Many new technologies are expected to flourish in 2018, including the Internet of Things (IoT). Through the Internet of Things technology, new applications such as home thermostats, smart door locks and smart meters continue to increase, and the industry is also racing to invest in IoT technology to boost profit growth. The Internet of Things company Telit India is in charge of Asish GulaTI's BW Disrupt website, which summarizes several trends in the Internet of Things in 2018.
First, the application of the Internet of Things will be more extensive. Most companies are gradually integrating the Internet of Things into their core products and plans to promote the development of digital enterprises. By 2022, the Internet of Things will play a central role in the management of millions of business processes. Looking ahead, HVAC systems can even be remotely controlled via IoT technology.
Second, the Internet of Things has also boosted demand for security. With the networking device making human life more convenient in 2018, the importance of security is naturally self-evident. Internet of Things security needs to be multi-pronged, and all participants in the IoT ecosystem should be responsible for protecting information security. Therefore, it is expected that the investment in the Internet of Things in 2018 will continue to increase.
Third, because the Internet of Things will generate big data, it will prompt operators to accelerate toward faster 5G networks. However, although the 5G network speed will leap forward, it will not be popularized in a short period of time.
Fourth, another area that will develop rapidly in 2018 will be the automotive industry, especially fleet management. It is expected that the networked car production will grow rapidly in India. Trucks, car rentals and other companies will use the Internet of Things technology to experience explosive growth.
Fifth, companies will invest heavily in IoT technology in 2018. It is expected that government departments and the private sector will lead the investment in the Internet of Things. Industry sources predict that companies will invest up to $6 trillion in IoT solutions by 2021. It is expected that many venture capitalists will be betting on a lot of money in the Internet of Things industry, and the main sources of funding will flow into the new Internet of Things entrepreneurs.
Finally, the Industrial Internet of Things (IIoT) is expected to take off in 2018. It is expected that the Industrial Internet of Things will innovate manufacturing through mergers and acquisitions and big data. At present, many innovative companies have begun to deploy the Industrial Internet of Things to enable networked devices to perform more functions in the factory.
Companies have saved considerable operating costs by predicting repair time points, improving safety and other efficiencies. GulaTI expects the Industrial Internet of Things to significantly improve networking, efficiency, scale and time and cost savings, and to make better decisions through the IoT information.
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