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IoT shopping is in full bloom and is about to blossom bigger. IDC's research predicts that IoT investments for the period from 2017 to 2022 will hit $ 1.2 trillion. This is an annual growth rate (CAGR) of more than 13%. IDC's global six-monthly Internet of Things guide provides a thriving IoT technology market. A large part of this total is expected to relate to industrial applications. Discrete production and transportation will exceed every $ 150 billion in expenditure in 2022, making these the two largest areas of IoT spending.
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This graph shows the past, present and future of IoT features. (Image source: IDC) |
Last fall, at the IoT World Congress in Barcelona, the author of the guide, Carrie MacGillivray, VP of IoT and IDC Mobility, explained the forces behind the proliferation of objects. He noted where the IoT comes from and where it is going and pointed to distinct phases in the development and implementation of IoT systems, from early limited systems, to today's predictive data analysis and to a future with edge computing, artificial intelligence (AI), blockchain security and video systems.
The three chapters of IoT
MacGillivray explained that the development of IoT has followed three clear chapters: "the M2M era", which is behind us, was current and the chapter that is coming. In the first chapter, there were disparate endpoints, the solutions were specific and focused, and there was the opportunistic use of the cloud. There was also a minimal intelligence and the analyzes were of a descriptive nature. These days, there is a growing association between endpoints in IoT connectivity. Limit computing is increasing in importance while the cloud has become a critical enabling factor. Furthermore, the analysis became predictive to detect future results.
MacGillivray sees the changes in these elements. In the next chapter, the IoT endpoints will become interdependent. Furthermore, IT at the limit will become mainstream. The cloud will be the place for computing and heavy analysis. And the predictive analysis will turn into prescription analysis that offer the right solution after determining future results.
"In the early days of IoT, we had different endpoints that did not do much data analysis, but it was descriptive: on / off or hot / cold," said MacGillivray Design News. "Now the endpoints are talking to each other.We are seeing IT at the limit, which is just emerging as part of the IoT, and the cloud is still playing an important role.In the next chapter we will see the interdependence between devices and the independence of devices at the margins, with less data coming back to the cloud ".
The Edge, AI and Blockchain
As for the future, MacGillivray predicts that there will be a convergence between IoT and other technologies, including blockchain and artificial intelligence (AI). It also sees a greater dependence on edge computing with the cloud used only for more sophisticated analyzes. "Limit processing allows the distribution of computing across the network, depending on the use cases, sometimes the data needs to be processed only on the device and it is not necessary to transfer it back to the cloud," said MacGillivray . "Sometimes connectivity must only be intermittent, which is useful when connectivity is not always available, what we are seeing is a hybrid between edge and cloud computing."
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MacGillivray gave a talk on the past, present and future of IoT at the IoT World Congress in Barcelona. (Image source: Design News) |
It also sees the convergence of technologies. "Artificial intelligence will become a critical source for IoT." In the beginning, artificial intelligence was just a matter of monitoring processes and goods, but now artificial intelligence is helping human beings make decisions, "said MacGillivray. As for security, MacGillivray considers the promising blockchain. "Blockchain can bring confidence in the IoT.The IoT network must be secure and must be an instance of truth.It requires a lot of data to make a transaction.The devices in the field now have the processing power required by the blockchain. "He also sees the video as an emerging IoT function. "Video is becoming a killer app in IoT, since it can capture the context of the process."
As for the remaining IoT obstacles, MacGillivray cites IDC research that reveals insights into the barriers of IoT implementation for industrial companies. The number one obstacle is the need for larger infrastructure upgrades before deployment, cited by 51% of respondents. Problems with technological scalability are close, cited by 47%. Third is the exposure to security vulnerabilities cited by 45%, while the cost concerns for expansion reach the fourth, cited by 41%.
Rob Spiegel has covered automation and control for 17 years, 15 of them for Design News. Other topics covered included supply chain technology, alternative energy and information security. For 10 years he was the owner and editor of the food magazine Chile Pepper.
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