IDC forecasts that the worldwide IoT market will grow from $655.8 billion in 2014 to $1.7 trillion in 2020, with a compound annual growth rate of 16.9%. This growth will be dominated by the manufacture of devices, and investment in connectivity and IT services. IDC also predicts purpose-built platforms, application software, and as-a-service offerings will capture a larger percentage of the market by 2020. While the IoT managed services market is estimated to grow from USD 21.85 billion in 2016 to USD 79.60 billion by 2021, at a compound annual growth rate of 29.5% during the period 2016–2021, according to a research by MarketsandMarkets research firm.
Designing products and services to be frictionless will lead to more compelling user experiences and greater affinity with the customer. For example, biometric chip in Apple iPhone helps establish seamless user identity & trust to unlock screen, make one-step secure payment to buy apps from app store etc. In this case, there is a 1:1 relationship between user-device and manufacturer of a device enabling frictionless experience for user. But it is not the same in the case of an upscale hotel that has IoT devices (smart bulbs, digital key locks, smart thermostat, connected vending machines etc.) to enhance guest experience i.e., hotel first needs to secure different manufacturer’s IoT devices procured & installed in its premises and rooms. Then establish a temporary trust relationship between guest checking into the hotel & devices in room and when guest checks out remove the temporary trust established at the time of check-in to avoid misuse of devices by guests etc.
The S of IoT networks
The assumption about big data analytics is that if you capture more data and analyze, the more accurate your results will be. But it doesn’t matter how big your data volume is and how optimized and efficient your analytics algorithms are, if the analyzed data is inaccurate from the sources, then it will surely result into inaccurate analytics.
Software Containers like Docker, Kubernetes and Mesos have transformed the Cloud application development scene. Containers are amongst the most talked about technologies on social media channels, online publications and conferences. Most of the big names in web/cloud space like Google, Amazon, Microsoft, IBM, etc. have jumped on this bandwagon.
An eventful week
There has been a lot of security news in the couple of weeks between the RSA Conference in San Francisco and Mobile World Congress in Barcelona. First, Google Security revealed a practical approach for generating collisions for the hashing algorithm SHA-1. While long considered vulnerable, SHA-1 has now been rendered all but useless. Second, security vulnerabilities reportedly cost Super Micro Computer to lose Apple as a client, leading to an 8% drop in the company’s market value. And third, the disclosure of a bug in CloudFlare’s services rendered consumers of web-based services from Uber, OkCupid and other companies potentially vulnerable.
Every organization that builds software products and/or services has been striving to develop new offerings for (or move existing ones to) the cloud, lately.
Start-ups and small organizations see it as an obvious choice, or rather the only viable option, since it helps them save the upfront set-up costs of infrastructure and maintenance, and reduce the time-to-market significantly. Larger organizations with well-established products/services see it as an opportunity to offer greater flexibility and cost efficiency to their customers, hence making their products more competitive and future-safe. It is a win-win proposition for all stakeholders – OEMs, vendors, service providers and customers.