Implementing IoT into Your Business: Benefits and Obstacles

The Internet of Things (IoT) is becoming an integral part of many businesses from different spheres. According to statista, by 2023 the global amount of spending on IoT will reach $1,1 trillion.

Driven by the development of Artificial Intelligence (AI), Machine Learning (ML), Robotics, and other innovative technologies, IoT continues to impress both businesses and customers with new enhanced features. Consumers can enjoy a seamless experience and a growing number of Internet-connected devices while businesses benefit from optimized workflow and reduced operational costs.

In this article, we will provide you with an insight into the Internet of Things: its main features, benefits, and obstacles you should be aware of when implementing this solution into your business.

What is IoT? How does it work?

Internet of Things is a system that consists of network-enabled physical objects exchanging data without human intervention. The most common examples of IoT devices include:

  • home appliances (refrigerators, weights, washing machines);
  • wearables (smartwatches for fitness bands);
  • smart factory equipment;
  • smart home security systems, etc.

The work of IoT is based on 4 elements:

  1. Sensors collect the necessary data and transmit it to the recipient device. The most popular examples include accelerometers, gyroscopes, temperature, humidity, and other sensors.
  2. Connectivity is a concept that establishes communication between sensors and devices. The most common types of network connection are Wi-Fi, Bluetooth, and near-field communication (NFC).
  3. Data processing is a step when the collected data is being analyzed. Due to ML, this information may help the device to understand customer preferences and adjust to them.
  4. User Interface serves to present important information to the user. It can be an e-mail, text message, notification, etc. For example, the user can receive a message that the temperature in the fridge is lower than necessary.

Why Should You Implement It?

IoT provides businesses with great advantages, making them more efficient, responsive, and competitive. Here are some of them.

  1. Increased efficiency. The Internet of Things can help businesses enhance their efficiency in different ways. Connected sensors in IoT devices can monitor data and detect possible issues before they impact business processes. Moreover, robust machine-to-machine interaction fosters enhanced automation and allows employees to concentrate on more complex processes that require human intervention.
  2. Reduced operating costs. IoT comes with great automation that allows businesses and manufacturers to reduce manually performed tasks. Moreover, due to real-time data IoT solutions can identify business process inefficiencies or production bottlenecks, so they can be resolved without huge money losses.
  3. Improved customer experience. Collected and analyzed data lets businesses predict customer behavior and build more personalized solutions that will be able to increase customer satisfaction and enhance their loyalty.

IoT Risks and Challenges

To reap the benefits of IoT solutions, it’s crucial to be aware of the challenges you may face when implementing this technology into your business. The most common IoT pitfalls include:

  1. Security. Since the number of IoT devices is continuously growing and IoT systems are getting more sophisticated it’s becoming more challenging to deal with cybersecurity issues. The most common IoT security risks include weak passwords, poor data protection, insecure interfaces, etc.
  2. Privacy. IoT devices collect and store customers’ private information. Thus, if the IoT system lacks security, sensitive information becomes more vulnerable to data breaches.
  3. Complexity. Although it seems that IoT devices perform quite simple operations, their development, design, and maintenance are very complex. Moreover, any system errors may cause serious consequences that are difficult to be fixed.
  4. Integration. Being a new technology there are still no commonly accepted protocols, regulations, and standards regarding IoT solutions. Thus, many IoT devices are not compatible with each other.

Which Businesses Can Benefit From IoT

IoT can be of great help in various business fields, yet it can be particularly useful in spheres where sensors and collected data would be game-changers. IoT most popular use cases include but are not limited to:

  1. Healthcare. Wearables and sensors can monitor patient condition, helping doctors improve all medical processes such as treatment, diagnosis, rehabilitation, etc. According to statistics, the global market of IoT in healthcare will reach $260,75 billion by 2027.
  2. Agriculture. In this sphere, IoT is widely applied to control the use of resources (water, chemicals, etc.). Moreover, it can automate the process of planting and harvesting, provide farmers with data about their cattle (their location, health condition, etc,), and much more.
  3. Logistics. Logistics and transportation businesses can apply IoT solutions to enhance warehousing, delivery, and tracking processes, making them more time- and cost-efficient. It can be vital when delivering food supplies or other goods that require very specific transportation conditions.
  4. Manufacturing. Here IoT technologies play a crucial role in tracking the quality of products, managing the data about the stock, improving the safety and working conditions of the employees, and automating processes for better efficiency.

Why C++ Is a Smart Choice For Your Next IoT Development?

Since embedded systems and microcontrollers don’t have an operating system, there is a very limited choice of technologies that can be used for their development. C++ is one of the few programming languages that can be applied for that purpose. Its main benefit is the ability to access and manage the hardware without losing the advantages of a high-level programming language. Moreover, due to its core characteristics, this tech stack lets  C/ ++ development companies provide their customers with robust, scalable, efficient, and secure IoT solutions.

Conclusion

IoT technologies bring great possibilities to different spheres. They enhance overall business productivity, fostering improved customer experience and engagement. However, when thinking about implementing this solution, it’s crucial to consider not only the benefits IoT may bring to your business but also some challenges you may face. It will let you apply the proper technical expertise to overcome common security, privacy, and integration obstacles. Moreover, make sure you cooperate with an experienced and trustworthy IoT development company  that will help you build a top-notch IoT solution complying with all the necessary standards and regulations.

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