IoT is rapidly shaping today’s world. It is predicted that by 2020, almost 25 million products will be connected by IoT. It is already predicted by Cisco that the market would gain almost $14.4 million dollar already. It is predicted that the IoT market will be more predominating then the Smartphone technology. IoT is helping in almost all the industries. From healthcare, education, human resources to home development, IoT is trying to enter in all spheres of our lives. We are living in a world which is technologically connected.
It was found in a research that 43% CAGR, the market will have by the year 2019. Penton in a survey still highlighted dew of the challenges posed by the IoT. It was found that due to many factors respondents are scared to go for IoT completely. Not only is the lack of knowledge but also due to security threats people skeptical in using IoT. Let’s find out what are the main factors behind the concern of the people:
It is found that 40% of the respondents shared that they are concerned more about data privacy. It is true that Iot technology produces a huge amount of data. This data needs to be protected otherwise it will lead to data breaching.
In data protection acts are coming up across different Nations every year. Although every country wants to be technology updated but they also think about the data protection. Deloitte in a study found that there are almost 100s of data Acts in many Nations. In the 1990s the privacy was only 20 throughout the globe. The numbers have increased.
There are still many vendors who offer a trusted solution towards this. They try to reduce the security risk problem factor as well as they also try to provide end to end encryption. They also try to offer token based authentication.
Security is one of the major root causes for the 40% of the respondents not choosing IoT. There are many news highlighted where the security factor was at a complete stalk. People think lot of time after regarding many of the hacking news. Even the Hello Barbie Doll was hacked as well as the connected refrigerators. In news it was shown that a jeep car was hacked and two automotive hackers took complete control of the car. The car was going at a speed of 70 miles per hour in a highway.
It is not only software can be hacked. Alan Grau, president and co-founder of the Icon labs, also said that the real thing should be secured also. The devices that IoT is using that can be hacked also. In the year 2014, in a German steel mill the cyber attack caused massive loss.
Iran’ nuclear centrifuges were also hacked by the Stuxnet virus. The worm completely damaged the computers which were used.
Although security is a concern, but there are many such options which can help them in getting security. There are many IT solutions, which on a regular basis, analysis and monitors the devices and the softwares. If they are updating them on a regular basis then the chance of security hacking reduces to a greater extend. People using smart IoT devices at their homes are bothered about security. If the smart devices are hacked then the home owners will lose control and access to their own homes. It is an alarming fact.
Expensive IoT devices
Using the IoT devices and maintaining it on a regular basis is an expense. In the survey, 38% of the respondents said that cost is another factor which they think about. An IoT device needs to be connected with cloud technology. Both the technology is expensive. As it requires regular monitoring and maintenance people are worried. Jason Shepherd, Director of IoT Strategy and Partnerships, said that sometimes people need to also pay for the data that you have never used.
They also said that there are ways out where company’s can move those data and protect them until and unless they are getting used. The companies need to keep a track on the data.
Lack of knowledge about smart technology
Lack of knowledge is a major concern for the 385 of the respondents. The respondents think that they don’t have sufficient knowledge about the smart technology. Though the IoT market is gaining importance these days. They have already launched several smart devices for the home care as well as for many other purposes. The people need to have basic knowledge about. Like people find the cloud or the IoT devices bit complicated to use.
It is also due to the fact that in the initial years of launching any product people become rigid to learn it. As time passes by they also get used to it.
One of the major factor found that IoT is having a challenge is that people needs to be connected to the Internet 24*7. They need to have smooth running Internet to support their devices. If the connectivity gets lost or interrupted due to any reason, then they will be isolated.
There are many factors which lead to Internet connection interruption, not only due to late bill payments but also due to many external factors.
If the weather condition is bad and Internet gets affected then they will lose touch. People are using IoT not only work their work purpose. They also bring smart devices for their home and they also take it to monitor their health.
If they are getting to dependent on the devices and the devices are not working then it will be a real big challenge. Even if our Internet stops working for few minutes, our hearts starts to pump. Just imagine what happens when the IoT devices do not function due to Internet issues. People are lost.
Due to the lack of standards IoT devices are getting impacted more. If the devices are not well designed and up to the mark then it will not be connected well with the Internet. In the market you will find many such IoT devices which are real cheap but the products are not up to the mark. It is because these devices are designed to compete in the market, the cost is lowered for them but the products are not satisfying. If anyone uses these kinds of devices in the beginning then they will not be satisfied about IoT concept.
Regulating the Io devices is also one of the major causes which need to be analyzed. The devices need to be regulated so that there are no legal issues.
Iot is having many such challenges as well as many such benefits. It is just like two sides of a coin. As the technology is changing we need to be more proactive in adapting to these smart technologies. If the people don’t learn how to use them then they never learn how to protect the devices. It is totally based on using the devices. You can’t think of ignoring IoT as it is getting into our lives and within few years all devices will be connected by internet. You should start accepting it rather than just fearing g it. Many companies are launching great devices to make our lives better.