In my previous blog post, I discussed how IoT describes a world in which more and more devices are sensor-enabled, connected, and able to share information about their current state and the environment in which they operate. That world is already upon us.
However, what does the future of IoT look like? We recently released our IoT 2020 Business Report, outlining our five predictions for how large organizations will leverage IoT technologies as a serious business tool:
(1) IoT will trigger the next wave of enterprise digital transformation, unifying the worlds of OT and IT and fueling a mobile and digitally enabled workforce: More affordable “connected” sensors, embedded intelligence and control, faster and more ubiquitous communications networks, cloud infrastructure, and advanced data-analytics capabilities will enable this development.
(2) IoT will translate previously untapped data into insights that enable enterprises to take the customer experience to the next level: Access to data and the ability to translate it into actionable insights – the hallmark of IoT – will deliver greater customer-service transformation and new opportunities to build brand/service loyalty and satisfaction.
(3) IoT will promote an open, interoperable and hybrid computing approach, and it will foster industry and government collaboration on global architecture standards that address cybersecurity concerns: While cloud-based IoT solutions will grow in popularity, no single computing architecture will monopolize their delivery. Instead, IoT will flourish across systems, both at the edge and on premise, as part of private cloud or public cloud offerings.
(4) IoT will function as a source of innovation, business model disruption and economic growth for businesses, governments and emerging economies: Just as the Industrial Revolution, birth of the Internet and mobile revolution have driven advancement, innovation, and prosperity, so will IoT. In particular, emerging economies will have a significant opportunity to quickly leverage IoT without the constraint of legacy infrastructure, essentially leapfrogging old ways.
(5) IoT solutions will be leveraged to address major societal and environmental issues: IoT will help countries respond to the biggest challenges facing our planet, including global warming, water scarcity and pollution. In fact, survey respondents identified improved resource utilization as the number one benefit of IoT to society as a whole.
Check out the Schneider Electric IoT 2020 Business Report for details.
The year I spoke at the IoT Solution World Congress 25th-27th Oct. 2016 in Barcelona, Spain and discussed “Leading in IoT with Innovation at Every Level.” Feel free to watch my presentation below, or visit our Innovation at Every Level webpage.