As the IoT sector grows rapidly, there are challenges such as threats to cloud, scalability, lack of standardization, and others that need to be overcome to realize its optimum potential.
Internet of Things (IoT) has become a widespread cutting-edge technology with implementation in connected homes, traffic management, smart grid, and others. The technology has been advanced and human lives have become easier and efficient. The growth of implementation of IoT devices is gaining momentum in recent years and it will take more strides in coming years.
The San Francisco-based firm Cisco outlined that there would be at least 50 billion connected devices by 2022. The IoT devices will also become more powerful with tech trends including Digital Twin, SaaS, Cognitive Computing, Blockchain, and others. According to the research market firm Progressive Markets, the global internet of things market is expected to grow at a CAGR of 32.7% from 2017 to 2025.
Despite the growth, there are challenges in IoT that cannot be overlooked. If these devices are exposed to threats, it will impact the development and ruin human lives. These challenges also provide potential opportunities for solution providers to offer products and services to address the concerns with the implementation of IoT systems.
Here are few challenges with IoT that needs to be overcome in coming years to realize the maximum potential of the marvelous technology:
Attacks from cloud
As IoT devices generate a huge number of data, it is obvious that it will be stored on the cloud. So, the cloud platforms will be the primary targets for attackers. Though the issue has become a widespread and awareness has grown significantly, the security is still not par as compared to the potential of the threat. The takedown of the single cloud provider would be responsible for the economic loss of nearly $50 billion to $120 billion, according to the report from the World Economic Forum. The additional methods and technologies must be developed to prevent attackers from stealing the sensitive data.
Connectivity management issues
There will be billions of devices connected to the internet and interconnection will present new unforeseen challenges. The connectivity management issues will be a headache for organizations as the number of connected devices grows up to billions according to the Forecast by Cisco. The issues have been raising in the current scenario, in which there are thousands, or millions connected devices. According to the research by CRN, around half of the executives expressed uncertainty over the ability to integrate connectivity management across different types of environment. Moreover, nearly 40 percent of executives are unclear about the connection to the IoT ecosystem to disparate networks. Surprisingly, nearly one-third of executives are not confident that the data will be secured by their organizations. The innovative solutions are needed to address the large-scale connectivity management issues.
Organizations have been struggling with scaling up the IoT networks. The research from CRN states that nearly 46 percent of executives outlined that they can handle nearly 1,000 devices, while nearly 27 percent outlined their handling capacity of around 100. Only a few organizations have figured out the issue regarding the scalability of IoT. Only 30 percent of organizations form the survey outlined that they can handle more than 100,000 devices in their IoT network. There is an urgent need for highly customized solutions and skillset to work in collaboration with legacy devices & software.
Lack of standardization
The transformation in the IoT space is taking place and new technologies have been developed rapidly. The data created is huge and it needs to be handled efficiently and securely. However, the lack of standardization prose challenges in the space. The standardization will enable the handling of unstructured data. Moreover, there is a lack of technical expertise required to handle top tier tools. These challenges would impact significantly if standards are not set. It will be efficient if the governments enforce restrictions on companies and ensure proper implementation.
As IoT will connect billions of devices in the future, there will be some devices vulnerable to attacks from hackers due to lack of proper security. The IoT botnets are capable of causing the damaging spikes in connected sensors including sprinklers and thermostats. This could lead to problems such as power outages, lack of availability of infrastructure, and others. The challenges escalate with securing of consumer sensors and devices after connection to shared infrastructure. Solutions to counter these issues should be implemented by employing smart control software to determine the difference between genuine and false data.
Over the next few years, more IoT technologies will mature and improve the quality of people’s lives. However, it is essential to address these challenges and find solutions.
About the author:
Nisha Dodeja, is a keynote senior consultant on digital marketing at Progressive Markets. She has been recognized for developing a robust social network strategy for the company. Nisha has written several whitepapers, case studies, and articles. She is a visiting faculty member at various educational institutions and has expertise in IOT.
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