As we approach the end of the year, analyst firms, technology vendors, and industry experts alike are sharing their predictions for what 2019 will bring. Greater proliferation of the Internet of Things (IoT) will invariably be on every list in some fashion, but what exactly can we expect from the technology next year and in the years that follow?
According to a recent Forbes piece, IoT will have the greatest impact on business in the next five years with 60 percent of respondents in a recent survey ranking IoT ahead of both cloud and AI. This finding is echoed by Business Insider’s Internet of Things Report, which projects there will be more than 55 billion IoT devices by 2025, up from approximately 9 billion in 2017.
Commerce is one area primed to see substantial transformation as IoT technology matures. In the future, expect IoT to provide intelligence at the edge with enhanced visibility across the fulfillment process that allows retailers to track an order from the second it is placed until it’s in the customer’s hands. There is also the potential for brands to deepen customer relationships by leveraging connected data to offer new services — for example, predictive maintenance or performance analytics.
In order to capitalize on these and other opportunities inherent in IoT, organizations need a solid data science strategy in place and the ability to turn information into actionable analytics. As Danny Bradbury wrote in a recent Register article, “Traditional analytics systems built for batch or time-sharing operations are inadequate for up-to-the-second data. Real-time analytics demands new workflows and tooling.”
As such, anticipate more companies investing in analytics platforms to help them take advantage of all IoT has to offer.
For more thoughts on the future of IoT check out these predictions from Forrester.