IT market research agency IDC has shared its predictions for Internet of Things or IoT that will enable enterprise CIOs to plan better.
Vernon Turner, senior vice president of Research, said: “Enterprise CIOs will have to address every IT discipline to effectively balance the deluge of data from devices that are to the corporate network. In addition, IoT will drive tough organizational structure changes in companies to allow innovation to be transparent to everyone, while creating new competitive business models and products.”
# Within the next five years, more than 90 percent of all IoT data will be hosted on service provider platforms as cloud computing reduces the complexity of supporting IoT Data Blending.
# Within two years, 90 percent of all IT networks will have an IoT-based security breach, although many will be considered inconveniences. Chief Information Security Officers (CISOs) will be forced to adopt new IoT policies.
# By 2018, 40 percent of IoT-created data will be stored, processed, analyzed, and acted upon close to, or at the edge, of the network.
# Within three years, 50 percent of IT networks will transition from having excess capacity to handle the additional IoT devices to being network constrained with nearly 10 percent of sites being overwhelmed.
# By 2017, 90 percent of datacenter and enterprise systems management will rapidly adopt new business models to manage non-traditional infrastructure and BYOD device categories.
#Today, over 50 percent of IoT activity is centered in manufacturing, transportation, smart city, and consumer applications, but within five years all industries will have rolled out IoT initiatives.
# Competing to build innovative and sustainable smart cities, local government will represent more than 25 percent of all government external spending to deploy, manage, and realize the business value of the IoT by 2018.
# By 2018, 60 percent of IT solutions originally developed as proprietary, closed-industry solutions will become open-sourced allowing a rush of vertical-driven IoT markets to form.
# Within five years, 40 percent of wearables will have evolved into a viable consumer mass market alternative to smartphones.
# By 2018, 16 percent of the population will be Millennials and will be accelerating IoT adoption due to their reality of living in a connected world.