One of the world’s leading IT research and advisory companies, Gartner, Inc., estimates that as many as 5.6 billion Internet of Things (IoT) devices owned by enterprises and governments will utilise edge computing for data collection and processing in 2020, whilst by 2019, as much as 40% of all IoT collected data is expected to be stored, processed, analysed and acted upon close to or at the edge of the network.
It is perhaps still early days in terms of the electronic security industry fully embracing the undoubted benefits of IoT, but what can we learn from other sectors?
Within the food, pharmaceuticals and utilities sectors, IoT, is considered by many to be a seismic technology shift. However, it is recognised that success lies with an infrastructure which can be trusted. The priority has therefore been to lock down the reliability and security of the network which is connecting all IoT enabled devices. Having achieved this, operational management can concentrate on identifying those IoT investments which will return powerful benefits to their business. In manufacturing and energy, the primary benefits will be efficiency and productivity gains. Financial services can expect improved performance, data integrity and business agility.
One of the hallmarks of IoT is the gathering of data from a wide range of sensors and systems to gain valuable insights. This distributed intelligence is central to improving production efficiency, enabling predictive maintenance, and sparking innovation. Many industries have already seen this. Oil and gas companies, for example, use data collected from sensors at remote pipeline compression stations to run analytics that detect early signs of component failure. With advance warning, these companies will be able to shrink maintenance windows and avoid costly unplanned downtime.