The internet of things has grown from strength to strength in the past couple of years.
However, in our opinion it is only getting started, and 2019 will be the biggest year in the industry yet.
Here’s our look at some of the major trends and changes you can expect to see in the IoT in 2019.
Smart devices will grow in number
It took time, but devices like Amazon’s Echo and Google Home are reaching a tipping point for mainstream adoption.
Indeed, figures show that by 2020, the consumer electronics industry is expected to reach more than 2 trillion dollars – double its value since 2014.
Business Insider, meanwhile, estimates that more than 24 billion internet connected devices will be installed by 2020 – that’s four for every person on the planet!
To ignore the Internet of Things at this point is to ignore millions in potential revenue, as well as a huge audience share.
Healthcare will continue to adopt the technology
As one of the biggest industries in the USA, healthcare is a key market to the IoT in terms of reaching mainstream adoption.
And, according to the statistics, that’s happening.
Research from Frost and Sullivan shows that that the use of IoT hardware and software in healthcare could become a $72 billion industry by as early as 2021.
What’s more, researchers believe that by the end of 2019, as many as 87% of all healthcare organizations will have adopted the IoT in some capacity.
As such, you can expect to see IoT technology more and more frequently in 2019, whether through medical monitoring devices, or simply apps that allow customers to communicate with their healthcare providers more effectively.
Security will be a more mainstream discussion
It’s an unfortunate fact that whenever technology reaches widespread adoption, there will be criminals that try to exploit vulnerabilities.
That’s why the amount of money lost to cyber criminals each year continues to grow – indeed, some figures estimate that more than a trillion dollars was stolen around the world in 2018. IoT compromises increased by 600% since 2017 according to IBM – though, of course, this is also a natural progression due to the fact that there are simply far more devices now.
In 2019, then, you can expect security to become a major topic of discussion. Indeed, the National Cybersecurity Center of Excellence (NCCoE) recently announced a major security research project with ForeScout Technologies, Inc, a major IoT security company.
As with all ‘smart’ devices, IoT hardware and software will need to keep a record of customer data in order to work properly. As such, manufacturers will need to spend a lot of time and resources in order to ensure customer data and privacy is as safe as possible.
Manufacturing and industrial industries will also increase take-up
The IoT is driving transformation in a number of different industries. Healthcare, as we mentioned, but also retail and – interestingly – manufacturing.
Now, when you mention the IoT, you’re far more likely to think about smartphones, or home devices. Manufacturing isn’t a ‘glamorous’ industry, and as such it doesn’t get as much attention with regards to digital change.
However, we’re expecting that to change over the next year, simple because more and more large-scale industry manufacturers are likely to adopt the technology. Some market analysts have predicted that the number of connected devices in the sector will have doubled between 2017 and 2020.
By combining stock management software and hardware such as sensors and beacons, manufacturing companies can improve their product performance, minimize delays, reduce equipment downtime and more effectively manage their inventory.
In more simple terms: manufacturing companies will be able to save money without it negatively affecting their rate of production.
Expect more light to be thrown on IoT within the manufacturing industry in 2019.
We’ll begin to see more ‘smart’ areas around major cities
The idea of a ‘smart city’ is one that’s been talked about since the very early days of the IoT. He idea of being able to track things like sewage flow, road traffic or state maintenance work is a compelling one. Like many industries, the potential for saving money through the IoT is huge.
However, uptake has been slower than many people thought. However, the signs are now emerging that this will change over the next year or so.
For instance, in Toronto, Sidewalk Labs (an Alphabet/Google company) is already working on a so-called ‘smart neighborhood’ through the use of sensors capable of recording everything from shared car use through to housing occupancy.
Just how fast their work will progress remains to be seen – it could end up being a slow process, in the same way as driverless cars have been – but we expect some movement in 2019.
And, talking of road networks…
Connected smart cars will become more and more common
Vehicle manufacturing was one of the first markets to truly cotton onto the potential for IoT integration: integrated GPS, for instance, has now been fairly standard in cars for nearly a decade.
However, we’re expected to see IoT technology not only used for luxury driver features over the next couple of years, but also for diagnostics.
The ability for the driver to get immediate notification of any potential issues with the vehicle – from tires being too worn down to there being braking issues – could legitimately save lives. And, of course, if the driver is told the real problem by the car itself, there is less chance of mechanics taking advantage of drivers will less experience!
In 2019, it’s possible there will be some serious leaps forward for smart vehicles in diagnostic terms, plus the continued progression of luxury features such as traffic information, voice search and connected apps.
Marketing companies will take advantage
It’s only a matter of time on any platform before marketers realize that there is an untapped audience waiting to be sold to. As such, marketing on IoT devices is almost certain to increase in 2019.
In our opinion, you can expect a substantial increase in promotional content on home devices. Why the sharp rise? Because, simply, the advertisers that move first on a particular space are often the ones that grow to dominate: first mover advantage is standard in online marketing.
A number of major businesses are already beginning to explore the possibilities. General motors, as an example, have installed a marketplace in some of their cars and allowed Starbucks to offer an ordering service to drivers.
Another great example is the deal struck between Spotify and Uber, who’ve joined forces to offer their riders the chance to enjoy a more cohesive experience.
How will this progress specifically? The truth is that in marketing, you can never be quite sure. It’s possible that direct audible adverts – no different to radio promotion campaigns – will become a regular part of Google Home or Amazon Echo, just as they are on Spotify free or YouTube.
However, the marketing industry starts to take advantage of the IoT, though, you can expect them to ramp up their campaigns as soon as they work out the most effective method for doing so.
Get in touch today
If you want to launch an IoT app for your business in 2019, get in touch with Iconic Solutions today. We’d love to help.
