We’ve read about self-driving cars and smart home automation systems and even shared articles and videos about them last year. However, the term IoT was yet to become a mainstream word at that time. We knew that there were devices connected to each other, communicating and transferring data through sensors and the internet. But what we didn’t know that the entire ecosystem had a name and that it was the Internet of Things.
As Big Data, analytics, Machine Learning and artificial intelligence started becoming mainstream, the term IoT also evolved and made its way into our everyday conversations. Now, most of us know what the technology is and how it has been influencing industries, companies, and our day-to-day lives. Some of us have even gained commendable exposure that we intend to switch our career to this booming industry.
As far as India is concerned, the IoT industry is gaining increased momentum, where researchers are turning to connected devices to carry out everyday tasks and companies are increasingly reinvesting on IoT for optimized performances. There have been several indigenous IoT devices that have their prototypes ready (Read Ramudroid) and the industry is now open to diverse experts such as IoT product engineers, IoT software developers, cloud architects, designers and more.
You would also be surprised to know that corporate giants like Amazon, Wipro, Cisco, IBM, Qualcomm and more are hiring IoT experts for various niche roles. Besides, there are several IoT-based startups that are making their way to becoming profitable ventures. However, to venture into this booming industry, you need more exposure to the pros and cons of IoT and in this article, we’ve compiled 5 crucial things you should know before you get started with IoT. So, no matter if you’re an IoT aspirant or a businessman looking to invest in IoT, these factors should help you out.
As we said, IoT is still not a flourished industry yet. It’s not like the other IT products and services such as smartphones, where you easily get access to the hardware peripherals required to build them. Though every IoT architecture boils down to just four components – devices, communication networks, cloud services, and applications – the market for the hardware components has not just flourished yet. If you go to some of the IoT meetups, you will understand that there are very few people who have confidently ventured into the IoT industry. Manufacturers of IoT devices are less and there’s also a gap in the standard pricing, availability and more. In the video, the co-creator of Ramu Droid shares the challenges faced by her in developing an IoT device. From funding to components, she shares how the indigenous market is yet to open up to the IoT market.
Developing an end-to-end IoT solution isn’t easy. It requires a pool of talent that is multidisciplinary. Skills in designing embedded systems, cloud computing, cloud architecture, IoT application development, security designs, back-end management and data analytics are crucial. If you take a closer look, there aren’t colleges or courses that offer a degree program in IoT. It’s all specialization classes that take care of preparing individuals for the diverse roles in IoT.
So, if you’re an IoT aspirant, this is the best time to venture into the industry as the lack of talent will allow you to gain an edge over your competitors. You grow quicker and enjoy a paycheck that is ahead of the current salary trends. If you’re a company, you need to cross-train, upskill and bridge the skill gaps in your in-house talent pool and make the industry-ready.
If privacy in the digital space is a myth, security in IoT is speculative. Still in its initial stages, security is a major concern in IoT and there are no organizational or governing bodies to formulate data policies and regulations. Often, security in IoT devices are overlooked to accommodate more user-friendly features and added functionalities. With communication devices still vulnerable to hacks and brute-force entries, IoT security still needs to strengthen up.
It’s a very niche and young market out there. As common people, we are in still awe of the technology’s potential. We share articles and videos on home automation systems and self-driving cars but when asked to sit in one personally, we would hesitate. For us, letting a machine take control of crucial things is still a major concern and that’s the thought process from a market perspective. Though IoT can assure of top-notch home security solutions, we still feel hesitant to leave our home under its control and supervision. Evolution in this will gradually happen as more people wake up to the technology’s worth. As the takers for IoT products and services increases, there will be better regulations, support, bug fixes, supervising bodies and more to cater to the demands of customers.
Google Glass was shelved and some automobile giants also silently scrapped their experiments on self-driving cars. The technology’s potential is much more than these shelved products and there are tons of researches and experiments going to bring out better variants of these ambitions. This technology is evolving, tackling and adapting the changes coming along its way.
Like any other technology, IoT is seeing a rise in its adoption and is requiring skilled people to help the technology evolve. The shortcomings in this industry are just temporary and researchers predict that it’s the next big technology to enter our everyday life. Lastly, this is the best time to venture into IoT. The blooming market is a blessing for any aspirant and if you’re serious about IoT, take the next step today.
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