The Internet of Things (IoT), also known as the Internet of Everything, is fast becoming a reality across the globe. A wave of devices and objects all speaking to each other, sending and receiving information on a scale never seen before.
It's a trend that has near limitless potential for businesses, and it's capable of impacting nearly every sector. How? The IoT, at the most basic level, means even regular objects like light bulbs can send data – information on power usage, time until the bulb will die and heat. It's easy to see how businesses could take advantage of this trend.
For example, utilities will be able to track power usage across thousands of objects, and IT companies will have no trouble seeing the operating temperature of a server in a data centre in another city.
Like many other trends, failing to jump on board could mean businesses are left behind as the competition surges ahead – taking advantage of a truly unique and powerful trend.
Companies may want to start planning IoT efforts now, as the worldwide market is set to grow 19 per cent this year, according to new research from International Data Corporation (IDC). This is across sectors including consumer, retail, healthcare, government, transportation and others.
In manufacturing alone, the market will grow from US$42.2 billion (AU$53 billion) in 2013 to $98.8 billion (AU$125 billion) in 2018.
However, as with many other trends, jumping on the bandwagon without proper preparation can be disastrous. Businesses could waste money taking advantage of the new technologies and systems, struggling to fully utilise them.
This is where IT certifications such as ITIL are useful, providing a clear set of best-practice guidelines for companies. By educating staff, businesses will have access to a capable team that better understands how to get the most out of a new IT endeavour.