January 4, 2018

CEO Corner: What will happen in 2018 for IoT?

It’s the start of a new year, and while everyone has reflected on 2017, emphasis is on making an even bigger impact in 2018 for the whole IoT ecosystem: IoT platforms, certificate authorities, device OEMs, IoT gateways, system integrators and ISVs.

The IoT market is continuing to grow with the install base of IoT devices set to reach over 30 billion by 2020 (according to IHS) and this brings a wealth of benefits and challenges.

But how will this affect what will happen in 2018? Read on…

IoT Moves from Experimentation to Business Scale

Forrester Research predicts that the IoT will be the backbone of future customer value, there will be a significant shift to the edge, with an increase in specialized IoT platforms, developers will have an impact on platforms and creativities, and security will remain a key concern.

The IoT is maturing and not everyone is ‘stuck’ in the experimentation stage. Businesses have deployed IoT projects and are seeing the operational value and customer satisfaction.

Industry or vertical specific strategy

With the maturity of IoT, developers and manufacturers are shifting from general IoT strategies to industry or vertical specific ones to meet business and consumer needs. We’re already aware of the Industrial IoT (IIOT), which includes smart manufacturing and connected smart factories where the intersection of people, data and intelligent machines have impacts on the productivity, efficiency and operations of industries globally.  We expect to see more focused IoT offerings for Medical / Healthcare, Transport, Energy and Utilities.

Government policy forces action

With the EU GDPR coming into force on May 25th, 2018, the idea of ‘privacy by design’ is a common buzz phrase. In our conversations, IoT businesses have been considering the impact of this regulation – and IoT security more generally – for some time now, but as the date gets closer, no business can ignore it.

If you’re still working out how to protect data from IoT devices and applications to comply with GDPR, speak to us today or join our webinar with international law firm Cooley to learn more.

IoT turning up in the Enterprise

2018 introduces the ‘IoT-ification’ of current technology, with improved analytics and security advances.

2018 is the year that IoT shakes up the enterprise world, according to Christian Renaud, director of 451 Research’s IoT practice. This will support many Enterprises to seek secure solutions from the IoT industry, and consequently vendors will need to evolve their IoT offerings to solve this IoT and Enterprise convergence challenge. Devices are NOT users (people), and IoT requires automation at scale without human intervention.

It’s proven that the IoT is transforming the business world across many industries — from giving companies the ability to track systems remotely, to providing doctors with patient data in real time, to automating building maintenance systems and more. As the technology has advanced, adoption among businesses has grown dramatically. According to Gartner, 8.4 billion connected things will be in use by the end of the year. It’s an indication that enterprises around the world are identifying IoT’s potential to provide data insights, improved customer satisfaction and engagement, and ultimately drive business growth.

Security remains a top concern – and businesses are taking action

As with any new technology, security remains a top concern when it comes to IoT. However, businesses with large IoT implementations are becoming more confident, given the improvements in expertise, resources and technology necessary to tackle security concerns.

As IoT devices and platforms continue to play a critical role in business and daily life, it’s essential that smart device manufacturers and applications enablement platforms (AEP) actively improve security in their design and deployment processes. We’ll continue to see more IoT related attacks in 2018, and watch how governments and manufacturers continue to evolve their response to ensure security is planned (and designed) from the beginning, and not an unsecure after thought.

Either way, the recently named Innovator for Access Control in IoT, KeyScaler software platform from Device Authority can easily be deployed to help solve the IoT security problem.

Interested in digging deeper into IoT in 2018? We’ve scheduled a series of webinars, please sign up to learn more.

Darron Antill