It is predicted that there will be an increase in revenue generated by IoT as well as cost reductions. This expectation is because of the increase in smart devices. They have impacted the employment and the education sector whereby employees’ and students have increased productivity. Students will find easy ways on how to do my homework using effective gadgets and devices.
1. With the introduction of the 5G, there is expected growth in devices and data. More than 3 billion devices were used online for daily tasks previously though this number is expected to increase. Businesses are adapting to edge computing for easy and fast data processing.
2. There will be a massive transformation in industries because of the industrial revolution expected. The number of manufacturing equipment connected to the internet will be increased. This will be very effective to increase production within industries. The healthcare industry has adopted IoT technology in every part of it including home care, smart pills, health records, personal health care and managing sensitive data. This has led to the overall patient care improvement and these improvements are expected in many other industries in 2019.
3. Venture capitalists have seen the impact because they are able to connect with incredible, innovative projects around the world. It is expected that in 2019 the investments will increase massively. This is because of the market change as most businesses and companies will use the internet to connect with customers who seem to depend on smart devices for their daily use.
4. There will be an expansion and diversification of the smart IoT. The internet will lead to the convention of smart neighborhoods to smart cities. There will be smart sensors around neighborhoods which will record everything that happens around the neighborhood in the bid to create a clean, safe and comfortable place for the occupants. There will be a diversification as self-drive cars will have traffic information and voice change eventually changing the way people drive in 2019.
5. Artificial intelligence will be used to interpret the amount of data collected and increase value for businesses. Artificial intelligence will be used in every stage of data processing such as data preparation, visual streaming of data, advanced and predictive analytics, data discovery, logistical data, and formation of real-time data.
6. Fog computing, which is an attractive technology to solution providers. This has distributed a load of processing to the edge of the network. This will benefit many users on the internet because they will operate easily and reliably for quick decisions. People will have better insight into the local data and better data analysis. Fog computing will be implemented by most businesses to have control over data loss and give insights into network health.
7. The networks will be more vulnerable to cyber attacks which mean extra security is important for the IoT network. The blockchain is expected to grow as transactions are decentralized with more people accessing the platforms to approve transactions and storage. There is a need for extended security, maintaining previous records. Manufacturers should expect to embrace blockchain in their manufacturing chains.
8. It has been a challenge trying to standardize the IoT as different industry leaders try to dominate the markets. There is expected change on the next smart devices and consumers will be adding devices with fewer frustrations. To standardize the IoT the processes, including applications, platform and connectivity need to be dealt with one by one.
9. There is an expected shortage of IoT skills because businesses are still struggling to hire information technology experts. With the transformation in the IT industry, there is a need for continuous improvement to accommodate new emerging skills. It is expected that the professional IT experts will be commanding high salaries as they will be scarce to find.
10. The consumer market will be motivated to grow. Consumers are getting used to using apps when buying goods and services or searching any information they need. There is an expected increase in business platforms where people can easily sell their businesses. Those who were not ready for this in 2018 will certainly embrace it better in 2019.
The IoT is being influenced by the enterprises but now there will be a shift as the change will be coming from the consumers because it is changing the way people live. Finding thesis help or help with studies will be easily done at the comfort of one’s space with the right connected device. With the emergence of smart cities, cyber criminals will be targeting them. The advancement of the services will create opportunities in business and create more jobs.
