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Heading into 2024 and beyond, the world of IoT (Internet of Things) will experience exponential growth, with the number of connected devices projected to reach approximately 17.08 billion. For MSPs, OEMs, integrators and others responsible for end device installation work, this signals a golden era of opportunity and innovation. Keep reading to learn what IoT trends are shaping the industry and how a labor marketplace plays a crucial role in deploying these technologies effectively.
Key IoT trends in 2024: What MSPs and OEMs need to know
- The surge of 5G networks and IoT connectivity: The growth of 5G networks is one of the most anticipated IoT trends in 2024. Offering faster speeds, lower latency, and unparalleled connectivity, 5G is poised to revolutionize how IoT devices communicate, making it crucial for MSPs and OEMs to adapt their installation and service strategies accordingly.
- Predictive maintenance and industrial analytics: Predictive maintenance, powered by industrial analytics, is forecasted to save businesses $630 billion by 2025. This trend highlights the need for MSPs and OEMs to focus on installing IoT devices capable of predictive analytics in industrial settings.
- AI and machine learning in IoT: Integrating AI and machine learning in IoT is transforming data analysis, potentially adding $13 trillion to the global economy by 2030. MSPs and OEMs must be adept at deploying and maintaining IoT systems that leverage these advanced technologies.
IoT in action: Transforming industries through skilled deployments
- Retail and consumer IoT: MSPs and OEMs are vital in deploying retail technologies like smart shelves and RFID systems, which streamline inventory management and enhance customer experiences.
- Healthcare IoT solutions: In healthcare, the installation of smart cabinets and patient monitoring devices by skilled technicians is improving patient care efficiency, an area of growing importance for MSPs and OEMs.
- Industrial IoT (IIoT) implementations: In the industrial sector, IoT devices for predictive maintenance and resource management are key. MSPs and OEMs play a crucial role in equipping industries with these advanced technologies.
The IoT Security imperative
As the global IoT Security market, valued at $8.01 billion in 2023, is projected to reach $30.95 billion by 2030, MSPs and OEMs must recognize the opportunity in security device installation but should also prioritize the security aspect of IoT installations. Ensuring robust security protocols is no longer optional but a critical component of IoT service offerings.
How to capitalize on IoT innovation in field services
The IoT landscape in 2024 presents immense opportunities and challenges for MSPs and OEMs. Field service companies that manage to stay ahead of trends like 5G, predictive maintenance, and AI integration will gain a competitive advantage unlike any other. Restaurants, retailers, schools, manufacturers, and other commercial businesses have only started scratching the surface of what is possible with real-time data powering their insights and decisions.
When the call comes to roll out the next IoT device nationwide, answer with confidence that you have the knowledge and workforce to respond. There is no data without a device to collect it, and MSPs and OEMs will need to lead the charge in this technological revolution. The future is IoT, and it’s time for MSPs and OEMs to embrace and shape this future.
How Field Nation’s IoT tech network will empower MSPs and OEMs
- Access to specialized IoT infrastructure technicians: Field Nation provides MSPs and OEMs with access to a vast pool of technicians skilled in IoT installations. This is critical for ensuring that IoT solutions, especially those incorporating 5G, AI, and predictive analytics, are installed and configured correctly.
- Tailored IoT solutions across industries: Recognizing the varied applications of IoT, Field Nation’s labor marketplace makes it easy for companies to find technicians with specialized skills supporting the specific needs of different sectors, including manufacturing, education, restaurants, retail, healthcare, and more. This enables MSPs and OEMs to confidently offer complete IoT services to their customers.
- Nationwide coverage for scalable deployments: With its extensive network, Field Nation ensures that MSPs and OEMs can execute IoT installations and maintenance across multiple locations, crucial for scalable and efficient service delivery.
A note about our model: Field Nation is a software company and labor marketplace that enables companies to connect with thousands of independent contractors with skills in a variety of work types. Companies are responsible for defining and posting the work, negotiating and engaging the technician, and reviewing and approving each work order. Independent contractors are responsible for entering and updating their platform profiles to advertise their skills, experience, and preferences, as well as choosing when and how they want to work and manage their business.