Factors that might limit the Internet of Things

09 February, 2017
By G-Team in Technology
Internet of Things
The Internet of Things is increasingly becoming a topic of conversation within and outside the workplace. It essentially refers to an ever-growing network of physical objects being connected to the internet and users are able to access it almost anywhere, anytime.  Coined as the Next Technological Revolution, the Internet of Things is slowly changing the way we do things – from the way we manufacture items to even seeing a virtual doctor when we fall sick. However, just as great in principle as it may sound, the Internet of Things is still subjected to certain limitations, just like any other business idea. Here are some notable factors that might limit the Internet of Things especially when it comes to businesses.
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Availability of an Internet Connection

Sure, the Internet of Things provides businesses unparalleled convenience as business data can be put on the web and easily accessed. However, these functions are virtually useless without the one most important requirement – the internet. Surprisingly to most, there are still some places in the world whereby an internet connection is either non-existent or extremely unstable. Worldwide internet connectivity is essential in order to fully maximise the potential of Internet of Things for businesses.

Costly Expenses

While many companies are optimistic about the astounding advantages that the Internet of Things will ultimately bring about, it still poses a rather hefty investment for companies. Reason being that for the Internet of Things to truly work in providing physical objects a virtual state in the virtual realm, this would require a large-scale of implementation for the Internet of Things on physical objects.

Loss of privacy and security

Ever since the introduction of the Internet, privacy and security have been the top priority for businesses. With the growing Internet of Things, this only heightens privacy and security concerns among organisations. As the media reports more cases of major data breaches and leaks, it adds to growing insecurity among consumers and businesses. As such, organisations have to strengthen and enhance their data security measures to avoid falling into these pitfalls.

Influx of Data

As the Internet of Things grows exponentially, this would naturally mean a surge of new data leading to even more Big Data. At the rate which new data is being generated, many companies are not prepared to handle these large volumes of incoming data in order to fully utilise the Internet of Things functions. Businesses would need to increase their storage capabilities – such as cloud storage, and processing power. Additionally, more manpower with specific skillsets such as data mining, and improved equipment is required to analyse the new data.

These are perhaps only a fraction of the potential limitations that businesses may face when it comes to the Internet of Things. However, organisations do see the numerous potentials and opportunities that the Internet of Things brings about in the near future. Organisations are paying more attention to the Internet of Things and coming up with innovative solutions to tackle these potential limitations, which would likely change the way we do business in future.