The adoption of Internet of Things (IoT) systems for business continues to rise. In a recent study of manufacturing, transportation, and oil and gas organizations, 86% say that they are adopting IoT solutions, and 84% believe they are very and extremely effective. (Hedge, 2017) In this article, we take a look at some of these IoT growth trends, and what is driving them.
According to a recent Technavio report, the industrial wearables market is forecast to grow over 10% through 2021. (Burns, 2017) What is driving this growth? There are three trends that we see:
- Digitalization and automation
- A focus on workplace safety and efficiency
- Growing adoption of smart sensors
One interesting example of an industrial wearable is smart glasses. Smart glasses allow an industrial worker to see not just the physical plant, but also computer generated images and sound over the plant. Imagine looking at machinery and seeing the placement and operational status of every sensor. This type of Industrial Internet of Things (IIoT) device eliminates the need for workers to carry additional electronics such as tablets and cameras.
Another recent study of IT professionals found that 77% of companies that have invested in IoT systems have adopted IoT security services, which is another of the IoT growth trends we’re seeing. (Reisinger, 2017) In fact, the top three reasons these IT professionals say they have invested in IoT solutions include:
- An opportunity to boost security
- Improve operational processes
- Reduce costs
Given the fact that IoT security is such a pressing issue, it is interesting that IT professionals see IoT systems as an opportunity to boost security. Perhaps the increased focus on IoT security enables IT professionals to bring a renewed focus on many security practices within the organization, and are the driving force behind this as one of the IoT growth trends.
In the industrial sphere, however, 90% of IIoT adopters say that the primary reason that they have adopted IIoT solutions is device health. IIoT devices enable industrial users to monitor and greatly improve the efficiency of their operations. In fact 73% plan to increase their investment in the IoT over the next 12 months.
Several of these studies note, however, that there is still opportunity to make greater investments in deep data analytics. Beyond the efficiencies generated by IoT devices, a great deal of data is also created. By investing in the artificial intelligence/deep learning systems that can make intelligent use of this data, organizations can experience even greater rewards from their investment in the internet of things.
Would you like to learn more about the Internet of Things? Check out the IEEE Guide to the Internet of Things. This 8-course online learning program will help you learn the foundations of the Internet of Things, and help you get started in this growing field.
Reisinger, D. (2017, 13 Nov.) Study Finds Internet of Things Will Continue Rapid Growth Rate in 2018. eWeek.
Hedge, Z. (2017, 13 Nov.) New Research Shows Industrial Organisations Increasingly Focused on IoT Adoption, but Most are Still in Early Stages. IoTNow.
Burns, M. (2017, 11 Nov.) IoT-enabled Industrial Wearables Market – Drivers and Forecasts by Technavio. The Daily Telescope.