Top IoT Trends to Expect in 2019
The internet of things is redefining consumer experience, and more companies are investing in it to meet the demands of their clients. And it looks like soon, anything that can be connected will be connected: According to analysis from IHS Markit, the number of connected devices worldwide will increase 12 percent on average annually, potentially reaching 125 billion in 2030.
As we look ahead to next year, here are some of the top IoT trends to expect in 2019.
AI and Machine Learning
The IoT, AI, and machine learning are more intertwined than you think. For instance, AI can predict when machinery needs replacing, demand response, and facilitate self-optimizing production, giving humans more time to handle other issues.
The massive amount of data being shared by connected devices will be too much for humans to analyze, so AI and machine learning also will help process all that information.
With the massive amount of data generated from smart devices, businesses are looking to implement technologies that can help them make sense of that data. While big data has been around for several years, it should get more attention in 2019 as companies strive to acquire new data infrastructure.
Cryptocurrencies went viral in 2017, and blockchain—the technology that underpins it—has even further potential. The blockchain is a decentralized digital ledger where records, once imprinted, cannot be undone. It’s not controlled by any one party and has no single point of failure, which offers better security and efficiency, especially in the supply chain.
Together with the IoT, blockchain will help streamline businesses by connecting them directly to customers (B2C) or other businesses (B2B) through smart contracts, thereby saving costs that could have been pocketed by middlemen.
Many companies rely on cloud computing to store their data, but costs for premium services can be significant, and cloud storage crunches a lot of bandwidth while accessing data. That’s not the case with edge computing, where a network stores data in microcenters for processing. Part of the data is stored locally right next to the IoT device, while the rest is uploaded to the cloud.
Because data is readily available when needed—unlike on cloud servers, where you have to redownload it—traffic on the network is reduced and bandwidth costs are minimized.
Digital twin technology, also known as a hybrid twin or virtual prototyping, is a virtual copy of the real-world product, asset, processes, or systems that can be used for a certain purpose. As a simulation tool that works together with AI, machine learning, and the IoT, digital twins are set to improve how industries work by streamlining digital data operations.
There are many sides to the internet of things, and as 2018 ventures into the sunset, it’s becoming clear that the IoT will become the main driver of everything digital. If you haven’t taken a look at this technology yet, consider how you could take advantage of it next year.