IoT is fast becoming an essential part of every forward-thinking company’s technology. But why are some still so reluctant to invest?
Rewind to 2016 and just 40% of IT and business professionals associated the term ‘intelligent system’ with IoT. Fast forward to today and this figure rises to 54%. This upward trend is set to continue. As awareness continues to grow, there has been a decrease in the number of people who see IoT as simply an extension of the internet.
The potential and opportunities presented by connected technology are fast becoming clear. For end users, IoT offers limitless opportunities in every aspect of building and people management. From booking desk space to automating HVAC systems, monitoring occupancy and delivering cost and energy savings, it can transform the way you operate – for the better. And as offices move into a post-Covid world, IoT can be a gateway to meeting new responsibilities and compliance with legislation.
For software providers, the opportunities to offer enhanced services to achieve the above benefits for clients are boundless.
What are the barriers to adoption?
While the opportunities might be clear and the uptake increasing, some organisations are still reluctant to embrace IoT technology. Why? Here, we outline some of the top barriers, and how these can be overcome.
1. Cost. While there is an initial investment, the fact is that IoT can impact positively on a company’s bottom line. Data identifying wasted energy use, for example, can directly create cost savings through automated controls for heating, ventilation and air conditioning.
2. Lack of IoT skill expertise. There can still be lingering attitudes that this type of technology ‘isn’t for us’. But that’s a sure-fire way to stagnate, as you watch others embracing and adopting new technologies. If there is a lack of internal expertise, companies can make an excellent business case to bring it in – reduced costs and increased productivity, for starters.
3. Security risks. While it’s wise to be security conscious, there is actually very little risk. Data security standards are very high, and data is much safer being stored on an internet cloud platform than it would be on a personal computer. There is also little chance of data being intercepted – the standard encryption level for most smart-sensor, IoT-connected products is 128-bit, which it is believed it would take even the smartest computer programmes around 100 billion years to crack. If this is the stumbling block to a firm adopting IoT, it could be a good time to look at overall IT infrastructure – no business should decline IoT for security reasons.
4. Regulatory standards. There remains a lack of transparency about regulatory standards concerning IoT. The industry needs clear guidelines on who can access data collected by IoT devices, how this data can be sold to third parties and be used to create new services and products.
5. Connectivity. Connecting devices and data together can seem like an impossible task. With growing numbers of connected systems and devices, companies deploying IoT solutions will have to process large data sets. That’s why we ensure the highest level of interoperability with our sensors.
Ultimately, organisations can benefit immensely from more – and more accurate – data, improved insights, increased efficiency and smoother operation. With any barriers easily overcome, it’s time for all businesses to take the next step… or face being left behind.
If you’re looking for a partner who understands technology – and offers reliable, cost-effective solutions in high volumes – get in touch today.
