IoT in 2024 - waiting for the great leap forwards?

8 years ago experts were predicting the IoT market would be worth $6 trillion next year. That means it has to quadruple in 2024 - that's a bold new year's resolution!

Even the experts have rolled back. McKinsey now forecasts the IoT market might reach $5 trillion by 2030. So what went wrong?

Key barriers to the forecasted growth include installation, change management, and ongoing maintenance of kit. Here are 3 practical new years resolutions we're taking:

1. In 2024 we will protect our customers from the horror show of registering devices, installing crappy apps to configure sensors, decoding payloads and feeding dashboards.

2. We will select off the shelf sensors, and (where necessary) design our own devices that will last for years, and will absolutely minimise any re-visits, which we know can quickly destroy your business case.

3. We will keep pushing to use IoT to answer harder questions and give you valuable predictions and alerts that your services areas can rely upon.

...and one we'd suggest (with love) for IoT sensor providers: get professional help with your documentation, your current efforts are awful.

After 8 years of progress there are still sizeable mountains for IoT to overcome before it can truly deliver on all that it promises.

Luckily it's ski season and I can't wait to hit the slopes. Who's in?

#iot #smartcities #lorawan