The FreshinUp team spent the past several years becoming industry experts and architects of Internet of Things (IoT) projects and are continuing to develop our IoT technology solutions and strategy for clients in 2019.
So what exactly is IoT, and why do technology product brands need it? An IoT platform uses data and functionality to allow users the ability to control their physical devices that would normally be operated from direct human contact from their iOS or Android phones. While IoT solutions gained some traction in the 1980s and 1990s, the technology simply wasn’t available and companies weren’t ready to invest in it.
However, with the growth of the Internet and smartphones, IoT has become a necessary investment in order for technology product brands to keep up with their competition. It’s predicted that investments in IoT development with surpass $1 trillion by 2020 and continue at a growth rate of 30% until 2023.
With this continued growth and escalating demand for IoT functionality, here are a few IoT trends to pay attention to in 2019:
Focus on security
With 80% of customers who use IoT devices citing lack of trust in the security of their information, privacy and security will continue to be an important focus when developing IoT platforms in 2019. It’s reported that the top concern for companies regarding their IoT platforms are security and privacy over cost and regulation. Companies who utilize IoT technology will need to continue to turn to experts who can assess risks, implement encryption and authentication, and implement technology that can scale for demand.
Interest in expanded product offerings
As the concept of IoT continues to change, the need for the development of simple platforms will grow into a much greater demand for all-encompassing technology offerings. IoT builds will need to begin to expand into solutions that include “analytics, data, analytics, workflow, business process, and insight with recognizable and quantifiable value” as companies seek one-stop-shops for their technology solutions.
Expertise on IoT will continue to be scarce
Since IoT technology still has gray areas, there is a lack of trained IoT experts who possess clear rollout strategies and UX and UI design expertise. It’s reported that 68% of companies that offer tech products are having difficulties finding IoT experts for their platform development.
If you are interested in learning more about how FreshinUp experts can develop your IoT platform, please reach out to us. We can provide a consultation and same-day estimate.