Is technology enriching human lives or detracting from them? The benefits of adopting mobile and connected devices and IoT (Internet of Things)-enabled solutions include everything from patients with chronic illnesses being able to track health metrics to enterprises being able to generate new revenue opportunities by leveraging realtime data.
The projections for the IoT (Internet of Things) are numerous, exciting, and often sky high. Is the industry over reaching with its expectations? Is it under reaching? It’s impossible to know how the future will play out, but it seems the IoT will definitely play an important role in how industries operate and businesses run down the road, even as it shapes the way societies thrive and individuals live.
Back in 2014, research and analysis firm Gartner, www.gartner.com, predicted that by this year, 2017, 50% of IoT (Internet of Things) solutions would originate in startup companies that are three years old or less. Makers, tinkerers, and startups are fueling innovation and often creating new niche markets for the IoT, forcing larger tech providers to sit up and take notice and, in some cases, try to keep up.
According to the U.S. EIA (Energy Information Admin.), about 40% of total U.S. energy expenditure was consumed by the residential and commercial sectors—mostly buildings—in 2016. In fact, 40% of the entire globe’s total energy consumption is generally attributed to buildings. With building energy consumption being as high as it is, it is a priority for businesses and building owners, as well as cities and governments, to find ways to manage this energy more efficiently and intelligently.
The pressure to do more with less permeates just about every industry, especially now that IoT (Internet of Things) devices and technology solutions have opened the door to so many new possibilities in so many contexts. For utilities managing city water usage, legislation, social, and environmental pressures to reduce water consumption, an aging infrastructure, and finances are all motivating factors for utilities to adopt smart water management solutions enabled by the IoT.
The IIoT (industrial Internet of Things) may just be one of the most important drivers of growth and productivity in the next decade, according to Accenture, www.accenture.com, which estimates the IIoT could add more than $14 trillion to the global economy by 2030. Similarly, Grand View Research, www.grandviewresearch.com, says the emergence of low-power hardware devices, cloud integration, Big Data analytics, robotics and automation, and smart sensors will elevate the IIoT market to new heights in the next decade.
Autonomous vehicles are one of the most important ways technology will change society in the next few decades. Along with being one of the most exciting and promising sectors of the IoT (Internet of Things), autonomous vehicles also raise some of the most pressing questions facing the industry today. From infrastructure to safety and security to insurance, self-driving cars will bring waves of change not only to the transportation sector but also far beyond it.
In many ways, the IoT (Internet of Things) is the antithesis of one size fits all. Rather than simply relying on data, workflows, or processes designed to meet a wide variety of needs for a wide variety of businesses, IoT solutions use actual data gathered from a business’ machines, workflows, or processes to make automated decisions or to enhance humans’ decisionmaking. When it comes to protecting this data through cybersecurity solutions, a one-size-fits-all approach isn’t a good option either.
The new generation of flexible electronics is unleashing disruptive Internet of Things apps. Here’s Part 3 of three part news analysis looking at the future of wearable flexible electronics for the IoT.
The new generation of flexible electronics is unleashing disruptive Internet of Things apps. Here’s Part 2 of three part news analysis looking at the future of printed electronics technology fueled by the IoT.