Top Five Emerging IoT Trends shaping the Market Landscape

IoT, possibly is one of the most transformative as well as compelling applications of pioneering technologies for almost every business and consumers these days. Moreover, major trends have been emerging that might shape the existing landscape of the IoT market. Hence, the businesses that are capable of listening, learning followed by adapting such trends may perhaps win the market.

Cyber security is a big concern, but not a barrier to IoT adoption: Companies performing IoT at scales have been view it as a deliberately imperative and are ready to make changes in their policy and invest further in cyber security.

Artificial intelligence (AI) has caught up to 60 percent in IoT since past 2 years: A few major things that has spurred the upturn the usage of AI include convergence of algorithmic progressions, proliferation of data and tremendous upsurges within power & storage competences at a lesser cost.

Chinese IoT firms are capturing the entire market: The Chinese IoT firms are having global objectives and have been following industrial companies of China that are expanding across the globe. Also, these firms are moving into the Belt & Road initiative nations.

Positive winds across heavy industrial sectors: The top 10 energy companies across the globe have utilized IoT applications as a part of an extensive process and technology up gradation program in order to reduce the unit production costs by nearly 33 percent over the period of next five years. Moreover, data from past 3 year shows that, it has already saved almost $9 billion of capital costs. In addition, implementing IoT-enabled analytics for drilling the well data has assisted the companies to upturn the yield of mature oil wells.

Amazon & Google have already hit the critical masses in connected homes segment:  Alexa & Google Assistant have reached critical masses across the globe, moreover, despite of certain security & privacy distresses, are progressively been integrated into the way of operate things in home. Consumers, particularly younger generations, make use of these devices for initiating shopping, controlling entertainment, adjusting thermostat & lighting as well as even making coffee. This has a significant effects for IoT strategy as the manufacturers.