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Analyst(s): Mark Hung
IoT is the technology foundation of digital business. Although it presents myriad opportunities for leading organizations to address their business issues, key technical and business challenges must be overcome in order for IoT to fulfill its promise.
Opportunities and Challenges
- IoT is at a crossroads in the enterprise, where the evolution from early trials to production deployments has proved challenging due to business and technical concerns.
- Industries that can derive clear business benefits from IoT, such as improved operational efficiency, have gravitated toward the technology at this nascent stage.
- While there is some commonality between IoT projects across industries, differences in business goals and technology competence drive the need for more targeted solutions.
- New security attack mechanisms and project funding concerns have continued to present a challenge to IT leaders looking to implement IoT solutions in their organizations.
- In the midst of a highly fragmented market landscape, organizations in key industries such as manufacturing and automotive/transportation have emerged as the early adopters of IoT.
- Reference architectures and industry-specific best practices have started to emerge to address the top challenges of IoT and accelerate IoT adoption.
Insight from the Analyst
IoT at a Crossroads: When Reality Sets In
After years of growing interest in the applications and innovations in IoT, many business and IT leaders have been wondering if the technology can ever overcome the hype and fulfill its promises in organizational and societal disruption. As we have written in our published research and observed in our client interactions, organizational leaders have gradually changed their perception of IoT from "hope" to "possibilities" to, most recently, "reality."