8 IoT Roadblocks

Almost everyone agrees that the Internet of Things will destabilize consumer relationships, company models, and even entire sectors. Companies strive to be ahead of the competition. There’s just one problem: adoption barriers prevent many businesses from embarking on their IoT solutions journey.

Insecurity Blanket

The most frightening impediment to IoT solutions is a lack of security. Many initiatives are being put on hold due to the greater exposure of information via IoT. According to the experts at Akenza, half of the firms consider security as one of the most challenging hurdles to realizing the potential of IoT. Will IoT gadgets be compromised?

Stalking the Elusive Business Case

According to the experts at Akenza, one of the most prevalent hurdles for innovative city initiatives is developing a business case. Companies have difficulty answering the question, “Why should we adopt IoT?

Hodgepodge Tech

Interoperability with existing infrastructure is a significant difficulty. Before implementing IoT solutions, businesses must ensure that their present IT environments can handle them. Indeed, many companies turn to channel partners to determine whether their current systems and networks are ready for IoT solutions deployment.

Serious Skills Shortage

What is the Internet of Things’  little secret? The answer is a lack of technical skills. Companies will require elite personnel, from security professionals to data scientists to engineers, and will be ready to pay for it.

Where’s the Money?

Even though there is a lot of interest in IoT platforms, many projects fail due to a lack of funding. Putting connected sensors on things, collecting data, and acting on the data all cost more than most people believe. According to research, over one-third of industry professionals believe their organization has difficulty funding industrial IoT technologies. Cities that want to establish IoT platforms confront similar challenges.

Caught on the Bleeding Edge

Embracing new technologies, such as IoT platforms, may place businesses on the cutting edge. What if the technology isn’t quite ready? It is a huge issue in China, where corporations lead the globe in IoT adoption. According to the experts at Akenza, 36% of Chinese decision-makers are concerned about the maturity of IoT technology.

FUD Factor

Companies who want to go on the IoT platform aren’t sure where to start. Four out of five corporate executives agree that successful industrial IoT adoption is essential to the future success of their organization. Yet, only one out of four has a clear industrial IoT strategy.

Data Deluge

The tremendous promise of the IoT platform is also its most significant risk. We’re discussing utilization statistics. IoT collects and generates a wealth of valuable usage data, but it’s all for naught if you’re unwilling to use it. In other words, the data flood can overwhelm you.

Lastly,

If you remember one thing from this article, let it be the firms that are most successful at adopting and delivering IoT solutions. They use specialists who have done it all before to avoid pilot purgatory, shorten the time to benefit from months to weeks, and eventually scale the technology across the firm to maximize value. Contact Akenza today for more information on how your firm can maximize the value of an IoT implementation.

IoT is a network of dedicated devices called “things” deployed and utilized to collect and share real-world data with the help of the internet or other networks.

The internet of things provides enterprises with real-time information and business insights that, when implemented, can help them become more productive.

The possibilities for connecting our planet are endless. It comes down to awareness, cost, and complexity. Akenza thinks that we can accelerate IoT adoption in the market by considerably reducing the work and complexity that organizations encounter while designing IoT solutions.