The internet of things has spread far and wide in homes, hospitals, and office buildings, upgrading the modern lifestyle. With the digital revolution, IoT is swiftly penetrating every business vertical, thus increasing its demand in the market

1. IoT Assists Business Ventures in Myriad Ways
The internet of things has spread far and wide in homes, hospitals, and office buildings,
upgrading the modern lifestyle. With the digital revolution, IoT is swiftly penetrating every
business vertical, thus increasing its demand in the market. The wide acceptance of automation,
availability of Wi-Fi and internet connections, technological advancements in products and
services, and growing indulgence in auto electronic systems are various reasons that seamlessly
open the doors for the IoT market. IoT platforms can digitize every business by integrating its
existing physical products, thus transforming the digital age. This digital transformation helps in
business growth with improved productivity and efficiency. The industrial sector is widely
accepting IoT and taking a step ahead to connect the customer base, thus reinventing the business
and giving it a new direction.
The integration of IoT rationally aims at the interconnectivity of the devices for automatic data
collection and data transfer and works wonders with digitization. In addition, IoT can boost
industrial growth with omnichannel marketing and improve customer experience. Industries
majorly aim at collecting and processing data, reducing operational costs, and other customized
solutions with IoT, thus driving the IIoT market in several ways. The medical sector, agriculture
and horticulture, manufacturing industries, transportation, finance industry, and every other
business market are embracing IIoT with a full sway. According to Allied Market Research, the
global industrial internet of things (IIoT) Market is anticipated to grow at a significant CAGR
from 2017 to 2023.
The integration of mechanical machinery, electronic equipment, and computer technology have
helped with smooth monitoring of industries and improved their operational performance. With
the growing demand for IIoT, the demand for edge data is also increasing. The expandable cloud
computing assists with data storage and takes care of cyber security and data breaches. However,
the IoT hardware and network infrastructure possess consequent threats. It is a rising concern for
organizations that provides connected devices in the market.
The endpoint IoT hardware devices like sensors and edge devices have more physical
accessibility as compared to the inbuilt computer equipment, thus increasing the chance of its
damage or displacement. With factory default login credentials, the embedded IoT devices have
an insecure interface as there is no option for changing the login credentials. They do not support
advanced security features as per their design. It further develops the threat for the IoT
ecosystem and requires expertise for securing the hardware and the data. Enterprise technology
security requires multiple protection layers, and the organization needs to develop a good
framework for IoT governance.
IIoT market is expected to have a steady growth with upcoming technological advancements.
The IoT market has an upward growth curve. The demand for the cyber and physical security

2. IIoT market is increasing, thus offering numerous opportunities for companies and individual
freelancers. Companies either employ IT security experts or cyber security specialists to secure
the devices and data protection or outsource it. Presently, various IoT developer companies are
focusing on long-term partnerships, in which the company will take care of the management of
the system and device after its deployment with some mandatory security regulations. The IoT
market is flourishing and provides new opportunities for the future.
Author’s bio:
Vaishanavi Kumbalwar is a fun-loving, independent, unconventional and original thinker who
loves to put her thoughts into words. She holds a bachelor’s degree in Mechanical Engineering
and currently working as Senior Associate Content Writer at Allied Market Research. She thrives
on challenges and loves to explore different writing styles to bring off her fondness for being a
writer and blogger. She is an enthusiast of different cultures, places and cuisines and loves to
travel off the tourist path and explore new things.