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IoT Predictions for 2020

There isn’t any doubt that the use of the Internet of Things will continue to grow in 2020 and beyond. Exactly what we’ll see this year and in the future is still taking form, however, so here are some IoT predictions for this year, including plenty of factors to consider as you embark on your IoT projects.

One thing is for certain – manufacturers continue to jump onto the IoT bandwagon, and if you haven’t or aren’t planning to do so, you’ll be left behind.

According to PwC’s 2019 Internet of Things Survey, 93 percent of manufacturers surveyed believe the IoT’s benefits exceed its risks. Also, 68 percent of those surveyed plan to increase their investment in the IoT over the next two years. The most popular uses for manufacturers taking advantage of the Internet of Things are logistics, supply chain, employee and customer experience, and predictive maintenance.

There are still cybersecurity concerns surrounding implementing IoT. According to the survey, manufacturing executives are far more concerned with IoT and cybersecurity when compared to any other industry surveyed by PwC.

In fact, cyberattackers may have a new target for their ransomware campaigns in 2020: product OEMs. In 2020, criminals may go after a company’s products in the hands of consumers. They potentially could block connection or operation of connected products like home lighting or manufacturing machinery until the OEM buys their way out of trouble.

According to Microsoft’s study, the future of IoT is dependent on other technology such as 5G and AI, which will be critical for success in the next two years. Fortunately for you, 2W Tech specializes in both of these technologies as a Microsoft Gold Partner. Contact us today for help with your journey into the IoT.

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