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How Is IoT Changing?

DZone's Guide to

How Is IoT Changing?

More organizations are pursuing IoT and IIoT strategies as they see use cases driving ROI. See some current trends in IoT adoption.

· IoT Zone ·
Free Resource

To gather insights on the current and future state of IoT, we talked to 23 executives involved with IoT. We asked them, "How has IoT changed in the past year?"

Adoption

  • Growing rapidly. Up 10 to 15% per year. More small deployments having more success. Companies are scaling up.
  • IoT and Industrial Internet of Things (IIoT) is a once-in-a-lifetime business disruption that organizations are embracing more today to develop or acquire new capabilities in managing direct relationships with customers supported by transformed operating and business models. Customers are looking closely at the business cases before jumping into the technology. They are looking at where they will create new revenue, enhance competitive advantages and drive productivity with IoT.
  • We have a lot of vendor stories but not a lot of customer stories. We are seeing more practical use cases in energy and manufacturing with remote monitoring to reduce cost and achieve compliance. A lot of digital investments in unsafe work environments. Heavy industry with safety and exposure requirements. Cybersecurity is a huge issue, especially for utilities. I see them making an investment in security and taking it seriously. Interoperability is still a challenge. The balance between cloud and edge with more companies demanding real-time results and insights. Establish direct digital touchpoints between manufacturers and customers rather than distributors and channel partners serving as an intermediary. Looking at the lifecycle of products as a service.
  • Acceleration on the business side. Technology is now driven by how to change the business to disrupt and change quickly from manufacturer to service provider. Digital transformation. Rely on partners to help you do this. Organizations do not have the time to play with technology. They need to move fast to transform their business.
  • Companies that are building systems to solve real business problems are seeing significant ROI.
  • More focus on business value versus technology.
  • Uptake in the adoption of IoT. Compute costs are down as smartphones are more prominent and driving economies of scale.
  • The story of IoT over the past year has two faces. On one side, there has been an explosion in the numbers and types of new connected devices for seemingly every conceivable use. However, on the flip side, we are just starting to see a heightened awareness of the vulnerabilities that IoT devices possess and the extreme risks that massive armies of compromised devices represent. While this represents opportunities for next-generation security companies that provide the frameworks for agentless endpoint security, there has not yet been the “wake up” call for the general public (nor the industry at large) as to the dangers inherent in the deployment of billions of unsecured, web-connected computing devices.
  • Cloud providers are offering IoT solutions.
  • As companies see use cases they are becoming more receptive to data-based IoT solutions. 

Real-Time

  • Developing a taxonomy of IoT with real-time streaming of data versus offline to impact business processes. Leverage AI/ML at scale. Training model acceleration with more data.
  • Companies are demanding real-time data from the edge to make informed business decisions and deliver better customer experiences.
  • The primary factors driving change for IoT are price and speed. IoT sensors are dropping in price, making their capabilities more readily available. Connectivity and storage are also becoming cheaper as wireless connectivity can handle 5G data transfers. Further, video can now become a key sensor with camera prices falling and quality of video/audio improving. Finally, the breakthroughs in AI/ML are enabling powerful cross-sensor analytics.

Other

  • Figure out the business model. Focus on the ROI of your investment over three to four years. How do we get compensated for the value we are providing? Are we providing additional value to the customer?
  • Voice is becoming more important. Digital transformation with a voice strategy.
  • Tech and infrastructure are getting standardized protocols as mobile protocols have matured. There’s greater awareness at the consumer level and at the retail channel. This is a function of voice interfaces from Amazon and Google.
  • We use very shallow definitions of “IoT” and “smart.” The products are actually very shallow in terms of the value they provide relative to their potential. Recommendation engines on how to be healthy relative to what you are doing now.
  • Complexity and specialization by vertical. 1) Mergers and acquisitions are accelerating (e.g. Jasper/Cisco). 2) Companies are repositioning to support IoT ecosystems. Focusing on software on IoT devices for billing and edge computing. 3) IoT value – adding solutions from public cloud providers with solutions and data management, software leaders now have IoT focused strategies, non-traditional vertical-specific players have entered the markets.
  • It’s been more gradual. Two years ago, there was a lot of hype around IoT without knowing what it means. Now it has been clarified and boiled down to any type of connected device – wearables, cars, industrial automation fulfilling a specific problem in a large network.
  • There have been three inflection points: 1) MapReduce by Google popularized by Hadoop extracted IoT data in applications and let users do something with it. 2) invention of Spark. MapReduce was an abstraction. Spark made sense to developers. 3) Democratizing data beyond computer scientists. Go from usable by computer scientists to IT people who can power apps with SQL.

Here’s who we spoke to:

Topics:
iot ,iiot ,iot security ,iot adoption

Opinions expressed by DZone contributors are their own.

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