Paresh Sagar is the CEO of Excellent Webworld , IoT, Web and Mobile App Development Company.
It is estimated that there will be over 30 billion IoT devices by 2020. With the increasing trends of IoT devices and its implementation in industries, it is imperative to take note of which trends could influence your business.
Looking at the pace of IoT market trends and its wide range of applications, it is expected to affect industry verticals such as retail to health-care. As a marketer, you can’t overlook the importance of IoT Trends that can help you achieve sustainable, and long-term growth.
While there are innumerable trends in IoT emerging in the world today, let’s dive deep into the eight we trust will most affect consumers and business in 2018.
You will see the retail industry changing its whole way of doing business. Some of the IoT markets trends in the retail industry will be automated checkout, smart shelves, and robot employees.
IoT devices can help retail owners and employees lessen inventory errors and optimize supply chain management. In addition, even customers will also be benefited by a smooth shopping experience.
For example, store scanners will be replaced by the smart beacons and it will send alerts about discounts to a user’s smartphone.
While IoT in retails has yet to get through that breakthrough, but some of the stores have already implemented it.
As the IoT markets trends are going high, the devices are also increasing. Conversely, there will be so much of security concern for the devices. The consumers that are buying IoT devices will be under a constant threats and will subject to attacks.
IoT devices often don’t come with the kind of security it requires. So the upcoming year will be equipped with the security features you have on your computer.
Manufactures will have to take steps to ensure consumer’s data and security, otherwise, they will fall behind in the industry.
Within some years we have seen a vast improvement in the health-care industry as it has implemented connected devices.
According to research, the IoT in the medical field is expected to reach $72 billion by 2021.
Patients now days are able to monitor their health by wearing IoT enabled devices on their wrist and keep their reports updated with the doctors.
These devices let doctors check blood sugar levels and heart rate monitors remotely, and take any preventive action if necessary. In the hospitals, connected gadgets can aid professionals to track products from factory to floor, handle resources, and monitor equipment to prevent critical hardware from breaking.
The concepts of smart home and smart offices will be prevalent in the upcoming days. Don’t get surprised, if next time your neighbor invites you and gives you grilled food baked on smart devices. And perhaps turn on the light or Tv with the voice command.
The consumer electronics industry is going to exceed 2 trillion dollars by 2020. if you are curious about making your home a smart home then this will be your time to do it.
From cleaning your floors to acting as a security guard IoT devices will be continuing to grow and provide you with the unimaginable results.
In 2018, you will see enhancement on connected devices used for the marketing campaign. As more products are launched in the market, smart devices will be a prime choice for marketing.
Internet of things gives chance to companies for creating more marketable products. For instance, an automobile company can create a marketplace their new car, hence drivers can order start buck coffee straight from the car’s dashboard.
Spotify and Uber have also collaborated to make the more enjoyable and cohesive experience for their riders.
Increasing trends in IoT lead to more devices in the industries. Hence there will be more data related challenges regarding bandwidth, network speed, and more.
So rather than using a cloud, the data will be stored by using edge computing.
It has been predicted that IT spend on Edge infrastructure will touch around 18% of the total budget on IoT system by 2020.
Nest cam IQ indoor is the example of a product using edge computing to distinguish faces and send alerts if someone doesn’t look alike. Other IoT cameras depend on the cloud for processing on the other and Nest’s Product is different.
In the early stage of IoT evolvement, many devices were developed for only desktops. But that trend has changed with the excess use of mobile devices. More and more IoT devices are following the mobile first approach.
As IoT is growing into the mobile space, we will see the behavior of the consumers changed. Within some time IoT consumers will expect an extra IoT experiences from their favorite brand like in-store personalized discounts.
To gain more customers and increase their trust towards your products you will have to come up with the IoT solutions or integration.
The enhancement of the IoT demands a considerable number of qualified employee, as it happens in any technology. The current workforce isn’t ready to deliver than expected results in IoT.
Numerous education institutes have begun offering degree designed to offer credentials backed by well-known education groups.
Additionally, boot camp-style IoT courses are likely to become more famous, hence the employees looking forward to leveraging IoT in their businesses can offer training to their employees.
The IoT perhaps is the most robust and disruptive, tech force today. While some Iot market trends are clear, others are bit more uncertain. Regardless of how the company is big or small, all the companies should start thinking about the much needed IoT Integration to have more consumers and better business.