Industry Specific Insights

What is the current state of IoT and where does it fit in with businesses?

Ryan Chan

IoT is one of the transformational trends that will shape the future of businesses in 2017 and beyond. Many firms see big opportunity in IoT uses and enterprises start to believe that IoT holds the promise to enhance customer relationships and drive business growth by improving quality, productivity, and reliability on one side, and on the other side reducing costs, risk, and theft.

By having the right IoT model companies will be rewarded with new customers, better insights, and improved customer satisfaction to mention few benefits.

With all this in mind, team IQVIS has observed some trends of IoT impacting business and technology in 2017:

1. IoT and Blockchain Will Converge

Blockchain is more than a concept now and has applications in many verticals besides FinTech including IoT. IT is considered by many experts as the missing link to settle scalability, privacy, and reliability concerns in the Internet of Things.

In 2017 IoT will converge with Blockchain for better security and privacy opening the door for a new category in applications, hardware, and talents.

2. IoT Devices and More DDoS Attacks

Forrester thinks that the recent DDoS attack that hit a whopping 1600 websites in the United States was just the tip of the iceberg when it comes to the threat that the connected device poses to the world.

All indications suggest that countless Internet of Things (IoT) devices that power everyday technology like closed-circuit cameras and smart-home devices were hijacked by the malware, and used against the servers.

3. IoT and Many Mobile Moments

IoT is creating new opportunities and providing a competitive advantage for businesses in current and new markets. It touches everything—not just the data, but how, when, where and why you collect it.

More mobile moments (the moments in which a person pulls out a mobile device to get what he or she wants, immediately and in context) will appear on the connected device, right from home appliances to cars to smart watches and virtual assistants.

All these connected devices will have the potential of offering a rich stream of data that will then be used by product and service owners to interact with their consumers.

4. IoT, Artificial Intelligence and Containers

The year 2017 would see Internet of Things software being distributed across cloud services, edge devices, and gateways.

The year would also witness IoT solutions being built on modern Micro services (an approach to application development in which a large application is built as a suite of modular services

5. IoT and Connectivity

In 2017, new forms of wireless connections, such as 3GPP’s narrowband (NB)-IoT, LoRaWAN, or Sigfox will be tested.

Forcing IoT decision-makers to evaluate more than 20 wireless connectivity options and protocols, which is one step in the right direction of having standards for connectivity.

Looking for a way to converge IoT and the state of your business’s operations and workflow? Learn more about UpKeep’s smart monitoring solution!

This was originally answered by Lisa Jacob on Quora


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