What’s in store for IoT during 2017?
Increase in data usage
With more and more devices joining the IoT ecosystem, the internet has to deal with huge amounts of data. New jet engines produce gigabits of data per second, cameras send high-quality real-time data, and now smart cars are adding to it as well. This plethora of data needs to be compressed and/or managed in an efficient way before it enters the internet. Otherwise, this can swamp the network quickly.
This will create great opportunities for efficient management of data and it will motivate researchers to come up with novel ideas to solve this problem. This will also present business opportunities for ISPs and similar players to provide service for enterprise IoT users.
Change in current architecture – Fog Computing
Modern services that rely on IoT demand quick actions in response to an event. For example, doctors use these devices to monitor a patient’s health and they require other devices to act quickly in case a certain event happens e.g. blood pressure shoots. For such applications, the current architecture of IoT, which relies on cloud to process data and send action commands to actuators, falls short of meeting real-time demands.
Fog computing will help solve this issue as it adds a cache between sensors, actuators and cloud. It will save round-trip times and help in meeting time-sensitive demands of modern IoT applications.
Opportunity for Big Data Analytics providers
The volume of data produced by IoT devices will be extremely large. Not only will there be more data, there will be data coming from different types of sources resulting in different types of data. Big Data Analytics companies will generate huge revenues by utilizing and monetizing this data. They can use distributed analytics model to ease their process of analytics. Furthermore, IoT devices will become equipped with more processing and storage capabilities to enable local processing of data.
“Things-as-a-Service” business models
A new type of service “Things as a Service” will come to the fore as people get to learn how to virtualize IoT devices. Enterprises will provide services to consumers to use already-deployed IoT devices as per their needs. The idea is similar to “Software as a Service” where service providers own machines and consumers pay rent to use them for providing service to their customers. Similarly, this business model will let consumers use IoT devices to provide services without owning them.
Security will remain a problem
Since there will be new types of devices that will be used for new types of applications, we should expect security flaws to persist. The IoT ecosystem will present a huge attack surface that will be quite attractive to the attackers due to high incentives. We can expect formal discussions on this topic and need constant development to tackle the security threat that arises by connecting every ”thing” to the internet.