How The Internet Of Things Will Embed Within The 2020 Marketplace
In this blog series, we examine the technology trends which will impact our core sectors in 2020. This is to make sure that our clients attract the best talent, while introducing our candidates to a host of unprecedented roles.
Our research from Wikibrand’s Digital Periscope study of 30 emerging technologies and Mobile Daily App’s top tech in 2020 showed that IoT will continue to integrate with the job market. This will lead to the creation of a series of innovative roles that allow companies and candidates to make a mark in their respective fields.
IoT is rapidly pervading all aspects of our lives and is poised to cross over into mainstream business use. In fact, over 80% of large companies around the world are adopting IoT solutions, which is stoking an ‘invisible revolution’ that will reach a staggering 94% of enterprises in just two years, according to a new Microsoft survey, IoT Signals.
Meanwhile, the worldwide number of IoT connected devices is projected to increase to 43 billion over the course of 2020 through to 2023. This represents an almost threefold increase from 2018.
The continued improvement of the technologies which support the IoT has seen its continued adoption and proliferation. These advances means that IoT technology will become more accessible and easier to implement and more enterprises will be able to benefit from what it has to offer.
Larger companies began to invest in IoT technology several years ago but its growth means that small and medium-sized enterprises will also now be able to take advantage of it. As a result, all businesses operating in the IT and electronic engineering sectors should regard IoT as an application which can add significant value.
Adopting IoT means that companies are not left behind in the ever changing digital sphere, where IoT applications promise to bring immense value into our lives. To really leverage this, businesses need to be aware of the roles the IoT will create, the technologies candidates need and how to attract the best talent. To that end, this is what IoT has to offer:
Advanced technologies and a rise in the use of devices have contributed to the rise of IoT. In fact, according to market intelligence expert IDC, investments into IoT technology are predicted to grow at a rate of 13.6 per cent by 2022, resulting in a worldwide spend of $1.2 trillion. New sensors, increased computing power and ever more reliable mobile connectivity will see growth fuelled further.
The sensor technology which is embedded into IoT devices will become more cost-effective, advanced and widely available, paving the way for the introduction of new and more sophisticated applications. Meanwhile, computing power has increased 100-fold in the past 15 years, as observed by Moore’s Law. Applications including AI and real-time analytics will shift activity away from local devices and towards cloud and edge computing. The advent of 5G, which gives rise to increased mobile connectivity, will unlock applications for experiences such as VR and AR.
IoT will also grow because existing IT devices will need to be connected to it. After all, a currently installed base of more than five billion smartphones, two billion personal computers and one billion tablets, as calculated by Gartner, represents a massive opportunity for device integration. This will, of course, need to be supported by the best professionals that the sector has to offer.
Scope of applications
The IoT already has more than 200 known applications which are tailored for businesses. These are by no means limited for use by large companies with early adopters having scaled solutions to meet their own commercial requirements.
In fact, IoT technology has enabled the birth of landmark applications across a plethora of areas, including smart cities, smart homes, connected cars, e-health and wearables such as smartwatches and fitness trackers, meaning that its capabilities are endless.
Advances in IoT technologies mean that both our core and vertical sectors are privy to improved functionality. This has opened up a wealth of opportunities for progressive new roles which require highly specialised skill-sets from the top candidates to successfully tackle them.
If an IoT career appeals to you, please get in touch with our team so that we can help you to find your dream job.
Stay tuned to the Oho Group blog for the rest of our insights into 2020’s key technology trend predictions.