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The Digital IoT Era
February 14, 2017 News analytics big data IDC IoT

Machine learning, connected homes, IoT, smart robots and autonomous vehicles are some of the top technologies listed on Gartner’s 2016 Hype Cycle for Emerging Technologies. All these technologies are positioned to make its greatest impacts on society within the next 5 to 10 years. Changing almost every aspect of societal interaction while improving lifestyle from sickness and poverty to travel and longevity. All made possible through Big Data Analytics.

From these technologies, IoT looks to be the one leap frogging its way into consumers lives. In last year’s IDC report on IoT, they had to adjust their earlier numbers in terms of the amount of data that IoT will collect by the year 2025.

Their updated Digital Universe estimate for amount of data collected, forecasts 180 Zettabytes of data to be created annually, jumping from just 44 Zettabytes to be created in 2020.

However, just collecting the data from millions of touch points, isn’t going to make much difference without it being actionable. Without those touch points making its way to a data scientist, it will just be data collecting on someone’s desk.

According to IDC “the volume of traditional data will grow by 2.3x; the volume of data that can be analyzed will grow by 4.8x; and the actionable data will grow by 9.6x” between 2020 and 2025.

Growth of actionable data by almost 10x is no small feat by any measure. And in just 5 years!

The reason? “Everything we have of value will be connected to the internet,” says IDC. Connected devices are expected to jump from less than 20 billion to 80 billion in 2025 with 152,200 new connected devices appearing every minute.

These numbers would mean that businesses need to be investing heavily to create platforms for end point marketing to be effective to the consumer needs. IDC estimates that 35% of US companies dealing in manufacturing operations, fleet management and smart buildings are already at the last 2 stages of IDC’s IoT maturity model. They predict IoT investments by year 2018 will be at $370 billion up from $230 billion in 2016.

Machina Research predicts growth in short range technology too from 71% to 72% of all IoT connections by 2025 dominated by Consumer Electronics, Building Security and Building Automation which sees the short-range applications playing a big role.

They also predict 2.2 billion cellular connections on LTE where 45% will be in the ‘Connected Car’ category, growth from 334 million at the end of 2015. These include both factory fit embedded connections and aftermarket devices.

It stands beyond any doubt that IoT is going to disrupt multiple aspects of consumers lives from how they shop, work, earn and communicate within a very short span of time. Just 5 years ago, paying for items online was considered unsafe, but today payment can be made via waving a handheld device. How much things will change in 5 year’s time will be almost impossible to predict. Aging has almost stopped in comparison with how technology is changing the world. It used to be an age before a new technology or innovation becomes mainstream. But in this digital era, change seems to happen between sleeps.