Technology

Prevailing Trends in Internet of Things in 2017

Every user requires a single access point instead of multiple interfaces which are well connected, smart and fast. Almost every industry is investing in Internet of Things (IoT) recently.

Keeping this in view, let’s discuss 5 topmost IOT trends to watch out for in year 2017:

Application Programming Interface (API’s)

  • API’s acts as an interface and usually function to connect large amounts of relevant information with Internet of things. This makes it more useful and powerful.
  • API’s are considered as market enabler and are quintessential part of Internet of Things, without which they cannot work.
  • Multiple devices can be connected with each other, thus enabling large amount of data exposure and possibility to explore unseen dimensions via internet of things. This may even include monetizing it in future.

Internet of Things Platforms

  • Apps driven platform is getting replaced by Artificial Intelligence driven platform.
  • Good platforms provide enormous value by linking IoT to advanced analytics and applications to generate business outcomes. This enables the generated data to be meaningfully used by the users.
  • An IoT platform is required to collect data, connect devices, handle hundreds of vendors and dozens of wireless standards (like LoRa and SigFox etc.) and must be scalable enough to send messages across the network.
  • Platforms must be able and efficient enough to add close loop automation, privacy, security, cognitive and insight generation.
  • IoT can sometimes even act as an agent to transform business.

Security

  • Security is an important aspect, when everything is connected via internet. People rely on internet as it makes their lives easier and happier.
  • Application developers, device Manufacturers, operators, consumers, enterprise businesses and integrators etc all have to follow best practices to keep their data secure.
  • A multi-layered approach is required for Internet of Things security. Security approach must start with hardware devices then coming over to software / firmware.
  • A sequence of education, interoperability and decent design along with a proactive approach in designing security features is required to create better products and solutions.

Cognitive Computing

  • Internet of Things presents tremendous opportunities.
  • The commoditization of sensors, memory and processors has made things more intelligent rather than just being connected in a network and being identified with their IP addresses.
  • Traditional IoT implementations are accompanied by cognitive computing which increases the amount of data that helps in improving the learning environment and increases the possibilities of edge analytics.
  • Multiple data streams can be combined with cognitive IoT.
  • Sensors can be made capable of diagnosing and getting adapted with the environment, without human interference.
  • IoT value is further showcased by artificial intelligence, cognitive IoT and machine learning. To make use of existing IoT data and information new approaches are required.

Blockchain

Blockchain enhances data security by making seamless transactions and enhancing supply chain efficiency.

In upcoming years, companies will start leveraging blockchain in 3 different ways:

  • Reduces cost and accelerate transactions – time commitment and monetary costs can be reduced as the transactions become one to one and no sort of middlemen are involved. Various app development companies have emerged up, that help in increasing audience size within estimated budget by incorporating IOT into their businesses.
  • Builds trust – between the parties and people that transact mutually

Conclusion

IoT solutions are the major driving force behind transformation of big industries. This will enhance new business models and enable changes in work processes, enhance customer experience and cost containment.


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