The Internet of Things (IoT) has become a rage in the technical world in no time. Within a short span, most business redefined their modus operandi and the very process of communication with one another was changed. Customers and businesses are accepting the change this technology is bringing on all global commerce and lifestyle aspects. If you are wondering how IoT will change the world in 2018, you have landed yourself on just the right post. Will the craze over IoT redefine our standards of living or will it turn into a mere fad? Here is our answer, we have listed out the top 5 trends that might redefine the world of 2018.
- The number of IoT devices will increase exponentially
IHS and has predicted that most of the available devices in the coming years will be inter- connected. BI Intelligence’s report suggests that close to $6 trillion would be spent on IoT solutions over the next 5 years.
With the number of smartphones, tablets and other gadgets which use the internet, the scope of the internet is only going to increase by leaps and bounds. If reports are to be believed, sensor embedded devices would be the call of the hours in the year 2018.
- The retail industry will go through a complete makeover.
With customers and business owners relying on the sudden increase in the use of sensors and data that is driven by IoT, this year is expected to witness a complete revamp of the retail industry.Some of the biggest tech giants in the market, are spending a substantial amount on sensor-based analytics. This would help the firms in tracking the area of their stores are the most crowded. A popular report by CBInsights’s report states that, with IoT in play, it would become easier in tracking theft reports and reaching out to customers in more creative way.
- IoT is the need of the hour in the healthcare marketIoT is expected to play a major role in how the people would make payments to the healthcare department. The huge boom in the department of wearable technology is fuelled by the need of many patients who need constant supervision such as a timely reminder to take their medicines etc. In 2018, IoT in the healthcare sector is expected to have an exponential increase.
- Network security challenges
While the above few listed trends were on a positive vein, network security would become a challenge for the IT security experts. Hackers and other malevolent players in the market, could make use of IoT to negatively impact the network security. For example, the incident in 2016 a huge part of the internet was crippled since, the hacker managed to misuse the characteristics of IoT.
- Greater investment in startups
Investors are readily investing in start-ups that are based on the foundation of IoT and 2018, will only see this number increasing exponentially. As per a reliable survey, a shocking 28% of entrepreneurs planned to take up IoT businesses in the near future. The transportation, utilities, manufacturing and mining industries are all expected to invest a huge sum of their revenue in the year 2018.2018 is going to be a big year for the IoT industry and this year unimaginable heights are expected to be touched upon and achieved. To learn more about the IoT app and web development, you could reach out to us and we will be happy to help you build on your next idea.