IEEE 5G World Forum: 8 trends of iot in 2018 and beyond july 9th 2018 santa clara , ca
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The document discusses 8 trends predicted for IoT in 2018 and beyond: 1) Lack of standardization will continue due to the lack of unified standards, 2) More connectivity and more devices as the number of IoT devices doubles by 2021, 3) Blockchain is seen as providing "new hope" for IoT security, 4) Continued investments in IoT hardware, software, and services, 5) Increased use of fog computing to minimize latency and bandwidth, 6) Closer work between AI and IoT across many applications, 7) Emergence of new IoT-as-a-Service business models, and 8) Increased need for skills in big data analytics and AI.
![• Consumers and businesses alike are
anticipating the next big innovation. They are
all set to embrace the ground-breaking impact
of the Internet of Things on our lives like ATMs
that report crimes around them, forks that tell
you if you are eating fast, or IP address for
each organ of your body for doctors to
connect and check. [6]](https://image.slidesharecdn.com/ieee5g8trendsofiotin2018andbeyondjuly9th2018santaclaraca-180710031722/85/IEEE-5G-World-Forum-8-trends-of-iot-in-2018-and-beyond-july-9th-2018-santa-clara-ca-10-320.jpg)
![• Unless a well-respected organization like IEEE
stepped-in and leads the way or the
government imposes restrictions on doing
business with companies if they are not using
unified standards [7].](https://image.slidesharecdn.com/ieee5g8trendsofiotin2018andbeyondjuly9th2018santaclaraca-180710031722/85/IEEE-5G-World-Forum-8-trends-of-iot-in-2018-and-beyond-july-9th-2018-santa-clara-ca-14-320.jpg)
![• By 2018 it will at least double and touch a
whopping the mark of 46 Billion by 2021.
More IoT devices will enter the channels,
more than ever before. A clear indication of
our direct dependency over the gadgets and
that’s how our future is shaped.[7]
Trend 2 — More connectivity and more devices](https://image.slidesharecdn.com/ieee5g8trendsofiotin2018andbeyondjuly9th2018santaclaraca-180710031722/85/IEEE-5G-World-Forum-8-trends-of-iot-in-2018-and-beyond-july-9th-2018-santa-clara-ca-19-320.jpg)
![• The benefits of using smart devices in that
capacity include boosting customer
engagement, increasing visibility, and
streamlining communication that will include
new human-machine interfaces such as voice
user interface (VUI) or Chatbot.[1][3]](https://image.slidesharecdn.com/ieee5g8trendsofiotin2018andbeyondjuly9th2018santaclaraca-180710031722/85/IEEE-5G-World-Forum-8-trends-of-iot-in-2018-and-beyond-july-9th-2018-santa-clara-ca-20-320.jpg)
![• Subsequently, the need for Big Data and AI
skills will rise, while most IoT service providers
have highlighted the shortage for such
extensively skilled candidates, internal
learning programs in close proximity with R&D
has set to be launched in many
companies.[2][11][9]](https://image.slidesharecdn.com/ieee5g8trendsofiotin2018andbeyondjuly9th2018santaclaraca-180710031722/85/IEEE-5G-World-Forum-8-trends-of-iot-in-2018-and-beyond-july-9th-2018-santa-clara-ca-35-320.jpg)
IEEE 5G World Forum: 8 trends of iot in 2018 and beyond july 9th 2018 santa clara , ca
- 1. Trends of IoT in 2018 and Beyond Prof. Ahmed Banafa IoT Expert | Faculty | Author | Keynote Speaker College of Engineering San Jose State University San Jose, CA USA IEEE 5G Conference 2018 Santa Clara, CA
- 2. Trak.in
- 5. IDC
- 6. IDC
- 10. • Consumers and businesses alike are anticipating the next big innovation. They are all set to embrace the ground-breaking impact of the Internet of Things on our lives like ATMs that report crimes around them, forks that tell you if you are eating fast, or IP address for each organ of your body for doctors to connect and check. [6]
- 11. • 2018 and beyond, IoT will see tremendous growth in all directions; the following 8 trends are the main developments we predict for coming years:
- 13. Trend 1 —Lack of standardization will continue • Digitally connected devices are fast becoming an essential part of our everyday lives. Although the adoption of IoT will be large, it will most likely be slow. The primary reason for this is lack of standardization.
- 14. • Unless a well-respected organization like IEEE stepped-in and leads the way or the government imposes restrictions on doing business with companies if they are not using unified standards [7].
- 15. • The hurdles facing IoT standardization can be divided into 3 categories; Platform, Connectivity, and Applications:
- 16. • Platform: This part includes the form and design of the products (UI/UX), analytics tools used to deal with the massive data streaming from all products in a secure way, and scalability.
- 17. • Connectivity: This phase includes all parts of the consumer’s day and night routine, from using wearables, smart cars, smart homes, and in the big scheme, smart cities. From the business perspective, we have connectivity using IIoT (Industrial Internet of Things) where M2M communications dominating the field.
- 18. • Applications: In this category, there are three functions needed to have killer applications: control “things”, collect “data”, and analyze “data”. IoT needs killer applications to drive the business model using a unified platform.
- 19. • By 2018 it will at least double and touch a whopping the mark of 46 Billion by 2021. More IoT devices will enter the channels, more than ever before. A clear indication of our direct dependency over the gadgets and that’s how our future is shaped.[7] Trend 2 — More connectivity and more devices
- 20. • The benefits of using smart devices in that capacity include boosting customer engagement, increasing visibility, and streamlining communication that will include new human-machine interfaces such as voice user interface (VUI) or Chatbot.[1][3]
- 21. Trend 3 — “New Hope” for security: IoT & Blockchain Convergence • As with most technology, security will be the major challenge that needs to be addressed. As the world becomes increasingly high-tech, devices are easily targeted by cyber-criminals. Evans Data states that 92% of IoT developers say that security will continue to be an issue in the future.
- 22. • Consumers not only have to worry about smartphones, other devices such as baby monitors, cars with Wi-Fi, wearables and medical devices can be breached. Security undoubtedly is a major concern, and vulnerabilities need to be addressed.
- 23. • Blockchain is a “new hope” for IoT Security. The astounding conquest of Cryptocurrency, which is built on Blockchain technology, has put the technology as the flag bearer of seamless transactions, thereby reducing costs and doing away with the need to trust a centered data source.
- 25. Trend 4 — IoT investments will continue • IDC predict that spending on IoT will reach nearly $1.4 trillion in 2021. This coincides with companies continuing to invest in IoT hardware, software, services, and connectivity. Almost every industry will be affected by IoT, which means many companies will benefit from its rapid growth.
- 26. • The largest spending category until 2021 will be hardware especially modules and sensors, but is expected to be overtaken by the faster growing services category. Software spending will be similarly dominated by applications software including mobile apps.
- 27. Trend 5 — Fog Computing will be more visible • Fog computing allows computing, decision- making and action-taking to happen via IoT devices and only pushes relevant data to the cloud, Cisco coined the term “Fog computing” and gave a brilliant definition for Fog Computing: “The fog extends the cloud to be closer to the things that produce and act on IoT data”.
- 28. • The benefits of using Fog Computing are very attractive to IoT solution providers, some of these benefits: minimize latency, conserve network bandwidth and operate reliably with quick decisions.
- 29. Trend 6 — AI & IoT will work closely • Merger of IoT data analytics with AI for applications ranging from elevator maintenance to smart homes, will progress rapidly over the coming two years. Platform and service providers are increasingly delivering solutions with integrated analytics designed to feed data directly into AI algorithms.
- 30. • Another important advantage of using AI is supporting the optimization and adaptation of both IoT devices and related processes and infrastructure.
- 32. Trend 7 — New IoT-as-a-Service (IoT-a-a-S) business models • Transformational business models will develop in many IoT verticals over 2018-2019, supported by Big Data and AI tools. In these models, the value is in the convenience of the service for end customers (on-demand and not requiring heavy upfront expenditure), and the usage data that is collected, analyzed, and fed back into suppliers’ businesses and processes.
- 33. • But the potential for IoT business model transformation extends beyond this, to encompass an increasing variety of more complex, as-a-service business models that disrupt existing industries, particularly for areas such as heavy industry, transport and logistics, and smart cities.
- 34. Trend 8— The need for skills in IoT’s Big Data Analytics and AI will increase • Dynamic data sharing is at heart of IoT and Big Data Analytics will be instrumental in building responsive applications. Integrating IoT data channels with AI to retrieve on demand analytical insights has already gained momentum this year and will definitely grow exponentially in 2018.
- 35. • Subsequently, the need for Big Data and AI skills will rise, while most IoT service providers have highlighted the shortage for such extensively skilled candidates, internal learning programs in close proximity with R&D has set to be launched in many companies.[2][11][9]