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The year 2018 is going to be an exciting one for IoT!!!

IoT will be one of the primary drivers of the digital transformation in 2018 and beyond. Using IoT, successful companies will create a self-learning environment. In turn, those will drive digital disruption in the physical world. New business models will emerge, along with changes in work processes, productivity improvements, cost containment and enhanced customer experiences.

Many areas, including healthcare, automotive, smart cities, usage-based insurance, and asset management, will see more interesting projects take off successfully around the world.

With all this in mind, I want to share what I believe will be the top 10 IoT trends in 2018.

Trend 1) Digital Twin

A key tool to improve operations with digital data is the Digital Twin.

Digital Twins are a huge next step in the world of IoT. In brief, the digital twin is a virtual doppelganger of the real-world thing. Important features of digital twins:

Intelligent innovation for connected product development.

Create speed and agility while managing complex lifecycles.

Understand systems-of-systems from within the digital thread.

To improve the quality and enhance the customer experience.

Trend 2) Blockchain

In 2018, Blockchain will play a major role in enhancing security, making transactions more seamless and creating efficiencies in the supply chain.

I expect the coming year will be one in which we see companies start to leverage blockchain in three key ways:

Build Trust: Blockchain can help build trust between the people and parties that transact together. IoT blockchain enables devices to participate in blockchain transactions as a trusted party.

Reduce Costs: IoT and blockchain enable participants to reduce monetary and time commitment costs by ultimately removing the “middle man” from the process. Transactions and device data are now exhibited on a peer-to-peer basis, removing most legal or contractual costs.

Accelerate Transactions: IoT and blockchain enable more transactions overall because it removes the middleman from the process. Organizations reduce the time needed for completing legal or contractual commitments through smart contracts.

Trend 3) Security

As you rely on connected devices to make your lives better and easier in 2018, security is a must. All participants in the IoT ecosystem are responsible for the security of the devices, data, and solutions.

Are You Looking To Develop An IoT Connected Application?

This means that device manufacturers, IoT application developers, consumers, operators, integrators and enterprise businesses should all follow best practices.

Trend 4) SaaS

Many IoT implementations still require on-premise implementations. But in 2018, there will be more (and very clear) instances where Software as a Service (SaaS) is a viable option.

Next year, the predictions are such that more companies choose the SaaS approach to quickly create and prove out a variety of IoT scenarios at lower investment levels.

Major benefits that SaaS brings to an IoT deployment:

Organizations will realize benefits more quickly.

There’s a lower cost of entry.

There’s also increased flexibility.

Trend 5) Cognitive Thinking

The Internet of Things is at the threshold of a tremendous opportunity. For over a decade, things are being connected with unique IP addresses. But the commoditization of sensors, processors, and memory now make it possible to makes everyday things more than just connected … they can be intelligent.

Continue reading the article athttps://magnetoitsolutions.com/blog/internet-of-things-trends