2024 IoT Predictions

Welcome to the latest edition of The IoT Pulse - an exclusive collection of opinions, insights, and commentary from industry experts on key topics and questions in the world of IoT, AI, and Digital Transformation. Be sure to hit subscribe today so you don’t miss out on future editions!

As we step into 2024, the landscape of the Internet of Things (IoT) is not just evolving; it's transforming in ways that redefine how we interact with technology. In this week's edition of The IoT Pulse, we focus on the future, and what is to come in this new year.

As the new year unfolds, what groundbreaking advancements can we anticipate in IoT? How will emerging technologies integrate with IoT to create smarter solutions? And most importantly, what impact will these developments have on businesses and industries around the world?

This week, we have asked our close friends at Transforma Insights to share their perspective on what to expect early on in 2024. Throughout the year, we will be inviting other experts and analysts to share their thoughts on where we are going as an industry and what we should be on the lookout for to help IoT adoption grow!

In the comments section, please let us know what you are looking forward to or what you expect to happen in the early part of 2024!

Jim Morrish Founding Partner, Transforma Insights

The world of IoT has been a rapidly evolving story for more than a decade now but we’re not ‘there’ yet, and 2024 will bring many new developments and challenges.

IoT and data regulations will be a key theme for 2024. After a generally laissez-faire approach up until now, various regulators around the world have recently found their mojos. In the European Union (EU) in particular new regulations are envisaged that will apply to data sharing and (mandated) data portability. Meanwhile, other regulations will seek to address national resilience and data sovereignty. Recent global themes around restricting permanent roaming for cellular connections are likely to continue. Artificial Intelligence (AI) is increasingly being incorporated into IoT solutions, and so a good deal of the plethora of regulatory initiatives that have been recently launched in this area are likely to impact IoT as well. As a direct result of these diverse regulatory initiatives, the world of IoT is likely to become more geographically fragmented during 2024 and beyond.

The vendor community will continue recent trends and seek to get closer to their customers with more customized, or contextualized, propositions. The winners in this game will manage to combine the scale that derives from horizontal propositions with the value-add that can be generated by more customized propositions. A bellwether in this context has been the evolution of the IoT Application Enablement Platform (AEP) space over the last few years. Not so long ago, the AEP space was viewed as a potential hyperscale opportunity, but now any AEP looking to secure new business needs strong differentiators that play to certain vertical, or application, needs. Generic AEP propositions have been relegated to either sandbox environments or tools to support wider (customized) systems integration.

Other interesting topics to look out for include the ever-increasing range of applications for which video analytics (potentially enabled by AI) can substitute for IoT-based monitoring. And from a technology perspective, the transition to 5G will gather momentum and extend to include Non-Terrestrial Networks (NTN).

As ever, the new year is shaping up to be interesting, exciting, and most likely a little challenging already.

1. Why Does IoT Need to Be Delivered as a Managed Service? - Written by Matt Hatton of Transforma Insights
2. Turning the Network From Commodity to Differentiator for IoT?- written by Matt Hatton of Transforma Insights

Keep the conversation going! Let us know what questions or thoughts you might have on the state of IoT in 2024 in the comments below.?

Curious about how you or your company’s experts can be featured? Reach out to me at [email protected] or connect with me on LinkedIn: Ryan Chacon

Next week, we will be featuring experts from our Partner Community who will discuss how IoT is disrupting the transportation and logistics industry. So be sure to subscribe so you don’t miss it!

See you next week!