Data monetisation highlighted among key IoT trends in 2018 according to EY

The EY IoT Competence Center has highlighted data monetisation, revival of network edge processing, and convergence of disruptive technologies such as IoT, blockchain and AI, among some of the key IoT trends that will be in the mainstream in 2018.

Among the key IoT trends that will be prevalent in this year is data monetisation. The team of IoT professionals said that business models that are based on IoT capabilities are very conventional and the anticipated benefits are just circled around the ways to attain incremental value (which created value islands). However, an increasing number of decision-makers have started realising the disruptive potential of IoT. This group is likely to augment its current value stream (toward value ecosystems) and more effectively use and monetise the data collected.

Although industry veterans anticipated the shifting of the IoT data processing to the network edge in the initial days of its development, their expectations did not turn out to be a reality for several factors including slump connectivity costs.  However, declining prices and the rising processing power of edge devices have revived this trend back towards network edge.

With an increase in convergence of disruptive technologies such as IoT, blockchain, AI and robotic process automation (RPA) under one digital disruption umbrella, it is expected by the EY IoT Competence Center that in H1/2018, suppliers will start shifting toward full integration of IT systems supporting business processes and automation solutions to build fully integrated 'Intelligent Automation' solutions.

According to predictions from Telenor Research issued last month, autonomous vehicles, AI, big data and cryptocurrencies will be among the key tech trends in 2018.

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B2B can generate nearly 70 percent of potential value enabled by IoT according to new Verizon report

B2B can generate nearly 70 percent of potential value enabled by IoT according to new Verizon report

Opportunity for revenue growth is the biggest factor driving IoT adoption. Regulatory compliance remains a driving factor behind enterprise IoT implementation. Standards, security, interoperability and cost make up over 50% of executive concerns around IoT.

The Internet of Things (“IoT”) is at the core of digital transformation in 2017, with 73 percent of executives either researching or currently deploying IoT.

Manufacturing, transportation and utilities make up the largest percent of investments, while insurance and consumers represent the fastest areas of spending growth. With 8.4 billion connected “things” in use in 2017, up 31 percent from 2016, and network technology, cost reductions and regulatory pressures driving adoption, business leaders are not only paying attention, they’re getting in the game according to a new report released today by Verizon. Titled “State of the Market: Internet of Things 2017,” the report includes insights from a study commissioned by Verizon, third party research and other new findings.

Early Adopters get a Head Start

The economics of IoT are increasingly compelling and the B2B space will benefit first, generating nearly 70 percent of potential value enabled by IoT. And while enterprises across industries continue to develop and pilot use cases to ensure real-time visibility into data around assets, equipment, power management and public safety – everything from construction industries employing drones for site inspections to government municipalities creating “smart” communities – hesitancies related to IoT still remain. As Verizon’s report highlights, four key concerns stand out for over 50 percent of business executives when exploring IoT:

  • Standards
  • Security
  • Interoperability
  • Cost

These uncertainties, along with apprehension around scalability and simplicity, are holding businesses back from full IoT deployment, with many still in proof-of-concept or pilot phase. Early adopters seem largely focused on proving out simple use cases to track data and send status alerts, just starting to realize the full value IoT has to offer in driving growth and efficiencies across business.

The Barriers are Eroding

The report highlights new network technology across the industry – most significantly, the introduction of the first nationwide CAT-M1 network by Verizon in 2017, and with it, cost reductions in connectivity plans; changing consumer behaviors as they relate to the new sharing economy; and regulatory requirements spanning healthcare, food, and air space. These are just a few of the driving factors of IoT adoption and advancement this year, an ecosystem that will see more than $ 2 trillion in spend by 2017.

The report also sheds light on how businesses should be thinking about IoT moving forward and addresses many of the concerns expressed by executives surveyed. Specifically:

  • Simplicity and integration: IoT platforms, like Verizon’s ThingSpace, will become even more seamless and streamline the deployment of applications, giving developers simplified access to new tools and resources for IoT use cases. In addition, we’ll see ongoing consolidation of the IoT market space.
  • Cost: new CAT-M1 technology and chipsets will reduce costs of connectivity and enable more widespread adoption by businesses large and small.
  • Security: securely collecting, analyzing and integrating data will continue to be at the forefront, with solutions like Verizon’s Security Credentialing, (based on a standard adopted by the GSMA) and Software-Defined Perimeter services, which help protect at the platform, network and device level.

Bringing IoT to Life

Some of the case studies highlighted in the report include:

  • IoT-enabled Track and Trace technology helping pharmaceutical enterprises, like Aegerion Pharmaceuticals, thwart counterfeiting and meet the requirements of the U.S. Drug Supply Chain Security Act (DSCSA).
  • Drones enabling utility and construction firms, like Hensel Phelps, to carry out maintenance and inspections without having to dispatch workers.
  • IoT-connected lawn care. TruGreen, one of the largest commercial and home lawn care providers in the U.S., is connecting sensors in lawns so technicians can determine how much water, fertilizer or pesticide is necessary, enabling fewer visits depending on the specific needs of the lawn.
  • Unmanned aerial vehicles revolutionizing the insurance industry, with 70 percent of Fortune 500 property and casualty companies utilizing drones to perform inspections and other claims-related work.
  • Smart communities. Providing actionable traffic insights; making parking seamless; bringing communities together and bridging the digital divide in forward-thinking municipalities like Boston, Sacramento and Kansas City, among others.
  • Government and private industries joining the sharing economy. Columbus Yellow Cab is using Verizon Share solutions to automate and streamline cab reservation and payment process for its full fleet of cabs and drivers across Ohio. Yellow Cab’s drivers, known as Driver Partners, leverage Verizon’s Share Solution to more easily locate and rent available cabs, creating an on-demand, self-service approach to gaining access to vehicles.
  • Electricity companies moving to smart-reader/smart grid cloud technologies to enable 4G LTE connected meter reading, outage and restoration notifications, providing actionable insights and data for future planning.

Mark Bartolomeo, VP of IoT Connected Solutions at Verizon, said:
“Over the past year, industry innovators in energy, healthcare, construction, government, agtech and beyond have not only piloted, but in many cases, deployed IoT technology to improve business efficiencies, track and manage assets to drive value to the bottom line.”

“In 2017, advancements in technology and standards, coupled with changing consumer behaviors and cost reductions, have made IoT enterprise-grade, and it’s just the tip of the iceberg in driving economic value across the board.”

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The IoT might have a direct Impact on SEO According to Reports

The IoT might have a direct Impact on SEO According to Reports
The Internet of Things refers to the rise of devices aside from computers and cell phones being connected to the internet. It holds the promise of refrigerators calling for service when a major part fails and the appliances in our homes turning off to save power before brownouts turn into blackouts. It raises the specter of hackers threatening to turn your fridge to defrost or crank up the AC to burn up your electric bill while you’re on vacation if you don’t pay a ransom. And now there are reports that the Internet of Things, or IoT, may have a direct impact on search engine optimization.

Shifts in Advertising

The golden dream of marketing is to reach people at the moment they realize they need a product or service because they are likely to buy the first solution that seems like the right one. For example, a refrigerator could be programmed to formulate a grocery list through an app and recommend a certain brand of a particular product in case you run out. These innovations could lead to strategic alliances between brands and completely shift how brands reach their audiences.

Information Appliance

Information appliances like Amazon’s Alexa are all-in-one interfaces. Ask it a question and it repeats the answer from Wikipedia or another highly trusted authority. Ask it to play something like your favorite songs, and musicians who’ve managed to associate their brand with those songs will be the first recommended purchases to the customer. Ask the information appliance how to do something, and websites that have a page listing that exact question are likely to be the result.

References must be tactfully incorporated into your product or service as part of the content read to the user, since voice search users aren’t going to see the brand’s logo or pictures of your products on the website. Search engine optimization for conversational queries that gently refer to brands and products is only going to increase, along with the adoption of information appliances. For example, articles on pest control will reference specific brands of insecticide and then tell you to call ABC pest control company if you still want help.

Local SEO is one of the sectors that will be the most impacted by voice SEO. For example, those relying on NYC SEO agencies will have to ensure that their SEO provider knows how to tailor content to rank well in hyper-local searches that tend to come with voice searches.

SEO for Google Will Be Less Important

Search engine optimization for Google’s search engine will decrease in importance when people are placing orders and searching for information through other platforms. Conversational SEO will dominate, as will products and services that align themselves with the sales channels preferred by each major player in the information appliance field. While Google still dominates web searches, Google Home is on an equal playing field with voice searches through Siri by Apple, Amazon’s Alexa, and Microsoft’s Cortana.

Search engine optimization for web searches is the way forward. Is your business ready?

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Smart home device adoption sees “big uptick” according to new study

whirlpool-assisted-cooking-iot-ces-2017

Smart home device installations seen a “big uptick” in 2016, with refrigerators, washers, and smoke detectors seeing year-on-year growth of over 250 percent.

That’s according to a new study published by PlumChoice, an Internet of Things (IoT) technical service provider and Z-Wave Alliance, a consortium of companies deploying Z-Wave technologies, called 2016: Year of the Smart Device.

See Also: Amazon makes it even cheaper for Alexa developers to use AWS

A consumer survey published in the report said 52 percent of respondents plan to buy a smart home device in the next two years. Out of those that already own a smart device, 84 percent may purchase another.

For consumers that own more than four smart home devices, interoperability becomes a key factor when purchasing a device. Even on the consumer side, the lack of standardization makes it hard for non-tech savvy people to confidently purchase smart home devices.

Expectations have been rising for a year

Expectations for services and support rose in 2016, as consumers demand more from device manufacturers. It comes after a few high-profile device manufacturers have ended support for devices early.

“The smart home industry is thriving, and many companies are recognizing that their success is dependent on a seamless consumer user experience,” said Noelani McGadden, vice president of IoT at PlumChoice. “Last year was a pivotal year for the smart home industry, with the number of people who own a smart device increasing by a staggering 259 percent. As smart home device adoption continues to grow, brands must cater to consumers who are expecting support services as part of their purchase, and at the very least provide installation support.”

The amount of people across the U.S. who are trying to make their house “smart” is still low, but it is growing, as the report shows. To make smart home devices as ubiquitous as the mobile phone, however, manufacturers, developers, and system providers must settle on a standard and promote good corporate behavior, to avoid early distrust.

The post Smart home device adoption sees “big uptick” according to new study appeared first on ReadWrite.

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Top Three IoT Platform Startups According to Global Internet Ranking

Last decades have been significant in terms of the technological reform that we have witnessed. However, one of the technology trends getting the most attention was the Internet of Things (IoT). What started off as a mere idea has today turned into a multi-million business trend which has, over all these years, paved the way for many innovative discoveries to take place around us. One of the factors which make the Internet of Things a break-through technological wonder is the fact that it has evolved largely out of our living rooms and workplaces; hence resulting in the successful creation of smart

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