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Enterprises are still hesitant to adopt IoT, but why?

The Internet of Things market has now become aggressively competitive and most organizations are looking to implement IoT solutions for their business growth. Already, this technology has drastically evolved with more and more devices capable of connecting to the internet.

According to updated reports from Gartner, more than 20 billion individual units will connect to the internet by 2020.

The IoT technology is being incorporated in various industries such as manufacturing, agriculture, retail, healthcare, logistics, supply chain, oil & gas, mining, construction and more. IoT solutions enable machines and people to communicate with each other, thereby making business operations smoother than ever. While many businesses have embraced IoT, there are still many organizations who find IoT adoption an uphill battle.

Let’s check out the five most common barriers to IoT adoption

1. Security concerns

The prime purpose of IoT is to connect devices with each other via the internet. As numerous devices are acquiring connectivity, there are high chances of risks of digital theft, malware ingestion and data breaches. Hackers constantly look for end-users data and this is why industries must implement modern technologies, like biometrics or cryptography to build IoT solutions and protect their data from potential security threats.

2. Network connectivity problems

One of the biggest challenges of IoT adoption is connecting numerous devices. The majority of the organizations which have implemented IoT have a centralized, server/client paradigm to authenticate, authorize and connect different nodes in a network. However, this model is sufficient for the current IoT ecosystem where around tens, hundreds or thousands of devices exist.

On the other hand, when the network grows to billions of devices, then the aforementioned centralized system would become an obstruction. In such a scenario, systems will require huge investments in maintaining cloud servers that can manage a massive amount of information exchange. But then, if the server becomes unavailable, it will take the entire system down with it.

Nowadays organizations are trying to decentralize IoT networks, which mean that they will use edge computing to perform time-critical operations and cloud servers for data gathering and analytics. Yet this model also comes with its own set of challenges. Hence, improper internet connectivity is also one of the many challenges faced by industries in IoT adoption.

3. Compatibility issues

IoT is enhancing in many ways and there is no specific international standard of compatibility that companies developing IoT devices adhere to. So, this makes IoT solution deployment difficult as it might create a requirement of additional hardware and software for connecting devices. Also, companies invest in IoT capable devices from different manufacturers; so there is a certain possibility of compatibility issues between gadgets. And if the IoT capable devices fail to communicate with each other, then companies may have to purchase IoT products exclusively from one single producer until an international standard has been defined.

Some of the other compatibility problems arise from a lack of standardized M2M protocols, non-unified cloud services, and variety in firmware and other operating systems among IoT devices.

4. Lack of resources and infrastructure

IoT devices gather an enormous amount of data. Yet, for industries to gain meaningful insights from the data to make better business decisions there is a necessity of a powerful analytics tool as well as skilled resources. So, organizations cannot implement an end-to-end IoT solution without hiring the right talent.

They also need a workable solution for data storage as it keeps growing. Using centralized data storage for storing real-time data is unmanageable. Thus, companies must migrate to a distributed cloud platform from centralized data storage. Moreover, companies must ensure that they have proper infrastructure that seamlessly manages IoT connected devices, sensors, as well as the data coming from it.

5. Choosing the best IoT platform provider

The majority of companies looking to implement IoT choose to outsource their IoT solutions because finding the right IoT service provider is one of the most critical tasks. Every company wants an IoT platform that offers great scalability, end-to-end infrastructure disaster recovery and optimized results, without compromising on the precision and efficiency. Although, looking for the right IoT vendor that provides the best IoT solutions is like looking for a needle in a haystack.

In conclusion

Though there are many challenges in IoT adoption, it is essential that companies harness the potential of IoT to stay ahead in today’s competitive landscape. If you are planning to adopt IoT but are worried about the challenges you might face, talk to our experts.

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