The Internet of Things (IoT) has been around for quite some times among the headlines. The concept is to involves embedded computing devices interconnected with the existing Internet infrastructure seems like need times to adopt. Is it here yet?
IoT prediction includes 30 billion units installed by 2020, nearly $6 trillion will be spent on IoT solutions over the next five years. The challenge for organizations that want to exploits the IoT is to architecting this immature industry and managing the risk it creates. Because IoT demands an extensive range of new technologies and skills that many organizations have yet to master.
In the several years ahead, IoT would look totally different than it does today. Considered as a green market, IoT would attract new players with a whole new business models, approaches, and solutions to overtake incumbents.
Research firm Gartner told that IoT need a new approach to analytics. The currency of IoT will be data if only the masses of data can be translated into insights and information which can be converted into concrete actions that will transform businesses, change people’s lives, and effect social change.
Another consideration is the increasing digitization and automation of the multitudes of devices deployed across different areas of modern urban environments are set to create new security challenges to many industries. IoT is exciting but it demands to build great software and hardware with a sophisticated backend with multiple security levels. Most companies don’t have the talent they need to develop secure products.