Ovum, the market-leading research and consulting firm, in partnership with Internet of Things World 2017, today announces the five key trends to watch in the Internet of Things (IoT) market in 2017.
2016 was an important year in the development of the IoT, and 2017 will be even more significant and disruptive, for both technology players and the industries where IoT is being deployed.
The five themes identified in Ovum’s “2017 Trends to Watch: IoT” report, that service providers and vendors should expect to see rapidly evolving this year, include:
- LPWA goes mainstream. The rise of Low-Power Wide-Area Network (LPWA) technologies, in particular, Narrowband IoT (NB-IoT) and Long Term Evolution for Machines (LTE-M), will support a much wider range of IoT use cases, enabling low-cost, low-bandwidth, long battery life IoT devices for applications in areas including smart cities, smart metering, and the connected home.
- Vendors and service providers get to grips with IoT diversity. There will be an increased service provider focus on technology diversification to meet more diverse client needs, and on developer outreach, although telcos face plenty of competition in executing on the latter.
- Security rises to the top of the IoT agenda. IoT security will become a core focus for both enterprises and providers, and will be part of every deployment discussion, as well as coming onto the radar for regulators.
- Big data and machine learning unlock new IoT opportunities. A shift toward the delivery of IoT data analytics at the ‘edge’ (closer to where data is collected/aggregated), and the development of new tools for streaming data analytics, are important steps toward enabling the use of IoT data to feed machine-learning engines and other artificial intelligence applications.
- The IoT’s disruptive impact will drive the growth of new as-a-service business models. Innovative business models will continue to evolve in many IoT verticals, including as-a-service models and event-based charging models.
Alexandra Rehak, Practice Leader, Internet of Things, Ovum, said:
“Our research shows that enterprises across many different verticals are now well aware of the potential benefits of the IoT, although most are still in the early stages of thinking about how, when, and where to deploy IoT solutions. Consumers are also getting in on the act, thanks to smart home devices and platforms such as Amazon’s Alexa.”
“We saw the concept of the IoT go more mainstream in 2016. There was heavy media coverage of both the positives, for example Wi-Fi in your car and AI assistants in your home, and the negatives including DDoS attacks using IoT devices and poor transparency on data usage,” continued Gavin Whitechurch, Founder of Internet of Things World. “Behind the hype, solid progress is being made on a number of IoT technologies, tools, and business models, setting the scene for significant evolution of the IoT in 2017. We look forward to seeing many of these technologies on display at this year’s Internet of Things World.”