IDC estimates that there will be 41.6 billion connected IoT devices, or “things,” generating 79.4 zettabytes (ZB) of data in 2025. Gartner forecasts that the enterprise and automotive IoT market will grow to 5.8 billion endpoints in 2020, a 21% increase from 2019. IDC predicts that by 2023, over 50% of new enterprise IT infrastructure deployed will be at the edge rather than corporate data centers, up from less than 10% today; by 2024, the number of apps at the edge will increase 800%.
The oil and gas industry today faces four key challenges: volatile commodities, workforce retirements, low carbon economy, and shifting geopolitics. Culminating in its new era of operational efficiency, digital transformation serves as the answer for cost reduction and revenue increment.
As the industry struggles to successfully scale up digital across global operations, we provide a framework for identifying applications that hold potential for enterprise-wide deployment to avoid scale-up failures. From our analysis, we conclude that while the majority of applications do offer ease of scale-up, not all of them produce high financial gains. A handful of applications instead contribute to other value drivers, such as sustainability.
Moving forward, as the digital transformation of the industry matures, we anticipate more operator-operator digital collaborations, creation of data marketplaces, inception of “tech” oil companies, and disruption of traditional service companies by major software giants.
IDC 2020 predictions for the Internet of Things (IoT):
In 2020, 90% of organizations will have determined key performance indicators to measure the success of their IoT projects.
By 2021, 75% of organizations embarking on an IoT project will work with a systems integrator to strategize, plan, deploy, and/or manage the initiative.
By 2022, 70% of new enterprise IoT applications built on IoT platforms will leverage container deployment.
By 2023, 70% of enterprises will run varying levels of data processing at the IoT edge. In tandem, organizations will spend over $16 billion on IoT edge infrastructure in that time.
By 2023, 20% of cybersecurity incidents will stem from Smart City IoT device deployments, forcing double-digit increases in cybersecurity software and staff training budgets.
To lessen critical equipment failures, by 2024, 40% of manufacturers will use field asset IoT data to intelligently diagnose issues and resolve autonomously, improving unplanned downtime by 25%.
By 2023, 70% of IoT deployment will include AI solutions for autonomous or edge decision making, supporting organizations’ operational and strategic agendas.
By 2025, there will be 79ZB of data created by billions of IoT devices, causing organizations to reevaluate their data governance, retention, and usage policies.
By 2025, 60% of manufacturers will use IoT platforms with digital innovation platforms to operate networks of asset, product, and process digital twins for a 25% reduction in cost of quality.
By 2023, enterprises will struggle to manage all the different access types used to connect their IoT endpoints, with 75% adopting more than one connectivity type.
Axios: The economics don’t mode well for the theater chains, but they aren’t miserable either. U.S. cinema revenue continues to plateau as ticket prices increase, suggesting that theater-viewing isn’t dead yet. Digital movie-viewing, however, continues to skyrocket.
eMarketer: We forecast that 577.4 million people in China made a purchase via proximity mobile payment within a six-month period this year. Those users account for 49.6% of the country’s population. In 2020, more than half of the population will utilize this payment method, with that figure rising to 60.5% in 2023.
WSJ: AI-related applications to the US Patent Office grew to about 3,800 in 2018 from roughly 3,200 in 2017 and about 1,900 in 2014.
The focus for IDC’s 10 predictions for next year and beyond is the rise of the digital economy. By 2023, IDC predicts, over half (52%) of global GDP will be accounted for by digitally transformed enterprises. This digital tipping point heralds the emergence of a new enterprise species, the digital-first enterprise.
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Recent surveys, studies, forecasts and other quantitative assessments of the progress of AI highlighted the growth in consumers’ acceptance of chatbots, especially for help with routine tasks; questions about medical AI algorithms missing the worst patient outcomes; and new predictions for 2020 and beyond about the future of AI and work.
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If a company has gathered information about you in a secure manner, would you feel comfortable using a chatbot that does the following things:
Source: LivePerson
