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    • Internet of Things
    • Article

    What does the future look like for IoT?

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    We have sent you a copy of the report to your email again.

    Highlights

    • The Internet of Things (IoT) has emerged as one of the most critical technologies of the current era. 
    • It is difficult to test for vulnerabilities in the IoT system because the software and hardware are typically hard-wired together.
    • IoT has enormous potential, but there are several pitfalls that an enterprise should be aware of when adopting IoT solutions.

    In this article

    The Future of IoT   inpage
    Is IoT Sustainable?   inpage
    Security Liabilities   inpage
    The impact   inpage
    What Needs to Happen   inpage
    Future in IoT   inpage
    Conclusion   inpage
    The Future of IoT inpage
    Is IoT Sustainable? inpage
    Security Liabilities inpage
    The impact inpage
    What Needs to Happen inpage
    Future in IoT inpage
    Conclusion inpage
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    The Future of IoT Is IoT Sustainable? Security Liabilities The impact What Needs to Happen Future in IoT Conclusion

    The Future of IoT

    IoT has emerged as one of the most critical technologies of the current era

    The Internet of Things (IoT) has the potential to transform industries and modernize business processes. It has emerged as one of the most critical technologies of the current era. The IoT enables a world where everything is connected via computer networks and sensors. It has tremendous potential to drive value and performance in every organization, sector, industry, government agency, educational institution, and more.

     

    Scope and Problems

    Is IoT Sustainable in the Long Run?

    While the IoT market's value is projected to grow from USD 478.36 billion in 2022 to USD 2,465.26 billion by 2029, the success of any new technology is directly related to the sustainability of its adoption. It has the potential to transform industries and modernize business processes. However, it will not be successful unless the right measures are taken to ensure sustainability and adoption. For example, the smart home devices market grew by over 11.6% in 2021.

    IoT adoption rates are still low because IoT solutions are usually expensive to implement. Furthermore, they are complex and involve significant changes in operations and processes. Therefore, many organizations still struggle to adopt them for their businesses.

    Security Related Liabilities

    Security is of primary concern in the IoT industry.

    Many devices are not adequately secured, making them vulnerable to attack. Hackers can easily access sensitive data or take control of devices. This poses a serious threat to businesses and consumers. It is more important than ever to ensure that data is safe and secure.

    Why are there security issues in IoT? It is difficult to test for vulnerabilities in the IoT system because the software and hardware are typically hard-wired together. This makes it difficult to test them independently. Secondly, there are different types of devices and several vendors manufacturing IoT products, making it difficult to create a universal standard.

    There needs to be more transparency around how devices collect data and what they do with it. Device manufacturers must disclose their privacy policies so users can make informed decisions about how they use these devices. And users must understand what data they are giving up when they allow companies like Google or Apple to access their personal information via apps or other services on their phones.

    Solution

    Make smarter decisions with TCS’ IoT offerings

    The impact

    IoT has the potential to cause some major problems for the environment.

    The IoT is already a major contributor to climate change, and its effects will only worsen over time.Mainly due to how much data the IoT generates, we create more than 1 trillion new bytes of information each year. This trend is expected to continue for decades, meaning we're facing an almost infinite amount of data about our surroundings.

    The problem with this data is that it can be used for malicious purposes—from hacking into cars' operating systems and stealing your personal information to spying on people through their cameras and microphones or even manipulating them through remote control. And none of these scenarios is very far-fetched; most have already occurred in real life.

    What Needs to Happen in IoT?

    Massive adoption of smart devices will fuel the growth of IoT.

    However, businesses will reap significant benefits from the IoT only if the solution is made user-friendly, flexible, and scalable. Otherwise, adoption might fail due to a complex user interface, high maintenance costs, and a lack of scalability. Therefore, IoT solutions should be easy to use and meaningful to customers. Businesses must ensure that IoT solutions are well integrated with their processes. They can also ensure scalability by providing solutions that can handle the enormous data created by the devices.

    Bringing down the overall cost of procurement, using low-cost sensors, and doing clever data processing on computers would also help.

    Data, Networking, and Communication Future in IoT

    The issue of data protection and ownership

    Data generated by intelligent devices are central to IoT's success because of its potential to transform industries and modernize business processes. However, many challenges stand in the way of its widespread adoption. The biggest of these is the issue of data protection and ownership. Business leaders need to address these issues to ensure the success of IoT. They should also ensure that their organizations' data privacy policy complies with the GDPR. IoT can bring significant benefits for customers and employees with the right solutions. For example, smart devices can monitor and track employee performance to improve productivity. The data generated from this can also be used to improve business processes.

    Conclusion

    IoT adoption will not be without challenges

    The Internet of Things is a network of devices allowing remote monitoring and control. IoT facilitates the automation of physical processes such as manufacturing, transportation, and construction. It has enormous potential, but adoption will not be without challenges. There are several pitfalls that an enterprise should be aware of when adopting IoT solutions.

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