Look Out for These IoT Trends in 2018

The Internet of Things is growing at a rapid pace – so quickly, in fact, that experts predict IoT will encompass almost 30 billion items and boast a global market value of $7.1 trillion by the year 2020. Therefore, it’s essential for all companies to stay on top of the latest trends in IoT or risk getting left behind. Here is a look at some of the top trends you can expect to see in IoT this year.

More Security Concerns

As Internet of Things systems become increasingly intricate, their network security challenges will also grow in complexity. Keeping information safe will be of the utmost importance if firms want to engender consumer trust, and a lack of qualified IT personnel with the expertise in this particular area will be one obstacle that needs to be overcome.

More Marketing

Now that consumers are becoming more comfortable with the idea of IoT and more knowledgeable about what it can do for them, companies will take advantage of people’s openness to IoT to launch personalized marketing campaigns. This could easily reach the point where consumers become annoyed, so striking the right balance will be essential if the don’t want to lose business.

Continued Expansion

It goes without saying that the IoT will continue to grow, but there are a few particular areas of growth that warrant special attention. In particular, significant expansion is expected to be seen in IoT in healthcare, IoT in retail, and IoT in the supply chain.

Retailers, for example, will use it to help deepen bonds with consumers and make the customer journey a lot more personal, thereby growing their brand in the process. Healthcare will be using IoT to connect with patients using wearable gadgets, while the supply chain will embrace IoT to monitor products on their journey from the factory to the floor. While the full potential of IoT has yet to be realized, many industries will get a lot closer this year.

This blog post was based off of an article from Data Floq. View the original here.

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