A World of Change
Over the last few years, the Internet of Things (IoT) has become an appealing concept for business growth. In fact, 80% of the enterprises have begun their IoT journey, including all its opportunities, challenges, and solutions it provides. In general, this means physical devices with their own CPUs have microchips that can actively participate in and collaborate on business process implementation. This is called Enterprise IoT.
Enterprise IoT's great unique selling proposition (USP) is its impact on reducing human intervention and achieving higher process efficiency for the business. This happens by -collecting inputs from several machines involved in the process and then decisioning these connected physical devices to handle commands depending on the context of the applicable business rules and inputs. IoT has great potential to truly redefine businesses by altering the process of gathering data and information by bringing together the major business trends of data analytics, mobility, and automation.
Let’s take a closer look at the infographic to illustrate the benefits of Enterprise IoT and how it has become a gamechanger for several organizations.
Enterprise IoT: Powering the Future of Business
Presently, we are at a threshold where we are facing a complex environment while also adapting to a new future. This indicates that organizations need to find better ways to thrive - while protecting human well-being. IoT initiatives have a lot of enormous opportunities for brands to embrace and become agile in a rapidly evolving world. It helps companies run better and think smarter by providing powerful analytics to make smarter business decisions faster.
By 2026, the IoT market is meant to cross over $1.3 bn which means generating $4-11 trillion of value. With such tremendous growth potential, IoT has become one of the technology pioneers in opening up new avenues for more business growth. In fact, 83% of the enterprises that adopted IoT-based technology have drastically increased their efficiency.
Challenges With Enterprise IoT Deployment
However, alongside the significant value, also lies major concerns. For IoT adoption, the number one challenge is ensuring data network and device security within enterprise organizations. According to the latest report, the safety and security concerns have risen by 13% to 53% YoY, while data governance threats have grown up to 50% over the last year. As enterprises have sufficient capital and resources to deploy IoT solutions at a very large scale, they also have the risk of hastily implementing solutions that are vulnerable to cyber-attacks.
Enterprise IoT security must be imposed upon to lessen the risk of insider threats, other forms of IoT attacks on the underlying network and physical devices. Here are some ways to invest in the proper security solutions and processes:
IoT threat prevention -It's crucial to have an IoT enterprise security solution at place to reduce the known attacks and suspicious attacks that haven’t been occurred. Always look for elements like virtual patching, IoT-specific threat intelligence, and on-device runtime self-protection.
IoT risk analysis -Begin by highlighting all of the IoT related risks and put everything on the display. However, if you're unsure of the risks, you'd require a thorough audit to recognize all points of vulnerability.
IoT auto-segmentation -Trying to implement a blend of IoT security solutions and processes won't work anymore unless it is carefully thought upon. This means you might need IoT auto-segmentation that auto-generates and enforces policies on your organization's behalf. This assures any sort of unauthorized access is denied.
Choosing the Right Enterprise-IoT Enabler for Your Business
IoT fuses the two worlds - physical and digital, which as result connects the enterprises to the boundless benefits it has to offer, such as - improving user experience, cutting expenses, optimizing operations, or driving new revenues.
Getting on the enterprise- IoT bandwagon can be quite daunting, either alone or with a partner. The true picture needs to be clearly drawn by the organization for the success of its IoT investment. Icreon helps forward-thinking brands to embrace IoT strategically at the enterprise level and help them realize measurable near-term ROI and driver better processes and business models.
Stick around to talk to our experts on enterprise IoT and much more!