We are all able to see what the Internet of Things (IoT) is doing to transform the world in which we are living. With constantly evolving technology, the Internet of Things has drastically changed the way devices work, making them smarter than we could have imagined decades ago. Internet of Things is today used in Smart Watches, fitness trackers, connected cars, and various other application areas. The latest one to join the club is businesses and organizations.
Today organizations and business are investing extensively in Internet of Things systems in order to give their businesses a boost in terms of productivity and efficiency. It is anticipated that in the coming years a major portion of connected things that is used globally will be implemented by organizations and companies for their internal systems. Oil and gas as well as utility sectors have been using IoT from some time, but in order to stay ahead of competition IoT projects need to focus on security and performance which will make them compliant with interoperable standards. The growth of smart businesses by means of adopting Internet of Things is helping companies to reduce their operational cost and minimize the emissions.
While the benefits of adopting Internet of Things is many, security continues to be a roadblock. Experts feel that implementing IoT can be the challenge. With increasing number of cyber-attacks and enterprises and companies lacking the necessary technology or skills to address such risks, security breach continues to happen.