Top Five IoT Adoption Challenges for Modern Enterprises

The Internet of Things (IoT) has become a buzzword in the corporate world. It plays a vital role in increasing demand for product customization and changing customer expectations. Apart from this, the widespread adoption of IoT across core industry sectors has already started making an impact on productivity. 

It can assist enterprises to identify necessary services to engage with customers efficiently for enhancing the ROI. Overall, entrepreneurs can take their enterprise to a new level with seamless data access and customer experience. 

Here are some interesting stats that show the importance of IoT for enterprises 

• The worldwide IoT market is estimated to reach $1102.6 billion by 2026.  
• Enterprises can expect IoT to improve their efficiency by 12%.
• The spending in Industry 4.0 will increase by around $310 billion by 2023.
• The global IIoT market size will be around $1.11 trillion by 2028.

Implementing IoT solutions is a complex process and poses multiple challenges for enterprises hoping to adopt it to run operations. 

When you integrate IoT in digital transformation, you should learn about the challenges of IoT adoption. It is because after knowing these challenges, enterprises can be able to deal with them. 

In this blog post, we are going to discuss some of the major challenges to IoT adoption.

Significant Challenges Faced by Enterprises in IoT Adoption

IoT has disrupted both consumer and industrial segments across the world. It has also been identified as one of the top Industry 4.0 technologies that will make the operations of enterprises more efficient. 

But, if entrepreneurs want to integrate the IoT network, it is necessary to know the important aspects of enterprise mobility solutions to leverage all the benefits. Therefore, many organizations are still in a dilemma to adopt IoT. 

Even with the immense usage and growth of IoT, enterprises are facing some of the following issues that need to be resolved –

Security Concerns

Security is one of the biggest challenges that enterprises may face while adopting IoT solutions. Basically, IoT devices have their own ecosystems and they communicate with one another through the internet. 

Moreover, data transfer is also vulnerable to security threats. Apart from this, there are other IoT security issues as well like vulnerable passwords, cyberattacks, lack of proper security controls, data thefts, etc.

To resolve this issue, enterprises need to get expert advice from an IoT app development company. A reputed IoT solution provider will conduct customized risk assessments to identify the risks and eliminate them effectively. 

Also, this provider can facilitate enterprises with enhanced security where they can expect employees to effectively utilize IoT technology in the future.

Also Read : Top Five Challenges that Modern Enterprises Face in IoT Adoption

Changing Regulations

IoT markets are rapidly changing with the increasing demand for connected devices across the globe. Because of this rapid market growth, many startups and entrepreneurs have started investing in IoT solutions. 

But then as devices keep on sharing data, it is necessary to follow changing government rules and regulations. But entrepreneurs face a few challenges in adopting such regulations. These hurdles can be the complexity of regulations, level of regulatory burden, and business size.

In such a scenario, there will be a need for end-to-end IoT solution providers that will give you all the required things so that your business can fulfill all the prerequisites of regulations. 

For industry verticals, IoT app developers can offer app-based solutions to manage and control electric metres, pipeline monitors, robots, tracking devices, and inventory controllers. As a result, the regulatory systems can be introduced accordingly.

Lack of Structured Data

Structured data is a type of data that has a well-defined structure and follows a proper order. It is essential for a successful IoT integration as IoT software needs clearly defined categories under which data should be collected. 

If there is no correct classification, further analysis of the data becomes difficult. In addition, data entry is still manual in many places. 

This is where the human error and lack of structured data occur, which can make it hard for machines to read the data.

However, you can resolve this issue by hiring experienced IoT solution developers that can offer specialized services to model your data. They can provide you with database management plans to increase the overall data capturing speed which is important for enterprise IoT adoption.

Similar Approach to Cover Multiple Use Cases

Another major challenge for enterprises is to identify the right use cases to ensure a higher ROI in IoT. Determining the exact processes that can be automated and the ones which cannot by using IoT is challenging. 

In addition to this, you will require a lot of investment to study the white space that can be integrated with IoT.

Here a modular approach to building edge architectures can be helpful. By using such an approach, developers can flexibly deploy the components from core data centers to remote edge sites to meet the needs of different use cases. 

Likewise, IoT with open-source components will allow companies to build vendor-focused solutions as per their needs.

Lack of IoT Integration Skills

Lack of skill sets can be a potential barrier that stops enterprises from IoT adoption. IoT integration requires good understanding and hands-on experience to implement it in an enterprise arena.

Apart from this, a shortage of resources is another setback that prevents enterprises from investing in IoT technology.

Therefore, it is advisable for enterprises to consult with IoT software development companies to take care of the implementation process as it reduces the pressure on their team.

Partnering with a reliable IoT app development company will provide the in-house development team with ample time to focus on the critical tasks only.

Concluding Lines

Today, experts understand that IoT technology is the future as it can give certain competitive advantages to any enterprise. 

Despite the fact that more and more enterprises are preferring to use IoT technology, many of the challenges associated with its implementation remain unresolved. However, enterprises can learn how to overcome these obstacles by knowing them clearly. 

Solution Analysts assists their clients to implement IoT-based systems while addressing all these challenges. 

As a leading IoT app development company, we also integrate advancements in emerging technologies and help you develop customized and robust solutions.