While 2015 was a momentous year for the Internet of Things, big data’s time has only just begun, and 2016 is projected to foster even more development for the IoT.
A number of year-end reports have calculated the overall growth of big data, machine-to-machine technologies and IoT adoption this year and foresee a bright future for them in 2016 as they continue to revolutionize businesses across different industries. Vodafone’s “M2M Barometer 2015” reported that more than a quarter of all companies worldwide now use M2M, so looking forward, this technology is more a matter of “how” than “if,” according to Andrew Morawski, the head of M2M for the Americas at Vodafone.
This idea is echoed by the International Data Corporation’s FutureScape Report “Worldwide Internet of Things 2016 Predictions,” which sees incoming millennial workers as a big factor in IoT growth. Because this generation of decision-makers will expect integrated connectivity and immediate access to information and activity monitoring, they will most likely push for faster deployment and real-time applications. IDC says this will lay the groundwork to accelerate IoT adoption, explaining that IT departments will need to “adjust policies and processes to accommodate this fast-moving demographic.”
According to a research note by Kylie Wansink, the senior analyst for global markets at analyst firm Buddecomm, the global telecoms sector will be especially driven by M2M, big data analytics, cloud computing and IoT in the coming year. But these technologies are expected to have significant impact overall, with Gartner predicting 25 billion or more connected IoT devices by 2020.
While adoption has been an important indication of how these technologies have grown and will continue to grow, funding has been even more telling. CB Insights reported that IoT startups are on-track to have their biggest year on-record for funding, which has more than doubled in the past six years to $1.9 billion in 2014. EY’s end-of-year report found that deals targeting big data analytics, IoT and payment and financial services technologies made the biggest contributions to value during the third quarter of 2015.
These numbers all amount to not only a promising future for cloud computing, but an outline of what’s necessary for the evolution of businesses across all industries. Neil Postlethwaite, the director of the IBM IoT Foundation platform and Device Ecosystem, said that within two years IoT will be the largest source of data, but 90 percent of that will be useless to traditional computing systems.