With every year that passes we are getting closer to a state of ubiquitous connectivity. The increasing interconnectedness of our world will undoubtedly lead to a rapid emergence of new players and an abundance of new technology that we will use in our homes every day.
This year has seen the Internet of Things (IoT) grow immensely, but what can we expect from the IoT in 2017? Here are four industry predictions:
Money, money, money
As far as the experts are concerned, trillions of dollars will be spent on IoT solutions over the next few years. The influx of money being spent on the Internet of Things will lead to a vast upsurge in the amount of connected technology that we will use in our homes and cities next year. A huge amount of money will be spent on the IoT in 2017, but will we have to pay lots to own and use these emerging technologies?
Obviously, business customers will still be the largest target for IoT implementation. However, it is predicted that governments will be the second-largest adopters of the IoT ecosystems in 2017. The Internet of Things is proving to be a desirable asset for all businesses and corporations, and 2017 will be no exception.
A risky year
Pumping money into the Internet of Things will, in turn, create risks. By increasing the amount of IoT devices and solutions, the risk and exposure of the IoT will also accumulate. An underlying cause for this risk, in terms of security, is a lack of regulations and standards across IoT devices. Hundreds of IoT devices are developed each year, but there is an inability to control and implement policy at the same speed as these technological advancements.
In 2017, hackers will continue to exploit the Internet of Things, with a particular focus on targeting and launching attacks against vulnerable devices. By using connected devices, a large-scale IoT security breach is to be expected in the most vulnerable areas, such as surveillance or fleet management in transportation. Although, the IoT attacks will not stop there. Hackers will also target smaller, and less important, devices, just to prove that they can.
The infinite potential of the Internet of Things will definitely attract new approaches, solutions and business models. New players will look to the Internet of Things for great business perspectives as, within a few years, the IoT will be a solid foundation of the global economy.