Top IoT trends in 2017

IoT investment

 

According to the latest research from Strategy Analytics, the Top Internet of Things (IoT) Trends in 2017 will reflect concerns over security, network connectivity choices, and privacy.

The need for flexible, real-time security, along with ensuring privacy in the face of ramping volumes of data will be key trends for IoT over the next 12 months.

Telecommunications choices in IoT deployments, such as LTE Cat-M1, NB IoT and unlicensed spectrum LPWA technologies, will grow in different countries and verticals at different rates, causing confusion among companies looking to deploy IoT solutions in 2017.

Andrew Brown, Executive Director of Enterprise and IoT Research at Strategy Analytics, said, “Security remains the major concern in the IoT. In an IoT environment, the attack surface increases exponentially, and security needs to be considered not just early in the design phase, but at every level of an implementation.”

READ ALSO: IoT spending 2016-2020 revealed IDC

We’ll see growth in real-time, flexible security implementations, which can watch a network for malicious traffic and behavioral anomalies, detect end point vulnerabilities, identify real-time changes to systems, automatically enforce end point protections and access rules, block malicious traffic, follow compliance dashboards while providing audit data”, he added.

Matt Wilkins, Senior Analyst, IoT Research at Strategy Analytics added, “Artificial Intelligence and Machine Learning will become an increasingly critical part of the IoT process, seeking to turn data into real-time, actionable insights.”

Recently a Harvard Business Review report also threw some light on the IoT. It says that expectations about IoT are high and 44 percent of companies aim to use IoT to transform their business model, according to a recent Harvard Business Review report.

In the past couple of years, the volume and variety of IoT solutions have mushroomed. Some companies are already seeing significant tangible benefits of IoT, while many others are just exploring and trying to figure out what it means to them.

According to a forecast by market research firm Research Nester, the IoT market is expected to reach $724.2 billion by 2023, growing at a CAGR of 13.2 percent during 2016-2023.

ALSO READ: IoT Key trends 2017 and beyond

Earlier in January, data released by market research agency IDC revealed that global spending on IoT will grow 15.6 percent over the 2015-2020 forecast period to hit $1.29 trillion in 2020. Growth will be driven mainly by manufacturing, transportation and consumer IoT investments.

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