There is no indication that the Internet of Things is slowing down in growth anytime soon. In fact, it’s just the opposite as current projections estimate that the global community will spend over $1 trillion on the Internet of Things by the end of 2020. With increased interest, usage, and spending in the coming year, what can we expect from the IoT in 2019?
- A Growth in Data and Devices – There will be nearly 3.6 billion Internet of Things devices connected to the Internet and used for everyday tasks by the end of 2018 alone. As 5G networks grow and become the norm, more devices will be able to connect and produce more data traffic. With the addition of edge computing to these systems, businesses will be able to process data faster than ever before.
- Regulation –2019 will be the year of regulation when it comes to the IoT as legislation is introduced and passed into law. We will see further crackdown of GDPR regulations globally by the EU and federal bills drafted to address US federal privacy rules. In addition, states and federal legislatures will follow California’s SB-327 cybersecurity for devices laws affecting manufacturers of devices.
- Standardization – As we explained in our previous blog (INCLUDE LINK TO BLOG 6), new standards such as ISO/IEC 30141:2018 will provide the much-needed guidance for industry to be able to implement IoT architecture. These standards will also provide a framework for consistency of IoT terminology and standards across industries, vendors, and within organizations.
- Spending Increases – IoT is one of the few markets that have the interest of both emerging and traditional venture capitalists. Internet of Things startups will be motivated by the spread of smart devices and increased dependency of consumers in their everyday lives. This then means that there will be a continued fight for the next big innovation in these technologies – and much more spending.
- Artificial Intelligence Integration – It is expected that artificial intelligence and the Internet of Things will truly converge next year to help businesses make sense of the vast amounts of data that are collected by IoT devices. From data discovery and visualization to predictive analytics, businesses will be able to take advantage of their information in ways that were simple not possible before.
- Digital Transformation – As a driver of digital transformation in many industries, IoT devices such as smart beacons, sensors, and RFID tags have already started what is being dubbed the “Fourth Industrial Revolution.” These devices have already and will continue to give businesses the ability to collect, analyze, and use data from their day-to-day operations and will continue to do so in the coming year.
- Cybersecurity – As the enormous amounts of information collected by the Internet of Things increases, so will the number of cyber threats and cybercriminals. Businesses will face an exponential increase in interest by hackers as they further implement the IoT into their business operations. In addition to data breaches, ransomware attacks are expected to be a frequent threat.
- Skills Shortage – Although investments in the IoT are expected to hit the trillions in just a few short years, the lack of skills may actually inhibit this growth. Businesses are struggling to hire and develop Internet of Things experts in 2018 even though the demand for professionals in this field has increased by over 35%. As businesses continue to look for ways to implement these systems and make use of them, the demand for trained IoT professionals will only go up.
It is safe to say that this “technology of the future” is finally here, but are businesses really prepared for what’s to come from the IoT in 2019?
At CertNexus, we developed our Certified Internet of Things Practitioner certification to give individuals the skills that they need to implement and manage an IoT ecosystem in their own business. Are you ready to empower your employees with training in 2019? Contact us today to find out more about our CIoTP certification!