How IoT Functions and Key Trend for 2017

IoT is actually a combination of intelligent device, empowering network & connectivity, data analytics, consuming users, and vendor groups. In between, IoT apps or controllers and billing & settlement plays the key role. Most notably, device generated actions actually generate data & information that connectivity network enables to see or control by end user segments (can be autonomous machine itself or human). These data & information goes to big data storage for analysis purpose that is being done by analytics software. The different groups of vendors create the IoT infrastructure to perform in this connected paradigm. The end user revenue is being generated either by group billing that is shared among respective vendors or connectivity billing shared by different network enablers. Apart from this commonly used revenue method, IoT market is also experiencing new types of hybrid model, in fact the industry is still exploring. The attached diagram can give a good idea over how IoT system functions. The functional digram clearly indicates some key trend for 2017 that are mentioned below:

IoT Component will Grow Exponentially

IoT sensors and semiconductor adoption will grow exponentially in 2017 as the mass adoption starts across the globe. IoT connected sensors and devices are expected to outperform mobile phones in 2018 growing at 17.4% during 2017 – 2022.

Edge Devices and Analytics will play Critical Role

Edge computing will be a common practice for IoT adoption scenario as IoT devices will generate massive amount of data to make traditional network unstable.

Network and Connectivity will be a Tough Choice

Since IoT in real life user case demands high level of precision in latency, communication, and execution, therefore communication network will play the key role. Telco battle will be between extending NB-IoT and LTE-M capacity and other providers will fight over LPWAN technologies including LoRa, Ingenu, and Sigfox.

Regulatory and Standardization Effort will Start Shaping the IoT Market

2016 brought little closer to the goal of IoT standards interoperability process following merger of OIC and the Allseen Alliance into the Open Connectivity Foundation, and ZigBee, Thread Group & Z-wave to explore cohesive and simpler solutions. This movement will accelerate the goal of IoT standardization throughout 2017 despite of current fragmentation.

Security and Privacy will have High Concern

Some recent IoT hacks shows that IoT devices like IP camera, Routers etc. are in some cases poorly protected from threats that were usually considered as obsolete on PC and mobile environment. Energy and transportation are seeming to be more vulnerable IoT areas in 2017.

Smart City and Smart Home will Spike the IoT Growth

The awareness of smart city and smart home has recently come to the attention of city residents inviting them to thrive mass adoption. Some areas will experience high trajectory of growth such as safety with smart lighting, convenience with transportation & parking, cost savings with smart meters, on-demand trash pickup, and many more similar technologies.

My research titled “IoT Market by Infrastructure (Platforms, Hardware, and Software), Applications in Industry Verticals, Devices, and Sensors 2017 – 2022” evaluates the current state of IoT globally and regionally, assesses market needs, and analyses companies and solutions in the best position to capitalize. The report provides economic impact analysis and assesses the market potential for IoT infrastructure, devices, and sensors. The report also forecasts IoT applications across leading industry verticals.

Report Benefits:

• Understand the current state of IoT globally and regionally
• Understand the IoT component and equipment ecosystem
• Identify leading IoT vendors in platforms, software, and services
• Understand the role and importance of IoT components to IoT operations
• Forecasts for IoT solutions, devices, sensors and market dynamics by region
• Forecasts for global IoT solutions, apps, infrastructure, and industry verticals
• Identify leading companies and solutions in enterprise, industrial, and consumer IoT