With each year, we keep hearing more and more about the Internet of Things and people are now slowly embracing this new technology. With smart devices becoming cheaper and more accessible than ever before, everyday consumers are able to experience the connected ecosystem.
However, we should not forget the fact that IoT is still a relatively new technology and there is still a long way to go for this technology. Luckily, with support from various companies and developers, we can see the general trend to where the industry is evolving. In this article, let’s review the emerging IoT trends that will become mainstream in 2019!
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1. The emergence of Smart Cities
The modern Megacities are slowly starting their transition towards smart cities, we can definitely see this becoming a trend worldwide. By incorporating IoT into cities, it gives rise to smart technology and data sharing. The result is the transformation of an urban city to a smart city.
Some countries have already set a deadline for the complete or partial conversion to smart cities. The Report by McKinsey Global Institute states that smart cities have 30-40% fewer crime rates and about 30-300 lives are saved per year.
Since the incorporation of IoT into the existing ecosystem calls for a change in infrastructure, the rate of conversion to smart cities is slow. But slowly but surely, we can see cities turning smart from 2019 and beyond!
2. The prevalence of Edge Computing
Here is something you might not be as familiar with, Edge computing. Basically, edge computing means the computing that is done at sensor levels, rather than relaying it to the central processing node. By doing so, the devices are filtering the information that is sent to the main processor and this means that there is less load on the processor, paving way for faster processing.
Edge computing will be used more and more as the number of IoT device increase. It is an essential technology that allows IoT devices to flourish since it helps devices to better use the central processing power.
3. The greater mingling of AI and IoT
AI is the foundation on which most IoT ecosystems work. The AI takes in information from the sensors and then processes it to make meaningful actions. Without a central AI, humans will have to do the work, and managing tons of data in real time is better suited for computers rather than us.
But we are nowhere near exploring the true capabilities of AI and the IoT working together. What we have now is the early setup where the AI and its capabilities are in its early stages. As we progress through 2019, we will have smarter AI and IoT devices that are more powerful than its current version.
4. Cloud: The preferred storage system of IoT
An IoT ecosystem can consist of hundreds or even thousands of sensors. And all these sensors are generating data each second. The thing about data is that it can’t be directly sent to a processing node. The data must be first stored, sent for processing, and the result must be again stored, and we can either use local storage areas for them or online storage areas.
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The problem of having a local storage system is that the storage device must work in conjunction with the other devices. So if an IoT system works 24/7, your local device will also have to work all day.
With the cloud, you are saving the data on secure storage spaces on the internet. There is no need to have a local storage system. Since most cloud storage systems are scalable, you can get more storage as you need in a few clicks! Cloud is also regarded as a facilitator for IoT.
5. More stress on security
One of the major arguments that are often said against the adoption of IoT is Security. 47% of IoT developers say that security is their greatest concern.
It is projected that about $2 trillion will be spent globally in 2019 to cover for security-related issues alone. IoT spending on security will also see an increase of $195 billion.
The reason why many are concerned with the security of IoT is that there are multiple points of failure. With more sensors or end devices, they provide an easy way into the system if they are not guarded well. So efforts are being made to ensure that the future of IoT is a safe one.
6. More IoT Devices
IoT industry is a booming one and the number of IoT startups have increased, offering innovative hardware and software solutions that make the prospect of IoT even more attractive. By having new companies on board in addition to the well-established ones, users will have more options to choose from, and this was always a welcoming change.
The number of IoT devices are projected to skyrocket in 2019, and smart home technology is considered to be its prime driver.
7. Infonomics: The Economics of Data
In 2019, we will see the information gathered from IoT will be sold as a commodity. The data collected by IoT devices can be very valuable since they contain information about a person’s buying behavior or interests. Such information can be used to sell/run adverts that have an element of customization to it.
And consumer data is just one part of it. Data from the whole ecosystem can be used to identify the market trends and industry movement.
With IoT devices becoming more common and highly capable, Infonomics will surely become more than just a concept.
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Conclusion
IoT or Internet of Things has certainly grown leaps and bounds beyond in just a few years’ time. With each year, we see the emergence of support technologies that make IoT development, adoption and implementation much easier.
In 2019 and the years to come, we can expect to see further market penetration of IoT technologies. There is no doubt that IoT is the future, and now you know the IoT trends you can expect to see in 2019 and beyond.