The Internet of Things (IoT) is creeping into every aspect of our lives. With the advent of smart cities, smart manufacturing, precision agriculture, drones and digital energy, businesses and individuals alike have seen the influx of IoT technology. For example, a recent report from Gartner, “suggests that more than 26 billion devices will be connected to the internet by 2020, with 250,000 of them being vehicles.” So, with the billions of connected things, its only natural this week’s top news roundup would highlight how IoT is maturing and what experts see for the future ahead.
Research Firm calls for Standardized IoT Deployments
As the demand increases to make more smart cities, researchers warn of extra costsand fragmented delays if we don’t create overall IoT standards. Machina Research reports, “Using current non-standardized technologies, it would cost 1.12 trillion dollars to get smart cities up and running by 2025. Were a standardized approach adopted, the total cost would be 781 billion dollars, a savings of 341 billion dollars worldwide.”
Is Automation the Key to Unlocking IoT Data?
The best approach to implementation is a combination of data analytics with real-time automated wireless results Dave McCarthy senior director of products at Bsquare suggests that, “The goal of any IoT system should be to extract business value from device and sensor data.”
Three Ways to Leverage IIoT
Some of best ways to leverage Industrial IoT is by learning to adapt machine learning(M2M), embedded sensors and an overall operational shift allowing the wireless technology to be implemented across the business. Scott Stone with Plant Engineering informs us that, “Accenture predicts that vendor-specific and proprietary infrastructure will be replaced over time with interoperable platforms. Harnessing the data through sensor-driven computing, industrial analytics and intelligent machine applications opens the door for innovation.”
Internet of Things Offers Vision of the Future
IoT is not a new concept, it has actually been around for 30 to 40 years, yet the future of IoT will still be fueled by security and integration concerns as our need to be connected everywhere continues to grow. Basher Saajid with Liberty Voice reminds us that, “Forbes has reported the overall IoT potential to generate additional $10-$15 trillion for the world GDP by 2034.”
We hope you enjoyed this quick look at IoT top news, as always tell us about the stories you found of interest!