Eight IIoT predictions for 2018
We have seen an enormous amount of progress in the industrial ecosystem in 2017. The ever evolving landscape of Digital transformation is in full speed providing many exciting new business models as well as providing solutions to some of the problems that have plagued traditional industries since their inception. We see longstanding business models reinvented as more businesses are realizing the need to digitally transform their businesses. We're also starting to move from pilots to ROI as the adoption of connected devices is accelerating industries like manufacturing and energy according to a recent Verizon study.
Momenta Partners is committed to helping our clients, partners, and stakeholders navigate this evolving landscape and deliver sustainable value from Connected Industry. To achieve this, we keep our finger on the pulse regarding industry trends and developments. Here's what we see as the 8 key developments for 2018 in IIoT, with suggested resources to enable you to learn more:
Prediction No.5:
Blockchain gains ground in IoT
Few could doubt that 2017 was the year of crypto assets with bitcoin and ICOs being the biggest financial winners. But in 2018 we expect to see growing focus on blockchain for IoT and more transitions from pilot project to enterprise product as early adopters reveal the outcomes of their efforts. Some will fail to provide compelling use cases, but others will provide interesting benefits to utilities-including peer to peer energy trading, M2M payments and shipping and logistics.
Companies like IBM and Gospel Technologies are already using Hyperledger for production applications in manufacturing and supply chain. With the Ethereum network straining under the load of CryptoKitties mania in December 2017, we expect more focus on Distributed Ledger Technologies like IOTA and Hashgraph promise to bring new levels of scalability through a lightweight framework. While the technologies are nascent, they show a lot of promise for IoT use case.
Suggested resources:
Webinar: Blockchain and Connected Industry: Applications and Implications
Momenta: Two-part series: The convergence of blockchain technology and IoT is ripe for enterprise solutions
i-Scoop: Blockchain and the Internet of Things: The IoT blockchain opportunity and challenge
Stay tuned for our 6th prediction in our Eight IoT Themes for 2018.
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