Global IoT landscape: Understanding IoT solutions for a secure, connected future

The Internet of Things (IoT) offers transformative potential for businesses and is the foundation of Industry 4.0. By using connected devices to collect, share and analyze data, companies can reduce error rates, improve operational performance and uncover insights that inform new business opportunities. Businesses continue to expand their use of IoT.  According to Gartner^®, "With a forecast of 991 billion USD in 2028, providers can understand the spending levels, growth rates and regional trends to align their strategies and offerings."¹

Growth aside, IoT device OEMs and solution providers face new technology considerations, regulatory changes, market access coordination, security threats and device management challenges. The IoT is a complex landscape. And when nearly any piece of equipment or technology can be turned into an endpoint, your IoT network can be as unique as it is complicated. With the ongoing intricacies and barriers to entry in mind, it's worth examining the IoT solutions and opportunities that make it a worthwhile endeavor.

IoT solutions: What they are, how they work and benefits for business

The Internet of Things is a vast network of interconnected, interoperable devices. These devices can capture and exchange data across both IoT networks and the cloud, allowing companies on-demand access to data from multiple sources. Any device that can be assigned an IP address and can transmit data could be part of an IoT network. Examples range from food delivery trucks equipped with temperature sensors to manufacturing machinery with embedded devices that continuously track, monitor and report performance.

IoT solutions and networks offer several benefits for businesses. First is the ability to capture and view data in near real-time. In the case of a production facility, for example, an embedded IoT sensor might detect periodic issues in machine performance that indicate the need for parts replacement or proactive maintenance. In an office setting, IoT devices can track HVAC, lighting and power usage to help reduce the total cost of operations.

And these benefits aren't just theoretical: According to the Verizon Mobile Security Index (MSI), 62% of companies now have mature or full-scale IoT deployments in place.² For businesses deploying IoT networks at this level, a solution like the Verizon ThingSpace platform can be a useful tool.

Considerations for global IoT

As businesses continue to grow and intersect, global IoT is not only essential but also inevitable. Capabilities like remote monitoring, near real-time data collection and intelligent infrastructure will transform industries from healthcare to agriculture to manufacturing. IoT connectivity is dependent on a number of key technologies, including satellite communications, Wi-Fi and cellular networks.

Global organizations will likely look to expand their IoT networks accordingly. As they work to leverage the technologies available to them, there are a number of key factors to consider:

• Security: As more devices are added to the IoT network, the attack surface grows. Proper security measures are essential to secure every endpoint.
• Device compatibility: Understanding global device standards, and managing more devices and platforms for seamless communication.
• Product strategy:  Designing products with minimum SKUs and maximum agility to work in multiple markets.
• Regulations and contracts: Different regions and countries have their own laws for data collection and privacy. International networks must remain compliant with all of them.

Current trends in IoT

While initial IoT solutions focused primarily on the capture and evaluation of sensor data, new trends are on the horizon.

One trend to watch is the growing adoption of artificial intelligence (AI). First-generation IoT devices are great at collecting data but typically not as adept at determining if this data is useful. That means analysis tools and data analytics experts have to sort through mountains of data, much of which is of limited use. As AI frameworks improve, however, new devices are better equipped to pinpoint actionable data.

Recent data also shows a trend toward cellular IoT facilitated by eSIM and iSIM technology. This technology is increasingly recognized for its innovative potential, using hardware-based solutions to facilitate remote SIM provisioning, global connectivity and enhanced security. By 2023, 650 million eSIM-capable IoT modules were installed, with accelerated growth expected in 2025.

According to the Gartner® 2025 Top Strategic Technology Trends report, another trend on the horizon is the development of polyfunctional robots.³ "By 2030, 80% of humans will engage with smart robots on a daily basis, up from less than 10% today," the report noted. These robots will be able to perform multiple tasks, switching seamlessly between them. As part of a larger IoT network, these robots could help companies pinpoint inefficient or redundant processes and modify them to streamline operations.

Global IoT data processing is also shifting closer to the edge. While first-generation devices typically send data to the cloud for processing, newer IoT technologies can handle some or all of this processing at the edge of business networks. This reduces the time required for companies to generate and act on IoT insights.

Emerging use cases for the Internet of Things

The evolution of AI and edge computing, combined with improved IoT connectivity, enables new use cases for the Internet of Things.

Healthcare wearables, for example, are now capable of monitoring key vital signs such as blood pressure, oxygen level and heart rate. With permission from patients, doctors can use this data to create personalized treatment plans.

The advent of more robust and reliable 5G networks, meanwhile, can help make it possible for companies to expand the impact of proactive maintenance with IoT. Consider a large-scale manufacturing facility. Managing devices in central production plants is no problem with Wi-FI networks, but is more challenging the farther devices are from signal sources. 4G and 5G can also support always-on and in-field mobile use cases.

The IoT threat landscape: Navigating the growing risks

As the IoT ecosystem expands so does its potential attack surface. As companies implement more devices across more networks to collect more data, it is increasingly difficult to both discover and respond to security risks. Verizon Mobile Security Index (MSI) reports that almost all survey respondents (95%) have some form of IoT device and 62% have mature or full-scale IoT deployments.⁴ Even so, 31% do not have systems in place to track all IoT devices in their organization.⁵ Connected devices are now used in everything from production line manufacturing processes to data collection, analysis and proactive maintenance. As a result, both the number and variety of IoT devices are on the rise. Many of these devices are either connected at the edge of business networks or rely on the public cloud for some or all of their functions. Here is where a single pane of glass approach, supported by Verizon’s Thingspace, that combines data from multiple sources into a single display can be beneficial.

Securing connected devices in an expanding IoT ecosystem

To secure connected devices in expanding ecosystems, businesses need scalable IoT device management. In practice, this means securing IoT devices against data breaches and interrupted operations, both of which can be expensive and time-consuming to address.

Accomplishing this goal requires both specific security actions and an overarching management approach that provides continual device visibility. Key components of IoT device management include:

• Encryption: By encrypting data in storage, in transit and in use, businesses can limit the impact of data exfiltration in the event that IoT devices are compromised.
• Device authentication: By requiring both devices and users to authenticate before gaining access, enterprises can better avoid credential-based attacks.
• Patch management: By ensuring that IoT software is always up-to-date, companies can stay ahead of emerging security threats.

When it comes to visibility, meanwhile, businesses need management platforms capable of providing a single source of truth for devices. This often takes the form of a console or application that allows IT teams to easily view the security status of any device and receive automatic notifications if potential threats are detected.

How to simplify IoT deployment and IoT connectivity

As IoT device management becomes more widespread and more complex, organizations require a more rigorous approach to IoT cybersecurity to protect IoT connectivity. Yet 53% of firms lack centralized oversight of all IoT projects.⁶

This is, in some ways, to be expected. Securing IoT connectivity poses a number of challenges for businesses.

• Interoperability: Multiple devices and platforms must maintain connectivity even from different regions and countries.
• Scalability and efficiency: Networks need to be expandable into new networks without requiring multiple external resources.
• Costs: Optimizing devices and connectivity is a costly endeavor.

A trusted partner can help firms meet their global IoT orchestration goals. The Verizon ThingSpace platform, for example, supports companies in creating connected environments that allow them to scale up globally, wherever they are on their IoT journey. ThingSpace IoT solutions are trusted, secure, proactive and easy to manage. Organizations can build their own IoT solutions by collecting the SIMs and hardware they need to get started, connecting their devices to the Verizon network and managing connectivity through the ThingSpace platform. Or, enterprises can leverage Verizon's ready-made and customizable solutions for robust IoT orchestration.

Ready to take on Global IoT orchestration? Discover how the Verizon ThingSpace platform can help deliver global IoT, and help manage devices and plans for all IoT devices.

The author of this content is a paid contributor for Verizon.