Top Industrial IoT Trends for 2020

BLOG: Top Industrial IoT Trends for 2020

By: pwilson [at] ztr [dot] com (Paul Wilson)

You’ve likely noticed several IoT market predictions, but what about Industrial- and Construction-related IoT?

OEMs, rental yards and construction industry companies were heavily engaged in discussion and adoption of all things digital in 2019. For 2020, we expect to see a significant increase in connected things on jobsites across the globe including machines, assets, tools and people. Trending into 2020 and beyond, ZTR predicts:

1.  The construction industry will accelerate and collaborate more than ever in 2020 by applying Internet of Things (IoT) technology and services enabled by more access, more demand and influenced by new innovations and sociopolitical forces. 

2.  Industry stakeholders will become more comfortable with, and realize the benefits of safely and securely sharing relevant information within a sharing community.

3.  Companies will move up the digital maturity curve. They'll elevate the adoption of their digital strategy and re-evaluate their future technology requirements and the need for a strong provider/partner.

4.  Extracting OEM machine controller data will be essential in driving the next wave of game-changing industry applications and business value streams.   

5.  With the prevalence of more IoT data from multiple sources, the industry will demand tighter integration with business systems to provide actionable IoT insights where people currently operate.

6.  The industry will extend beyond just sharing data to also include micro-services. These shared micro-services will allow external subject matter experts to be an integral part of the sharing community.

7.  More attention will be given to the need for data standardization and governance.

8.  Investments in securing data will increase.

9.  Pricing models will start to change for certain IoT applications and specific use cases.

10. Further developments in artificial intelligence and machine learning will increase productivity and safety.

It’s clear that sentiments concerning IoT technology use and growth are more positive and progressive than in previous years. The appetite for greater adoption is rising and that means there’s an opportunity for everyone to participate in process transformation, efficiency improvements and innovative developments – with more collaboration than ever before.

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