Frost & Sullivan highlights 5 IoT growth areas for 2017
It’s May already, and analysts have begun thinking ahead and considering how the rest of this year is likely to shape up in terms of IoT growth. IoT cybersecurity is on everyone’s mind. The Frost & Sullivan report, European Internet of Things Market Outlook 2017, published this week, predicts that the next evolution in IoT will be ‘sentient tools’ and ‘cognitionor predictive computing.’
What the company’s analysts mean by this, it seems, is that we’ll see a shift from humans being able to use IoT data in order to react to events to IoT environments that are more readily able to detect and respond to events without the need for human intervention.
This seems ambitious, given the current state of things, but Frost & Sullivan’s analysts helpfully point to some recent developments that suggest things are indeed headed that way.
For a start, there’s the commercialization of narrowband IoT (NB-IoT). “This cellular communications technology users licensed spectrum and offers a standardized low-power, wide-area network (LPWAN) that can capture previously untapped segments of the market,” they say.
Then, there is the increasing use of machine learning and blockchain technologies, particularly in industries such as financial services and energy. In addition, there are new, dedicated venture funds for IoT development popping up across Europe, they add, that “will help create an ecosystem that is conducive to the growth of start-ups in the region.”
Frost & Sullivan research analyst Yiru Zhong then points to five emerging growth areas for IoT in 2017, all of which we at Internet of Business are seeing, too, and following closely. These are:
- Platform plays: market launches of new or revamped platform plays for connectivity, service, and application enablement are continuing.
- LPWAN: With NB-IoT, companies are offering connected service in any form will now have more concrete low-power connectivity options to test and deploy suitable new applications from 2017 onwards.
- Industry vendor convergence: Tier 2 industrial vendor M&A activities will persist, while established conglomerate giants add digital technologies to their portfolios.
- Cybersecurity in IoT: Focus will be on enabling multi-layered security approaches, while addressing individual behavior risks to IoT systems.
- Consumer IoT- More proof of concepts and provision of discounts or subsidies will encourage consumers to discover, experiment and experience connected IoT applications.
If you have any questions or comments please don’t hesitate to get in touch. Contact Securolytics now. What better time than now to get started on securing your business from IoT breaches. Our global team is ready to assist you. We are all motivated by one overriding purpose- to keep organizations and businesses out of harm’s way from cyber criminals and sophisticated hackers.