A multitude of new devices have been connected to the Internet already this year, and many more will connect in the coming weeks and months. That said, the Internet of Things (IoT) gateway has become an important link in the IoT security and device authentication value chain.
The inherent value of data is increasing, and that value is stimulating the Internet of Things (IoT) advanced analytics market, with the emergence of accessible out-of-the-box and off-the-shelf machine learning (ML) and artificial intelligence (AI) solutions.
WEF explores how emerging technology clusters are changing the financial services industry. Artificial Intelligence, Internet of Things, Cloud Computing and 5G Wireless offer new opportunities. Here are three ways in which we will begin to experience the effects of these technology clusters.
With the popularization of mobile robotics in a wide range of industries, more organizations will store the collected data from these robots in public cloud services, and then use that data to train more advanced AI algorithms that enable robot cognition.
“There is a widespread belief that COVID-19 is accelerating legacy software applications and other enterprise workloads moving to the cloud. Our keyword analysis, however, does not show a meaningful increase in CEOs that discussed the topic throughout Q2 2020.”
via IoT Analytics
Secure device authentication currently stands among the top-tier investment priorities for key IoT markets. According to ABI Research, hardware-focused IoT authentication services will reach $8.4 billion in revenues by 2026.
Cloud computing allows oil and gas companies to scale their data management and storage, driving greater flexibility in infrastructure costs. The high computing power delivered via cloud platforms supports the adoption of other technologies such as the intelligent management of physical assets.
More than 70% of survey respondents rate digital twins as an important strategic initiative. By 2023, 65% of global manufacturers will have realized savings of 10% in operational expenses. This comes from digital twins driven by IoT and machine learning.
The 2020 analysis of Internet of Things application areas shows that of the 1,414 public enterprise IoT projects identified, Manufacturing / Industrial settings are most common (22%), followed by Transportation / Mobility (15%) and Energy IoT projects (14%).
via IoT Analytics
The global smart home market size is expected to grow from $78.3 billion in 2020 to $135.3 billion by 2025 — that’s a CAGR of 11.6%. The growth is driven by increasing internet users, the income of people in developing economies, home monitoring in remote locations, and the need for energy-saving & low carbon emission solutions.