Healthcare, manufacturing, automotive and public sectors going to have massive growth through IOT
This could be a big year in the continued expansion of the Internet of Things (IoT), as many more companies start deploying connected devices and strengthening their network and analytical capabilities in anticipation of the collection of enormous data volumes from countless sources.
Company IoT pilot initiatives and subsequent implementation will continue to develop rapidly in 2019, said Taqee Khaled, Strategy Director at Nerdery, a digital business consultancy.
“This acceleration is partly due to manufacturing advances that have increased processing speeds, reduced physical size and reduced core technology costs,” said Khaled. “However, the barriers to adoption have also decreased, with more and more senior management teams becoming familiar with the value proposition of IoT for the core business.
“At the intersection of IoT and artificial intelligence (AI), the most significant new frontiers will emerge.” By analyzing data through intelligent and learning-oriented systems, more meaningful information is easily and accessibly generated, ultimately promoting better informed business decisions and employee experience, ” said Khaled. ”
As this part of the ecosystem becomes more complex, we expect more third parties to offer managed IoT services platforms. ” The next year’s four industries will be healthcare, manufacturing, the automotive industry and the municipal or public sector. Here’s a summary of Khaled’s expectations regarding IoT developments.
Healthcare is going to see a lot of IoT in 2019. ” IoT enabling amongst providers will be leveraged towards the triple objective of cost, quality and population health, ” Khaled said. Simple, embedded digital tools are already being piloted on a large scale to mitigate the risk of infection with replaceable medical devices, while intelligent threads and sticker or patch sensors have improved fidelity, ranging from cardiac readings to body chemistry and sleep patterns.
Among the payers, IoT offers a distinct opportunity to improve the management of population risk and accompany adjustments in the rate of reimbursement. Long – term care facilities enabled by IoT will be able to negotiate better rates if their sensor data supports risk reduction and mitigation of the likelihood of infection, said Khaled.
The growing wearable fitness equipment ecosystem will help insurers recognize members who take (literally) steps to actively change their individual risk. IoT technologies that support patient medication adherence will help these two groups see significant cost-saving and improved healthcare opportunities.
In 2019, the trends seen in 2018 will continue to accelerate, Khaled predicted. “We’re going to see more manufacturers attempting to use IIoT [Industrial IoT] to bring entire facilities online as fully connected factories, warehouses and distribution centers,” he said.
In some cases, these data will be used to add pilot blockchain ecosystems to ensure more complete production and tracking assurance. As AI interacts with these sensory ecosystems, entire facilities can “learn” to moderate energy consumption and improve efficiency by identifying hidden production data trends.
IoT will further improve the way vehicles traditionally driven and driverless interact with their users on the basis of real – time data. Although the automotive display panel is the most common and long – standing example of basic IoT dashboarding, not much has changed from typical motor, oil and gas tank indicators for decades, Khaled said.
“More of these indicators will not only be available in dashboard readings in 2019, but will also interact more actively with the phones of users, making vehicle management and awareness more common and engaged, ” he said. Outside the vehicle itself, IoT proliferation among vehicle fleets can begin to talk more meaningfully about traffic conditions with smart grids.
Municipal / public sector
Smart towns will leverage IoT beyond the smart grid implementation we’ve seen over the past decade, Khaled said. As alternative energy sources are located in communities, AI – driven grid management will proactively speed up the value of systems. In addition to energy and utilities, more local initiatives will connect residents with their neighborhoods and regions, redefining smart cities to include smart neighborhoods in which municipalities and municipalities invest in IoT to help residents gain insights into local traffic, school buses, power outages, waste collection, weather and other areas.