By 2020, there will be about 31 billion IoT devices in the world. With the massive amount of data generated from smart devices, businesses are looking to implement technologies that can help them make sense of that data. With improved processing power that can increase machine learning productivity, digital leaders will go for machine learning and AI to make more of their data.
The shift from centralized cloud to edge architectures will also intensify in the IoT space shortly. Edge computing is the type of structure where a network stores data in micro-centers for processing, and it offers a cheaper and often a more effective solution for data handling. Part of the data is stored locally next to the corresponding IoT device that makes it readily available when needed. In this way, the traffic on the network is reduced, and bandwidth costs are minimized. Blockchain, as one of the essential IoT technology trends, is highly crucial for proper data-keeping and safeguarding. Through the use of blockchain, data from potentially unsecured devices can be held to a high degree of accuracy. Blockchain works as a digital ledger for recorded information and distributes the data throughout devices connected to the chain, making a malicious or accidental modification of data impossible. Utilizing this method, data acquired from blockchain IoT devices can be seen as reliable and secure.
The forward-thinking cities will invest in pioneering data exchanges which will afford the access and the combination of the data between the private and public organization along with the citizens. The IoT integration with the responsive cities will lessen traffic congestion, unlock sustainable development, and improve safety. The concepts of smart home and smart offices will be prevalent in the upcoming days. From cleaning floors to acting as a security guard, IoT devices will be continuing to grow and provide incredible results.
The retail industry will be changing its whole way of doing business. IoT devices can help retail owners and employees, lessen inventory errors, and optimize supply chain management. The IoT is a very broad-based technology, transforming all business sectors, from consumer devices to large-scale manufacturing. As IoT matures, a wide range of social, legal, and ethical issues will grow in importance. To be successful, an IoT solution shall be not only technically competent but also socially acceptable. These include ownership of data and the deductions made from it, algorithmic bias, privacy, and compliance with regulations such as the General Data Protection Regulation (GDPR).
Regardless of how the company is big or small, all the companies should start thinking about the much needed IoT Integration to have more consumers and better business. This edition of CIO Applications features companies that are at the forefront of offering IoT solutions. To assist CIOs in identifying the most reliable companies to partner with, a distinguished panel consisting of CEOs, CIOs, analysts, and CIO Applications’ editorial board has assessed and shortlisted some of the most prominent organizations in the industry. We present to you – “Top 25 IoT Solution Providers – 2019”
