Top Trends and Predictions in the Industrial Internet MarketJanuary 19, 2017
The Internet of things (IoT) has been shown great opportunities in industrial automation. Industrial IoT, or IIoT, as it is popularly known, is basically a network of physical devices, sensors, and machines connected to the internet, all working together in helping organizations lessen the drainage of important resources by optimizing business processes, increasing machine efficiency, and improving the work environment.
Companies, both big and small, who have invested in IoT over the past year are starting to realize the increasing opportunities that IoT can provide in terms of customer relationships and business growth. This also includes machine builders, system integrators, and end-users who have started incorporating IoT into their applications.
According to a recent analysis conducted by GE and Accenture, 73 percent of the top companies across industry lines are already investing heavily on Industrial Internet of things (IIoT), putting in close to 20 percent of their overall budget in Big Data analytics. Today, it’s no more a question of whether or when IIoT will come into existence - it is already a reality.
As we move forward in 2017, it is obvious that there will be a massive influx of money into the development of IIoT, and of course, with that, there will be increased levels of challenges and complexities which have to be met. Let’s discuss the top four trends and predictions for the industrial Internet market in 2017.
Increased Focus on Use Case Development
Until now, most of the IoT hype has come from consumer segments like smart lighting, smart homes, health monitors, and other connected appliances. However, the IoT markets in 2017 will witness a broader outlook, focused on the industrial and commercial sectors where in fact the real ROI is. Surely, the trend will have a deeper focus on use case developments within industrial verticals. Formulating and sharing blueprints on solution architectures for these use cases will bolster the progress of IIoT dramatically.
Certifications Will Boost the IIoT Growth
Data integration will set the stage for industry-specific certifications, which will ensure highest standards in terms of values as well as specificities. These certifications will help nourish top talents with specific expertise and skill sets required to cover a range of platforms in the domains of security, analytics or use cases.
Artificial Intelligence (AI) Will Dominate Data Mining from IoT Devices
In the near future, AI, which has already made its presence felt in real-time decision-making, will empower itself with more natural language-based aptitudes that will help leverage the true potential of a connected world through better understanding of data descriptions coming across from various IoT devices. This universal approach will enable people to directly interact with IoT over voice or through text.
Consolidation of IoT Platforms
The IoT market is fragmented, and it's not a secret. The present scenario with over 400 platforms primitively strangulate the scope for further research and developments. The market requires consolidation so that its customers get easy access to preferred technology without getting pulled down. Consolidation of platforms feature among the top IoT trends for 2017 because of its ability to integrate new technologies on the fly.
It's no wonder that throughout 2017 there will be attempts to exploit the vulnerabilities of IoT devices. But, to prevent this, the IoT market should consolidate by default in order to address key issues like security while working on collaborative platforms.