The Internet of Things (IoT) is in your future.
From the Emerging Technologies Blog
by Kevin Coleman
UPDATED MAY 2020 - This blog will appear monthly from now on. Today, all organizations depend on technological innovation in order to sustain their existence. Analysis of emerging technologies and identification of those technologies with the greatest potential is essential to being prepared for upcoming projects. The objective of this blog is to establish future oriented technology analysis and insights. This blog was established to provide program and project managers with information about these emerging technologies. These emerging technologies have far reaching repercussions for program and project managers. This blog will jump-start the learning process and allow program and project managers to become proactive.
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Chances are, nearly all of us have heard of the Internet of Things (IoT) by now. IoT can be many things and that list continues to grow with new innovative ideas being explored daily. Basically, we can think of it as a non-traditional network connected device. To expand upon that, IoT is a collection of billions of physical (electro/mechanical) devices that serve a wide variety of purposes and are distributed throughout the world and are connected to the Internet. It is a device or system that is electro/mechanical equipment with digital input/output. It is a wide variety of network connected computing components. Each with a unique identifier that enables it to transfer data over a network without any other assistance or interaction. That data is received and processed and utilized by a variety of systems/applications and their number grow minute by minute.
The shrinking physical size and cost of microprocessors is expected to propel the global IoT market forecasts. All things considered suggests that the number of IoT devices will grow to around $1.6 trillion U.S. dollars by 2025. That is up from just over $210 billion U.S. dollars in size at the end of 2019. Link: https://www.statista.com/statistics/976313/global-iot-market-size/ It is important to keep in mind that IoT will be influenced by a number of emerging technologies and that includes blockchain technology as well as 5G. Many believe that IoT will have a transformative and disruptive impact on business, government, industry and our daily lives. Given the projected growth, variety of applications and estimated value IoT brings to the table, program and project managers will likely see initiatives involving IoT devices and technologies going forward.
Posted on: January 09, 2020 09:52 AM |
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Comments (11)
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Michael Huber
Senior Project Manager| T-Mobile
Seattle, Wa, United States
Lot of growth coming. Thanks.
Luis Branco
CEO| Business Insight, Consultores de Gestão, Ldª
Carcavelos, Lisboa, Portugal
Dear Kevin
Interesting reflection on the topic
Thanks for sharing
IoT and replacement of mass production with digital printing will significantly change our lives
Not to mention, of course, in artificial intelligence and the 5G
Stéphane Parent
Self Employed / Semi-retired| Leader Maker
Prince Edward Island, Canada
IPv6 was a big step for IoT. We can now assign an IP address to every atom of the planet!
At one point we will have to change the term "microprocessor" to "nanoprocessor", given the reductions since its creation in 1971. (Remember Intel's 4-bit 4004?)
I'm curious whether biotechnology will soon force people to become part of the IoT? Pacemakers and embedded defibrillators can already be accessed over the internet.
Kevin Coleman
Subject Matter Expert, Author, Speaker and Strategic Advisor| - Insights
Pa, United States
@ Stéphane -oh brother does the 4004 take me back :-) As for biotech - we already have IoT devices (other than pacemakers and defibrillators) that are implant under our skin so we have made a fairly large first step to people becoming IoT devices. I did see one that was injected via a large needle hypodermic needle!
Stéphane Parent
Self Employed / Semi-retired| Leader Maker
Prince Edward Island, Canada
Nanotechnology is certainly thriving. Some of the new wireless brain to computer interfaces will really start pushing boundaries. (I wonder if the brain will send HTTP requests?)
Kevin Coleman
Subject Matter Expert, Author, Speaker and Strategic Advisor| - Insights
Pa, United States
@ Stéphane I think it will likely be HTTPS :-)
Stéphane Parent
Self Employed / Semi-retired| Leader Maker
Prince Edward Island, Canada
Wow! My very own Entrust certificate!
Taoufik Eiadeh
Project Manager| Huawei
Abu Dhabi, Az, United Arab Emirates
Michael Cooley
Sales and Project Management| Otis Elevator Company
Douglasville, Ga, United States
An interesting proposition. I am currently researching how the IoT can assist with the management of complex projects in a cloud-based environment. Some ideas I have are status reports on progress. Machine usage reports showing productivity. Can anyone think of more applications? Responses would be greatly appreciated.
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