Market-research and consulting firm Ovum, in partnership with Internet of Things World 2017, recently announced the five key trends to watch in the Internet of Things (IoT) market in 2017.
While 2016 was an important year in the development of the IoT 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 uses, 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 at the top of 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.
- IoT’s disruptive impact will drive 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.