. It’s going to be a big year for IoT, as 2017 could be the year that reveals if and how these platforms are able to fully deliver on their promises and become widely adopted.
The monetization of IoT through data is another development we’re focused on here at Twisthink. As the cost of moving and storing data continues to decrease and cellular/cloud service price also drops, IoT will likely become more commonly developed into our products, services and experiences. We recently published an eGuide based on our decade of experience with brands like Philips, Stryker, Whirlpool, Herman Miller and Milliken that outlines five steps to help businesses successfully monetize their IoT strategy, check it out here.
IoT security is another topic that will continue to be a defining force this year. We believe that if an organization is intentional and proactive, then the security gap will not be found in the technology itself, but rather its implementation. I predict that we’ll begin to see embedded security features become a necessary means to using a device, such as touch identification, a commonly known feature that many consumers appreciate using on daily basis with their iPhones and laptops.
Lastly, image processing and smart sensors are crucial in developing effective and valuable IoT applications. We see this in the manufacturing industry specifically, as technology is applied to track and identify items in complex or organic processes. This application holds potential for the creation of even more applications and opportunities for new business value.