Back to Banyan Hills Insights

2017 IoT Predictions: Get ready, 2017 is going to pave the way for IoT adoption

January 5, 2017 - IOT predictions
Make room for IoT. It’s a necessary step to moving any business forward. What can the world expect from IoT technology in the upcoming year? IoT implementations that bring in new revenue streams and deliver real-time business insights. We’ll see a rising trend in the intersect of virtualization and IoT.

As the number of connected things continues to rise, it has been projected to reach 50.1 billion things in 2020, and there is estimated to be 44 trillion gigabytes of data from all those connected things—that’s equal to the number of stars in the universe. It’s incredible!

Has all the hype around IoT finally settled into something real? Is there firm ground below and will we see a solid foundation for IoT in 2017? You bet. Here are seven solid predictions for IoT in 2017.

Digital to replace physical

Businesses are going to replace more people with machines to improve the customer experience. Rising wages and economic pressures are forcing companies to focus more on automation. We are going to see that happen more and more in hospitality, and healthcare, with implementations like ordering and patient check-in.

Declining costs

Cost of storage, compute and sensors will continue to decline to make it more cost-effective for operators to scale up. They’ll be able to manage, monitor and maintain very large networks of devices and gain real-time insights to make more informed decisions about the business.

Consolidation

We will see a great deal of consolidation with IoT companies. A few winners will emerge from the platform wars in key industries. Stronger thought leadership will help shape the next wave of IoT implementations and solve some of the challenges we’ll face in 2017.

Standardization

This is a big one! There will be an increase in standardization across the board in how devices communicate to each other and to the enterprise as well as standardization of security protocols and IoT architectures.

Industry Matures

There will be maturity in how organizations approach IoT. We will see more meaningful careers in IoT, and business will do a better job diversifying the skills and expertise in IoT.

Moment Marketing

We’ll see new revenue opportunities from connected devices. As new tools and technologies come to market, advertising and promotions will extend into new locations, platforms, and deliver new experiences.

Growth

We’ll continue to see growth in the consumer sector for IoT, but stronger industrial based IoT implementations both in B2C and B2B. Some less mature startup solutions will begin to fade.

So how do we embrace all of this in 2017 to prepare for what is in store?

First start with the end in mind and determine how your IoT implementation will help your customers!

Next, look at ways you can extend an existing product or service with IoT.

Last, but certainly not least find a strong partner to help develop your IoT strategy and build a proof of concept.

Get ready, 2017 is going to a big year for IoT implementations. The more sophisticated we become in managing and monitoring devices, the more opportunities we’ll have to drive greater efficiency and new revenue streams in the New Year.

As appeared on VMBlog.com http://bit.ly/2hRBxPa

Resources For Learning About the Internet of Things

Stay up-to-date in this fast moving industry

How IoT Data Can Enhance The Banking Industry

Any industry that benefits from data aggregated from products and customers is transformed by IoT and banking is riding just such a wave.

Read more
Now In Beta: A Fresh New Look For The Canopy IoT Platform

Upgrades include an improved navigation structure, faster performance and enhanced visualizations that put even more power into the hands of Canopy’s users.

Read more
Chef and owner at restaurant
Case Study: MDM Solution Helps Revel Systems Support Its Customers

Revel Systems wanted to find a way that they could remotely monitor, update and even fix their point-of-sale solutions in the event something goes wrong.

Read more
Now’s the Time To Leverage Remote Monitoring and Management

The Internet of Things has the potential to dramatically improve the visibility that IT managers have into their operations.

Read more
ipad with sign in front of it
Why Mobile Device Management is a Critical Tool for Modern IT Operations

Keep networks of mobile devices, such as tablet computers, fully-functional to ensure a positive customer experience. An MDM solution can help with diagnosing issues and pushing the latest software updates.

Read more
Industrial IoT
How Industrial IoT Analytics Can Enhance Business

Rich analytics help managers and leaders at every level drive the decisions and realize the improvements that the Internet of Things promises.

Read more

Awards and Recognition

A few of the places where Banyan has received recognition

Inc. 500 logo
IoT Innovations logo
Industry Today logo
Business Radio X logo
RFID Journal logo
VxChange logo
COVID-19 Update: Our commitment to our customers. Learn more