IoT Expansion – Future Predictions

January 29, 2020 Frank Gillett

By: Frank Gillett

Image Courtesy- Pixabay

In this article, Frank highlights about future trends in Internet of Things and how it has continued to grow and evolve in recent years.
Frank predicts that in 2020, business use of IoT will expand drastically as it has more products and business operations adopting it. Some of the top trends predicted by Forrester is as below:
1. Smart speaker displays will proliferate – In US there are already 41 million households using smart speakers. In 2020, Amazon, Baidu, and Google will drive major adoption of smart displays — smart speakers that have a phone, camera, or tablet-sized screen to enable visual responses and interactions. These devices will also play a growing role in the workplace.

2. Product OEM will be targeted by ransomware attacks – It is expected that in 2020 hackers will target the household IoT products such as home lighting or manufacturing machinery until the product maker pays a large ransom

3. Product as a Service ecosystem will launch – In 2020, it is predicted that a major consumer or B2B provider will convert from product sales to an IoT services offering, backed by partners in an ecosystem. This is because connected products create a constant communication flow between customer and product maker. They also create ongoing costs for product makers, who need to monitor experiences and send software updates. That is why OEMs are seeking new revenue sources for their connected products to offset these costs

4. Connected Trucks & Supply Chain – In the trucking sector, IoT will forge better insights into what trucks are carrying, preventing less deadheading, or trucks carrying around empty loads, Gillett said. IoT will also pave the way for increased truck driver assistance, or technology that helps truck drivers notice if they are becoming drowsy or inattentive, Gillett said.

Similarly, in Supply chain IoT devices will be used to safely operate machinery and move heavy items around on automated carts, the predictions said. In terms of the supply chain, we’ll be able to do more with less, not even just people, but energy and even less inventory.