If you thought 2017 was a break out year for the IoT, fasten your seat belts, because 2018 promises to be even better! There are already roughly 10 billion things connected to the Internet, but that’s just 1 percent of the possible total - the potential is enormous! Here’s what we predict for the year ahead:
- Growth, growth, growth! Perhaps it’s obvious, but we expect to see massive growth across the IoT sector. Experts estimate that by 2020, the IoT will consist of about 30 billion connected objects with the global IoT market value reaching a staggering $7.1 trillion!
- LTE M and NB-IoT explodes - These LPWAN technologies will dominate new IoT connectivity options due to extreme efficiency and very low power needs. A recent report by Mobile Experts predicts a 200% CAGR for LTE-M and NB-IoT.
- Expect a smart manufacturing surge - The smart manufacturing sector is on fire! A recent IDC report estimates that this growing sector will spend $189 billion in 2018 alone.
- The rise of the drones – No, it’s not a new Star Wars movie. The use of drones is on the rise and they are driving (or flying) exciting transformation in agriculture, public safety, energy, construction and distribution and delivery.
- Greater security concerns and government regulations – As the number of connections expands and complexity increases, IoT security risks are growing exponentially. Crippling DDoS attacks like the Mirai Botnet catalyzed the industry to get serious about IoT security. Gemalto’s State of IoT Security Report revealed that 96% of businesses and 90% of consumers believe there should be clear IoT security regulations.
Talk to us about your IoT solution today!