Top trends that will rule IoT in the year 2020

Enabling transformational benefits for businesses

The formative systems of AI were only competent in managing a narrow category of tasks. They could not scale well and often called for human intervention. However, continuous studies and progress in technology have led to the evolution of AI in tandem with IoT concept which has given rise to the much loosely used term now, Smart Machines. Leveraging the power and capability of AI, smart machines will simplify the tasks by performing them in minutes which otherwise would take weeks or even months to complete. These machines will radically transform the way most enterprises do business, bringing in an advanced level of comfort and convenience.

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The synthesis of the two concepts offers real value proposals in the form of smart sensors that seek to proffer real-time data and feedback to make these three significant analyses.

• Predictive: Predictive analysis helps to determine when a part of the machinery is most likely to experience a breakdown. Such analysis will help in averting the failure through preemptive intervention.

• Prescriptive: Prescriptive analysis offers immediate suggestions that can be instrumental in preventing any kind of disasters or botches.

• Adaptive/ autonomous: Constant data feeds from sensors can help the systems in taking frequent actions autonomously without any human involvement.

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Global Security-as-a-Service (SaaS) market revenues totalled US$ 3.3 billion in 2016, and are anticipated to grow at a staggering CAGR of 17.1% through 2026. Key factors propelling the adoption of SaaS services include proliferation of Internet of Things (IoT) and cloud computing. The key end use sectors for SaaS include telecom and IT, BFSI, and healthcare remain the largest end-users of SaaS, with telecom and IT particularly witnessing robust adoption. By 2026, the revenue share of telecom & IT is expected to reach 30%, whereas BFSI sector will account for 20.3% of total revenues.

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Concerns about potential security threats to confidential and important information is influencing telecom & IT companies to invest in SaaS. Consequently, providing end-to-end security solutions remains a lucrative mode of operation of SaaS companies. Prominent SaaS companies, including Intel Security, Cisco Systems, Inc., and Oracle Corporation are focusing on offering customised solutions to their clients. While IT & telecom will continue to remain the most lucrative end-user, gains will be steady in the healthcare and BFSI sector.

Global SaaS market revenues remain equally concentrated between large players and local vendors. It is projected that by 2026, large companies and multinational corporations will account for over 50% share, with the rest remaining fragmented among small and medium enterprises.A key trend in the global SaaS market is that service providers are focusing on becoming integrators of holistic solution providers rather than just offering one particular type of service.

Reluctance to adopt cloud based solutions is steadily waning, and as more companies come on board, the SaaS market is anticipated to gain further traction.It is projected that the SaaS delivery market will grow at a higher rate as compared to traditional software. File sharing continues to be the leading end-use for SaaS globally, with virtual desktop infrastructure (VDI) being the otherleading segment.For global players, growth of the security services of IoT and cost advantages remain key opportunities to leverage during the forecast period.

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Although the outlook on SaaS remains positive, longstanding challenges, such as difficulty in storing unstructured data and risk of organized attacks remain key challenges. Further, easy accessibility to data makes confidential information vulnerable to cyber-attack and hacks.Some of the leading market players profiled in this report include Intel Security, Oracle Corporation, Cisco Systems, Inc., Gemalto NV, Qualys Inc., Alert Logic Inc., Trend Micro Inc., Proofpoint Inc., Zscaler, Inc., and Okta, Inc.

North America and Western Europe remain the two largest markets for SaaS, with the former accounting for over 35% revenue share of the market in 2016. The North America SaaS market was valued at US$ 1.04 billion in 2015, and is anticipated to grow at a staggering 20% CAGR through 2026. Western Europe, the second largest market globally, will also be the fastest growing market after North America.

It is worthwhile to mention that SaaS market in North America will be completely dominated by the U.S., with Canada accounting for only 22% share of the market. This is expected to further decline to nearly 19% by the end of the forecast period. 

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While the presence of IoT looks great, its future looks even better.

And more than just a concept that every tech-savvy person enjoys today, it’s also a door of opportunity that needs to be knocked, especially by the startups and other small businesses.

If IoT is to be the future, and it definitely looks to be playing an extremely important role in the coming days, one thing it will bring is more efficiency to the system.

Any and every system out there and small businesses won’t be an exception.

There are still businesses out there that are acquainted with the term IoT, and it’s a serious cause for dismay, for this is absolutely the next big thing in making.

As far as any business is concerned, the data and analytics play a huge role.

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The digital upsurge has allowed businesses to adopt IoT to gain a competitive advantage and provide a better customer experience.

But, IoT benefits can go deeper than revenue and profit growth.

Are your workers excessively engaged in solving inventory-related matters?IoT applications can enable you to manage your inventory by granting some automatic control options.

Similarly, tracking assets in the supply chain with IoT can be an ideal solution to catch the assets that went missing in transit.Installing IoT products and software in your warehouses and storage units can aid you to manage inventory changes.

Apart from allowing greater access to user data, IoT applications can track the patterns in which a user connects with the device.

Further, it helps to segment the customer base, generate customized offers for boosting the customer satisfaction rate, and enhance their experience.Driving Real-Time Insights:Real-time data from processes, devices, and people via sensors is revolutionizing businesses; since visibility into what is really going on can be a game-changer.

‘Mobile-First’ is the term that is changing and prevailing in the businesses now.

The term is itself precise about what it represents.

‘Mobile-First’ means while designing your website, you have to first think of how good it looks on mobile devices.

Yes, the technical term for such design is liquid.

As we move on discussing the ‘Mobile-First Digital Transformation’, you will understand the vitality of keeping a mobile-first approach at the forefront of digital transformation and what you need for the starter pack.

Considering, billions of connected devices online and the facts that suggest the increasing numbers of mobile shopping, there is no way to survive other than having your site liquid, i.e., responsive.

Will the future of software development in 2021 see us using more open source software?

To find out, we reached out to seven software experts and asked them for their predictions.

The results are quite exciting.The future of software development is already here.

Despite this, many companies still insist on developing their products in the old way.

Such organizations are rooted in the past and backward-thinking, which eventually will catch up to them.

We can't accurately predict exactly how things will play out in the future; however, we can make educated guesses using recent events as a basis for doing so.Software development is one of the fastest growing industries there is.

The data received from the wearable devices that monitors your health to the large logistics and transportation company that checks the supply chain stocks, assets tracking all leads to a heap of Big data.

Analysing the data and predicting the future trend and where to focus more are some of the significant benefits it offers.

These smart data visualization tools and technologies helps to slice and dice the data to the minute granular level.

Let’s put on our technical hat in defining the IoT Data visualization techniques.

These real-time graphical data gives the passengers a hassle-free flight experience.

As said before, the big data collected from the various IoT devices, needs to be interpreted for analyzing them to take better business decisions.