Monetization Tops All IoT Challenges

While plenty of challenges surround the Internet of Things, there’s one that tops the list, even over security.

The most immediate challenge is quantifying the return on investment or defining a clear use, based on a new study.

There are plenty of other challenges, according to a survey of 360 IoT professional conducted by IoT Now for Canonical.

Challenges range from ROI issues to insuring that regular updates are provided. Here are the most immediate challenges IoT professionals face, according to the survey:

  • 53% -- Quantifying the ROI or no clear use
  • 45% -- Device security and privacy
  • 40% -- Lack of IoT infrastructure
  • 34% -- Lack of budget/investment in IoT
  • 29% -- Insuring devices integrate with wider IoT ecosystem
  • 26% -- Device management/long-term support
  • 25% -- Resistance from within the organization
  • 12% -- Insuring regular updates are provided and installed

In addition to these challenges, businesses are facing other issue relating to people. For example, more than third (35%) of IoT professionals are finding it difficult to hire for data analytics and big data, 31% in security, 30% relating to artificial intelligence and 13% regarding robotics.

Despite all the potential pitfalls on the IoT road, the biggest remains a fundamental business issue: monetization. And that’s the bottom line.

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