The Internet of Things presents great business opportunities, but will also offer a very complex market landscape, according to a new FirstPost article from Gartner VP Jim Tully.
One of the most important warnings from Tully is that the IoT’s effects will be wide-reaching, and that many businesses “remain unprepared for the IoT, both in terms of the opportunities it provides and the threat of disruption it could pose” to them. And while we have seen heavy IoT investment from major companies such as IBM, Tully says that Gartner predicts that by 2017, startups under three years old will be developing about half of all IoT solutions.
This differentiation will help to exacerbate another important trend outlined by Tully: That for the next few years, “there will be no dominant IoT ecosystem platform.” While cross-industry groups like the AllSeen Alliance are trying to mitigate this issue from the outset, Gartner evidently remains convinced that until 2018, “half the cost of implementing IoT solutions will be spent integrating various IoT components with each other and with back-end systems.”
That variability in architecture could lead to other issues, too, particularly with respect to security, as security experts and industry analysts have previously warned. And as Tully suggests, the IoT will also lead to new ethical issues, echoing others’ concerns about such matters as potential privacy intrusions.
None of this is to say that the IoT just presents a bunch of big risks; there is also enormous market potential and opportunity. But navigating the IoT as it blossoms will require adaptability and careful considerations of security and ethical/legal issues; and great success lies ahead for those organizations able to maneuver through these areas nimbly.