So far we looked at the expanding market and rapid growth of IoT and also the scope of IoT, and you might have understood that it’s only going to increase. There’s no way humans are going back to generic or basic devices which were not so “smart”.
With more devices connecting to the internet, the security and privacy of the users are also at stake. Smart devices also collect and store the personal information of the users, along with other details. The risk of cyber attacks has also increased, making the devices and sensitive information vulnerable. Thus developing appropriate and building a strong security force should be taken as a priority.
Billions of devices will generate data that can be overwhelming and hard to handle if the businesses are not prepared to handle it properly. Along with this, analysis and drawing insights can be challenging without proper analytics tools and expertise.
Installing IoT systems can be costly as it requires notable investment in all the aspects of the channel, i.e., hardware, software, resources, and infrastructure. Also, different devices from different manufacturers have to work smoothly in order to provide a comfortable user experience.
We shouldn’t get scared or skeptical after reading these challenges, as with emerging technologies, we will also figure out how to deal with these risks. IoT is offering many benefits, and we should be aware of all the faces of the technology.