5 IoT Challenges and Opportunities for This Year

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Here are some areas that may prove key to the development of the Internet of Things (IoT) applications within enterprise organizations.

IoT-Challenges-and-Opportunities

IoT Challenges and Opportunities

IoT Challenges and Opportunities-The Internet of Things (IoT) has formed an important part of industrial tech conversations for some time now. Still, enthusiasm for the technology and the applications it enables has not subsided.

Looking at the coming months, there are five areas that may prove key to the development of IoT applications within businesses:

1. Moving from PoCs to ‘PoV’s.

In a proof of concept (PoC), companies test whether a technology, device or process works and performs in certain situations as hoped. Thanks to the PoCs undertaken by businesses over the past several years, IoT concepts and related technologies are now proven and well understood.

However, many are still lacking a business case that demonstrates measurable value. So now, the focus needs to shift from proof of concept to establishing proof of value (PoV) — through projects that allow businesses to see whether an IoT use case can, in fact, either save costs or increase revenue. PoVs, not PoCs, are essential in bringing IoT from the R&D department to operational deployment.

With the economic slowdown, scrutiny of IoT projects will only intensify. In 2020, more than ever, business and technology leaders need to view IoT as one of many tools in a toolbox and learn how to use it in conjunction with other equally important tools, such as analytics, to drive value from it. A saw can cut planks, but it takes a lot more work to build a bridge from them.

2. An internet of sustainable things?

The second area of concern is much more difficult for businesses to combat alone. As the number of IoT devices increases, so does the energy required to power the devices and the data centers they serve. Figures from 2017 suggest that connected devices could account for as much as 3.5% of global emissions by 2027. Given the imperative of combatting climate change, businesses will be hard-pressed to justify such a large energy footprint to increasingly green-minded investors and consumers.

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Article Credit: IW

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