IoT Ecosystem Trends and Predictions

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IoT

FountainBlue’s January 12 VIP roundtable, on the topic of ‘IoT Ecosystem Trends and Predictions’. Thank you also to our gracious hosts at Flex.

Our executives in attendance represented a range of roles and companies, all with a perspective on IoT successes, trends and predictions. Below is a compilation of ideas and thoughts from our conversation.

The range of IoT devices and the impact on users at work and home is overwhelming, and the data generated by all these devices is even more so. 

  • There will continue to be a push-pull between features and solutions craved by users and privacy and security demanded by corporate stewards, parents, and other responsible parties. 
  • Successful IoT companies (and responsible adult parties) need to communicate transparently and make considered, proactive choices on which devices to employ under what circumstances, and to create and enforce policies which would help others to do the same.
  • Successful companies will continue to gain market share in specific industries by delivering customer-driven IoT Use Cases.
  • As the convergence of industries continues to evolve, it’s important for product and company leaders to connect with the larger ecosystem of stakeholders and collaborate to deliver coordinated solutions. 
  • Consider joining consortiums around Open Source and Security and Blockchain as they connect stakeholders in order to co-innovate and share best practices.
  • We are gradually evolving to standards in the IoT space, which will help everyone better manage and predict the behavior of IoT devices which impact the people and the network.
  • Be bold, but also become more fully aware of the risks you’re assuming when you download apps and software, especially as it may affect the security of your network, the privacy of your data.

Trends and Predictions

  • Watch for leading companies including Siemens and GE, Emerson and Schneider and the Industrial IoT solutions they will create for enterprises.
  • Watch for security and standards and privacy software solutions which will help manage the proliferation and distribution of IoT devices.
  • Which companies will collect the HUGE volumes of data collected by these devices and provide reports which are usable and actionable?
  • There are HUGE opportunities for the aging market around IoT. Which companies will reach out to this open, large market with a wide range of needs ranging from transportation to e-commerce to entertainment?

The bottom line is that in this Age of Information, companies who can deliver the devices and actionable information and customized products and services will be well rewarded.

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