IoT to reshape businesses in 2018, predicts Forrester

IoT to reshape businesses in 2018, predicts Forrester

Market news |
By Rich Pell

The IoT, says Forrester, extends beyond devices and connectivity to include analytics, data management and monitoring, and security. In 2018, the company predicts, the IoT will move from experimentation to “business scale.”

“IoT is re-shaping how businesses are organized, including the roles and responsibilities of individuals — and how they work together,” says Christopher Voce, Vice President, Research Director at Forrester. “Capturing the promise of any of these scenarios requires organizations to collaborate in new ways.”

The firm’s latest predictions are designed to help organizations look ahead and prepare for “what’s in store” next year.

One key prediction is that IoT platform offerings will begin to specialize in “design” and “operate” scenarios. “Design” use case scenarios involve creating connected offerings or environments to engage with customers, while “operate” use cases enhance processes and create new efficiencies or enhance customer experiences.

While buyers today looking for an IoT platform can choose from a broad landscape of platforms – including AWS IoT, General Electric (GE) Predix, and Microsoft Azure IoT Suite – only some may suit a company’s specific IoT needs. In 2018, says Forrester, expect platforms to specialize to suit the specific needs of their audiences – whether creating new connected products or deploying a connected process.

Another prediction for 2018 is that new European guidelines will encourage the use of advanced technology to commercialize IoT data and promote the exchange of data and insights. Currently a greater percentage of U.S.-based companies are commercializing data compared to their European counterparts, but Forrester expects a European data economy directive will “spark the data economy” in 2018.

Finally, says Forrester, IoT security issues – the top concern of organizations looking to deploy IoT solutions – will remain a threat. The firm expects that organizations will continue to tend to prioritize business pressures over technology security concerns and that in 2018 “we’ll see more IoT-related attacks like the Mirai botnet that caused havoc – except they’ll grow bigger in scale and impact.”

For more, see “Predictions 2018: IoT Moves From Experimentation To Business Scale.”

Related articles:
IoT to grow to $2T global market in 2017, says report
IoT platform market to be over $2.3B by 2021, says report
IoT security market to grow at 36% CAGR to 2021, says report
IoT devices becoming ‘cyberweapon of choice’ for attackers

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