Analysts at Markets and Markets predict that IoT will grow to 661.74$ billion by 2021. It’s expected that Software solutions will dominate the IoT market during the forecast period. This will directly impact the development of smart mobile apps of things, since after all, IoT devices are for the most part controlled by smart phones.
Internet of Things Continues to Grow
This expected growth is driven by the increase in adoption of connected devices and smart technologies.
Data management solutions is another area that is expected to dominate the IoT software solutions segment during the forecast period due to the generation of huge data through various devices from various locations. Additionally Security solutions are expected to witness the highest growth rate during the forecast period as the security of devices, applications, and the network is one of the major challenges that organizations are facing these days.”
We’ve Become Mobile Dependent
Adults from the age of 25 use their phone about 264 times a day, while people aged 15-24 touch their phone 387 times a day. If we consider an average person sleeps 8 hours a day, and is awake for 16 (960 minutes a day on average), this means that when we are awake, we touch our phones every 3 minutes (when we’re 25 and above) and 2 minutes when we’re younger, sounds crazy right? But those are the facts. Hence, use of our mobile and mobile apps is not going to get reduced, just the opposite. If we feel that we need our mobile phones today to get things done, it will be close to impossible to go through our daily lives without the use of our mobile devices.
Consumer-Driven Experiences and Interactions
In 2017, the thin line separating between B2B and B2C continues to grow thinner, as a new phrase, “B2H” or “H2H” (B=Business / H=Human) will continue its penetration to the industry. Businesses will eventually look at their customers as humans, whether they are selling enterprise software or consumer electronics, which will change their overall approach to the business itself- marketing, product and all.
We can already see this in business apps, as employees continue to shy away from using clunky enterprise software in favor of more simple business apps. According to TechRepublic, “Employees expect the ability to complete simple tasks through micro apps, that enable one-click task completion from anywhere. Similar to social media apps, these simple apps will alert employees when something requires their immediate attention through notifications and a personalized feed of actionable activities.” If you need some examples of this, just think about (1) the rise of the chatbots (both for businesses and consumers), (2) how the smart home is and will be controlled by both mobile apps and voice interaction and (3) the new rivalry between “Facebook Workspace” and “Microsoft Teams”.
- Both the internet of things and use of our mobile phones will increase respectively in 2017.
- Business models for IoT will deepen and diversify
- Consumer-driven experiences will rule
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