With up to 75 percent of remote device management projects deemed “not successful,” in 2020, IoT deployment has been limited in realizing its full potential.
Path to IoT project success
However, a new wave of affordable silicon that provides a wide array of features and functionality, in conjunction with the maturation of pre-packed software, will lead to a substantial increase in IoT project success in the upcoming year, predict experts at Sequitur Labs.
According to Verified Market Research, the global IoT market size was valued at $212.1 Billion in 2018 and is expected to witness a growth of 25.68% to reach $1.3 trillion by 2026.
While there are many reasons for IoT deployment struggles, the most common ones involve project complexity, lack of required skills and the inability to implement effective security.
With recent improvements that enable vendors to implement a new generation of functionality into their solutions and device updates, ensuring a substantial increase in the success of IoT projects.
Being heavily involved in the IoT security space, there are several advancements in 2021 that are expected to move the industry forward in several key areas.
Improved industrial IoT remote device management and control
COVID-19 has not only forced people to work remotely, it has also accelerated the need to configure, control and manage industrial devices remotely as well. As a result, the vast majority of industrial end points are expected to support IP-based networks (like Ethernet and Wi-fi) rather than purpose-built networks (for example, Modbus or Profibus).
The devices can be connected to the internet, and as such will also require the ability to boot safely, update securely, enable system recovery, secure sensitive applications and data storage.
Increased cloud integration
Smart device platforms from Google (Google Assistant), Amazon (Alexa) and Apple (Apple Homekit) have emerged as the central communications point in the connected home. Each of these vendors require compliance from their ecosystem partners in order to join their solution.
With the number of connected devices in the home accelerating, the need for device security will become more critical than ever in the coming year.
Increased deployment of IoT for medical devices
Medical products such as remote monitoring devices and sensors for medical equipment are accelerating in adoption. The benefits include lower medical management costs, reduction in hospital stay time and effective equipment monitoring.
The risk of a corrupted or compromised device is high in this industry, and as sheer volumes of remotely monitored and controlled products increase, so do security needs.
Device authentication, secure monitoring for updates, maintenance and health diagnostics, and protection against remote attacks will drive the need for purpose-based solutions in this industry.
“There is huge potential in the deployment of IoT devices into industries that will improve the way people work, communicate and live. However, successful implementation will be limited if these devices cannot be used securely,” said Philip Attfield, CEO, Sequitur Labs.
“The advances in securing remote devices over the past year will lead to incredible innovations in the marketplace, expected to accelerate artificial intelligence and significant technological benefits at the edge.”