Five IoT Trends To Consider In 2017
WRITTEN BY Peter Daisyme
Many of the technology trends of 2016 are beginning to take greater shape in 2017. That includes the internet of things (IoT). While there seems to be more buzz around artificial intelligence and machine learning, many tech experts are still tinkering away with the various IoT applications, creating smart offices and homes that have networked climate controls, appliances and utilities to improve energy consumption and security. While I'm currently not representing any IoT products or startups, I have tried and tracked numerous solutions.
Certain types of IoT products have gained momentum in the market, including home thermostats, door locks controlled from smartphones and smart refrigerators. This is just the beginning from what I've seen as many of these companies develop. Whether you are thinking of creating your own IoT startup, contemplating adding IoT applications to your business or pondering the investment possibilities, it is important to pay attention to some of the key trends shaping this area over the coming year.Increased Vertical ApplicationThermostats and home appliances seem to be doing well as IoT applications, because the companies' target audiences understand the value these products add. They can see where they would fit in their lives. Therefore, the trend seems to be going toward additional niche industries such as smart cars, climate control and home security.
At some point in the future, all of these verticals will connect like dots. Until then, separate emerging IoT solutions for things like smart cities and connected cars will be popular this year. At the Consumer Electronics Show (CES) in Las Vegas this year, vendors illustrated some of these applications and their benefits for users, including thermostats and refrigerators that re-order products when you're low on inventory from sites like Amazon.
Research how your industry can get involved in IoT and whether there is a marketable quality to an IoT product or not. If you are interested in IoT or currently developing an IoT solution, focus on what industries may be undertaking a more rapid adoption.The Emergence Of IoT MarketplacesAlongside the vertical development of IoT solutions for various industries, marketplaces may also build momentum toward greater adoption this year. The IoT marketplaces are like gateways that offer companies the option to connect and interact with a wide range of vendors, without having to create or change existing platforms.
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