With the increasing growth of IoT (Internet of Things) technology, it’s important for CIOs and their organizations to successfully maneuver the IoT ecosystem to ensure the business runs more smoothly. Forrester released a report that outlines 5 IoT predictions for 2020.
1: IoT architects will integrate 5G into new designs, but not as a LoWPAN replacement – Before 5G capabilities, IoT devices primarily used LoWPAN technologies to transmit data. However, as 5G becomes more popular, it augments LoWPAN rather than replace it. Industries will still use LoWPAN technology but also use 5G solutions to backhaul information.
2: Consumers will embrace smart speaker displays, driving the rise of multimodal design – The smart speaker display category is expected to continue booming in 2020 with an expansion that capitalizes on enterprise device adoption. It will switch to a multimodal design smarter than ever before, allowing leading smart display developers to create situationally adaptive software. As smart displays proliferate, they will continue to become more intelligent.
3: Cybercriminals will target an IoT device for ransom – from the device manufacturer – As IoT continues to expand, it creates more threat vectors for cybercriminals to exploit. It is anticipated that attackers will target both consumer and enterprise devices, exploiting both the regular customers and device manufacturers. Designers will need to work closely with security teams to develop ways to mitigate this threat, and companies need to develop an effective crisis plan in the event they are targeted.
4: Connected trucks will use IoT to catalyze logistics and supply chain transformation – IoT will create more efficient logistics in trucking and more effective supply chains. It will provide more insight as to what the trucks are carrying, preventing deadheading or bobtailing. It will also provide truck driver assistance and alert truck drivers if they are becoming drowsy or inattentive.
5: A major vendors shift will occur from connected products to a connected services ecosystem – Large companies offering connected products will start to convert to services built on an IoT data system. These companies span both consumer products and B2B organizations. For example, Apple and Amazon offer connected devices and services, so it is anticipated they’ll eventually introduce bundled premium plans.
With IoT evolving at a rapid pace, understanding your IT needs, IT consumption, total resources, and business-level available investments are important factors in navigating the IoT ecosystem and driving overall company results. Proven Optics can help build and implement a Technology Business Management (TBM) methodology the entire organization can use to understand and manage the ROI of potential IT investments as new devices emerge. Build your IT Value Story™ today.
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